Supermarket sales slide into reverse as price war hits petrol pumps August 10, 2015 A fierce supermarket price war at both the tills and the petrol pumps has caused sales in the sector to shrink for the first time since records began over 20 years ago. With retailers kicking off another round of petrol price cuts today, fresh data shows how supermarket giants’ troubles are dragging on the UK’s [...]
Gender equality group to set pay target for female FTSE 100 execs August 10, 2015 The government-backed committee charged with promoting greater gender equality among UK companies is considering targeting earnings as its next campaign issue. The Davies Review is looking into ways to push the gender equality agenda forwards, after UK firms reached its original target of appointing women to 25 per cent of FTSE 100 board positions earlier [...]
Frackers urge Whitehall: Fast track our plans August 10, 2015 Fracking companies yesterday urged the government to press forward with plans to fast-track their applications following an intervention by Amber Rudd, the energy secretary. Rudd’s colleague at the ministry, Andrea Leadsom, echoed the secretary of state’s support for fracking, telling City A.M.: “We are exploring ways to really kickstart the industry as we know it [...]
Top banks could face millions in new PPI claims over commission August 10, 2015 Britain’s top banks are facing further fall out from the mis-selling of payment protection insurance (PPI). The latest potential threat comes from a case brought by lecturer Susan Plevin, over a loan and PPI policy taken out in 2006. She was unaware that more than 70 per cent of the commission she paid on the [...]
Employers turn to graduates as skills shortages bite August 10, 2015 Businesses are turning more towards graduates and apprentices to fill their skills gaps, new survey figures reveal this morning. Apprentices are currently seen as the best way to fill skills gaps by 33 per cent of employers, according to the Chartered Institute of Personnel and Development (CIPD). It marks a climb on spring 2014’s 22 [...]
Philip Hammond says migrants hit EU living standards and demands clamp down on African immigration August 10, 2015 Foreign secretary Philip Hammond claimed yesterday that European living standards are at risk unless the continent clamps down on immigration from Africa. Speaking in Singapore, Hammond said: “So long as the European Union’s laws are the way they are, many of them will only have to set foot in Europe to be pretty confident that [...]
Bank executives fear regulation is harming the UK’s international competitiveness August 10, 2015 Tough regulation of the banking sector is harming the UK’s international competitiveness, according to a poll of executives published this morning. Thousands of pages of regulation were written up in response to the financial crisis, and new rules are constantly being added to them. But many of the rules are negatively affecting the UK’s global [...]
London house prices up 45pc in five years: Home movers put off as figures soar August 9, 2015 The number of people moving home is in decline, new figures out today show. Rising prices, which many attribute to a lack of house building, may be hindering people from moving up the rungs of the housing ladder, according to the study from Lloyds Bank. The number of home movers reached 155,000 in the first [...]
Hotels and restaurants lead the UK’s summer spending splurge August 9, 2015 Britons are splashing out more this summer, according to figures released today by a major card provider. Spending on hotels and restaurants was 8.6 per cent higher in July than in the same month last year, Visa said. Shoppers also spent 5.6 per cent more on recreation and culture. It took total spending growth (not [...]
Professional jobseekers spoiled for choice as competition for workers increases August 9, 2015 Professional workers are seeing more competition for their skills, a recruiter said today. Available candidates are being scooped up, with 22 per cent fewer jobseekers in July than in the same month last year, according to figures given exclusively to City A.M. by Robert Walters. Meanwhile, opportunities are on the rise with 9,585 vacancies in [...]