Transfer window 2015: Weak euro saves Premier League clubs up to £85m during record summer of blockbuster signings September 2, 2015 Premier League clubs may have splashed out a record £817.7m on new players this summer, but the strength of the pound means they have saved around £85m when raiding European rivals for star talent. This time last year, a pound could be exchanged for around €1.25, but for much of this summer it traded above [...]
FTSE closes three per cent lower as China outlook worsens September 1, 2015 The FTSE 100 closed more than three per cent lower, at 6,058 points, after another day of weak economic data from both China and Europe. Other European markets followed suit, with both the Cac and the Dax finishing 2.4 per cent lower. Meanwhile, US stocks also dropped, with the S&P 500 and the Dow [...]
Oil prices plunge on disappointing economic data from China September 1, 2015 Oil's upward streak has come to an abrupt end, after the commodity was hit by disappointing manufacturing data released by China this morning. Read more: Oil prices jump more than 10 per cent in biggest one-day rally since 2009 In August, the world's second-largest economy experienced a contraction in its factory activity to 49.7 [...]
Eurozone unemployment drops to three-year low September 1, 2015 Eurozone unemployment has fallen to a three-year low, surprising economists by dropping as low as 10.9 per cent in July. Unemployment figures were forecast to remain static at 11.1 per cent, but Eurozone recovery has given job growth a bigger push than expected, according to new figures released by statistics agency Eurostat today. Some 213,000 [...]
UK manufacturing PMI falls in August as strong pound and uncertainty in China take their toll September 1, 2015 Manufacturing activity in the UK dipped unexpectedly last month, figures published today showed – suggesting uncertainty about China may have spread. Markit's purchasing managers' index (PMI) for the sector fell to 51.1 in August, down from 51.9 in July – and considerably below the 52 expected. Any figure above 50 denotes a contraction in the [...]
China’s economic woes continue as factory activity contracts at fastest pace in three years September 1, 2015 Here we go again? Shares closed lower in China this morning, after manufacturing figures showed the sector in the world's second largest economy contracted last month at its fastest pace in three years. Read more: China warned: You don’t know what you’re doing The official purchasing manager's index (PMI) was 49.7 in August [...]
China stock market crackdown: Chinese government arrests nearly 200 over ‘illegal rumour-mongering’ August 31, 2015 City figures launched a broadside against China’s government last night, after authorities spent the weekend rounding up nearly 200 people deemed guilty of “illegal rumour-mongering”. Beijing appears to have lost faith in its ability to stem a decline in China’s shares through large-scale purchases. Instead, it has turned on traders, social media users and [...]
UK shoppers flee high street over August bank holiday weekend August 31, 2015 Heavy rain over the bank holiday weekend resulted in a washout for high streets across the country with people opting to visit shopping centres instead, new figures show. High street stores suffered a 4.1 per cent year-on-year decline in footfall on Sunday after the wet weather and strong winds dampened shoppers' mood, according to [...]
UK income tax haul from non-doms has risen 7 per cent and hit £6.6bn last year August 31, 2015 The amount of income tax paid by so-called “non-doms” based in the UK has risen by seven per cent, according to a new report out today from Pinsent Masons, the global law firm. According to the report, non-doms – individuals claiming certain tax benefits because their permanent home is outside of the UK – [...]
Card spending via contactless jumps to £2.5bn in the UK as the payment limit rises to £30 August 31, 2015 The spending limit on contactless cards has today increased from £20 to £30, as new figures show a surge in spending to £2.5bn in the first six months of the year. The use of contactless technology to pay in restaurants and shops has soared in popularity since it was first introduced in 2007, when [...]