Iran nuclear deal: From oil prices to GDP, how have sanctions affected the country? July 15, 2015 After nine years of negotiations between Iran and leaders from the snappily-titled "P5 +1" nations – the US, the UK, France, Russia, China and Germany – agreed yesterday to lift sanctions on Iran. But what does that mean for the country's economy? Sanctions were first applied to Iran in 1979, after the storming of the [...]
Women’s confidence in fair pay plummets as fewer women than men expect a pay rise July 15, 2015 Women are far less likely than men to expect a pay rise in the next year. Just 27 per cent of women feel “confident” that they will get a raise within the next 12 months, compared to 40 per cent of men, according to a new survey from careers website Glassdoor. Overall, expectations of a [...]
Where can you earn most? Wages grow fastest in Northern Ireland, Wales and North East – but London still has the highest salaries July 15, 2015 Yes, wages are still highest in London – but the capital isn’t where salaries are growing fastest. Wage growth is higher than it’s been for five years, showed fresh labour market statistics released by the Office for National Statistics today. This is far from evenly split, however. Those working in Northern Ireland, the North East [...]
Wage growth hits five-year high but unemployment rises July 15, 2015 While UK wage growth soared to a five-year high in the three months to May, unemployment unexpectedly rose for the first time in more than two years. Average weekly earnings, including bonuses, rose 3.2 per cent during this period, slightly below economists' expectations for a 3.3 per cent rise according to figures released today by the Office [...]
British Gas to cut household prices by five per cent July 15, 2015 British Gas has promised to cut household gas bills by five per cent – the second such reduction in six months. The price cut will come into effect for British Gas' 6.9 million customers from 27 August. The utilities giant said this latest drop would save the average home £35. In total this year's [...]
Britain’s night-time economy is valuable and needs protecting July 15, 2015 Summer in the UK is renowned for its festival calendar with Glastonbury, Wireless, Reading, V Festival and Bestival attracting revelers – young and old – from across the UK, Europe and further afield. But beyond the headline live music festivals, pop-ups such as Notting Hill Carnival, Lovebox, the Somerset House Summer Series and Opera in [...]
International Monetary Fund slams Greece deal, encouraging lenders to write down debt July 15, 2015 The International Monetary Fund (IMF), one of Greece's three key lenders, has heavily criticised a deal it reached with its creditors at a summit over the weekend, saying the country's debts have become "highly unsustainable". On Monday the Fund had said it "stands ready to work with the Greek authorities and the European partners" on [...]
Britain will not foot the bill for Greek loan, says George Osborne: We’re “not in the euro” July 14, 2015 Chancellor George Osborne laid down the gauntlet to his Eurozone peers yesterday and said that the UK would refuse to put £1bn towards a short-term loan to Greece. If Brussels insists the UK foots part of the bill, it would threaten relations between British and EU leaders as Osborne gears up to renegotiate the country’s [...]
Gender pay rule gets lukewarm City reception: Focus should be on getting “more women into senior executive positions” July 14, 2015 The government's plan for companies to reveal pay differences between men and women received cautious backing from the business world yesterday, yet critics insist it will not improve equality in the workplace. Feelings from major City firms were mixed after David Cameron announced that large companies will be required to hand over data on [...]
Iran deal shakes up oil market as sector prepares for end of sanctions and new supply July 14, 2015 Iran has finally reached an agreement with Western negotiators over its nuclear programme, following years of discussions. The deal will see Iran limit its capacity to build a nuclear bomb, in exchange for the lifting of economic sanctions on the country, including restrictions on its oil and gas industry. The price of oil dipped again [...]