Rising inequality, dampened growth and poor prospects: Why everything you thought you knew about Sweden is wrong June 23, 2015 Scandinavia: Home of advanced technologies, strong economies, happy people and the occasional murder, right? Wrong, according to a new report by the Institute of Economic Affairs, which claims that “contrary to popular belief” countries such as Sweden and Denmark are struggling from rising income inequality, declining economic prowess and low job creation. The [...]
Hope of Greek breakthrough spurs market June 22, 2015 Greece’s creditors said yesterday that the country had submitted its first set of comprehensive reform proposals since negotiations began in February, causing European markets to rally on hopes that a deal would be struck within days. After a Brussels meeting of Eurozone finance ministers, European Council president Donald Tusk said the new draft of proposals [...]
City watchdogs expected to curb restrictions on bonus buy-outs June 22, 2015 Regulators will bow to City warnings that new pay rules threaten to undermine the UK’s competitiveness when they unveil proposals to change the way bonuses are treated when bankers quit their jobs to join a rival firm. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) are expected to announce today that they have [...]
Eurosceptic Business for Britain report sets the stage for Brexit June 22, 2015 A new report from business leaders is giving momentum to an increasingly well-organised group of Eurosceptics who stand to vote “no” - in favour of the UK leaving the European Union – in an in/out referendum. “Change, or go,” a new report from the Eurosceptic Business for Britain campaign group, argues that the UK “could prosper and [...]
Government pumps millions into aerospace technology companies June 22, 2015 Small technology firms will be able to compete for £10m in subsidies under a new government scheme announced yesterday. Speaking at the opening of a new aerospace research facility in Coventry, small business minister Anna Soubry said that the competition aimed to find “game-changing” aerospace technologies. Soubry also announced four new projects with larger firms that [...]
Cameron must take control of EU reform negotiations before referendum says Conservative rebel Tim Loughton June 22, 2015 David Cameron has been told by Conservative rebels to grab EU referendum negotiations by the scruff of the neck. Read more: EU referendum could be held October 2016, according to government source The former children’s minister, Tim Loughton, said leaving the reform plan to civil servants would end up with negotiations turning to mush. Loughton rebelled [...]
Is the UK going to solve its productivity puzzle? Deputy governor of the Bank of England Jon Cunliffe says yes June 22, 2015 The productivity puzzle may soon be solved, according to a high-ranking official at the Bank of England. Read more: Osborne uses speech to lay out government plans to tackle the productivity puzzle Jon Cunliffe, the deputy governor for financial stability, said that surplus labour in the jobs market was drying up, meaning companies would have to [...]
Greek crisis: Athens stocks bounce as Greece outlines offer and Dijsselbloem calls new reform proposals a welcome step in a positive direction June 22, 2015 Stocks in Athens were nine per cent higher in the late afternoon, despite the fact Eurozone finance ministers failed to reach an agreement on Greece. A Euro summit meeting was too late to find a deal, but hope not lost. Greece has apparently ceded ground on several of the main sticking points that had prevented [...]
EU president Donald Tusk describes Greek offer as the “first real proposals in many weeks” as Euro Summit kicks off June 22, 2015 EU council president Donald Tusk has said Greece’s proposals are the “first real proposals in many weeks” as the Euro Summit on Greece kicks off. Read more: Athens stocks bounce as Greece outlines proposals Markets have rallied today, as hope grows that a deal will be reached in the coming days. It is considered unlikely [...]
Peugeot and Siemens chief executives warn Grexit would destroy Europe’s economic recovery June 22, 2015 The heads of some of Europe's largest companies have warned of the negative impacts a Greek exit from the euro would have on the wider European economy. Read more: Greece on the brink ahead of crisis talks They argue that although Greece accounts for just two per cent of the Eurozone's economy, losing it from the [...]