Low yacht inflation is helping billionaires boost their net worths during a “golden era” akin to Victorian times June 8, 2015 Negligible inflation may be helping the average shopper splurge more cash down the supermarket, but when it comes to billionaires it is helping pave the way for relatively cheaper yachts, luxury homes and staff. The average European billionaire has seen their wealth increase by 11.9 per cent in the last year, taking their net [...]
London firms’ expansion slows amid broader decline in growth June 7, 2015 London businesses are growing steadily despite the rate of growth slipping to a five-month low in May, new survey figures show. A business activity purchasing managers’ index compiled by Lloyds Bank dropped to a score of 57 for London from April’s 60.2, according to data published today. Scores above 50 indicate an expansion [...]
Commodity and currency desks lead rapid growth in City hiring as job numbers rise June 7, 2015 City job creation is on the climb thanks to a revival in hiring on banks’ fixed income, commodities and currencies trading desks (Ficc). There were 4,100 new City roles created in May, up 52 per cent on the same month last year, according to figures released today by recruiters Astbury Marsden. It also marks a [...]
Air passengers in UK face highest flight taxes across entire world June 7, 2015 Brits flying off on long haul holidays this summer will pay nearly £50 more tax than travellers from other G7 nations, a new ranking of air passenger levies has found. UK travellers will pay £71 each in tax for a long haul economy flight, compared to an average £23 levied in France, Germany, Italy, Japan [...]
UK house prices: Building new properties doesn’t drive down prices, study shows June 7, 2015 Building new properties doesn't drive down house prices, according to a study by the London School of Economics. By looking at the price impacts of a series of Barrat Homes developments in suburbs and villages over the past five years, the researchers found no evidence of a price depreciation. In fact, in some cases [...]
Non-farm payroll: US jobs in biggest jump this year June 5, 2015 After weeks of disappointing economic figures, there's finally a glimmer of hope for the US economy: non-farm payroll figures out today showed the number of job openings jumped by 280,000 in May. That's up from 221,000 in April – and the best figure this year. Read more: Stephanie Flanders – Can a currency save an [...]
Hanging on the telephone: Greek Prime Minister Alexis Tsipras arranges call with Vladimir Putin June 5, 2015 As the chances of Greece ever unlocking that €7.2bn emergency loan look increasingly bleak, the country's embattled Prime Minister, Alexis Tsipras, has taken a step towards a decidedly nuclear option. The FT reported that Tsipras has arranged a call with Russian President Vladimir Putin later today. Apparently there isn't much information on what will be discussed – [...]
A room with a view? A house in a national park could cost you 93 per cent more than the average June 5, 2015 How much would you pay for a room with a view? House prices in Britain’s national parks and areas of outstanding natural beauty (AONB) are commanding up to 125 per cent more than the average house price in their host counties, according to research from Knight Frank. In 10 of the country’s 13 national parks, [...]
Fears for UK economic recovery as slowing job growth puts more pressure on the service sector June 5, 2015 Not great news for the UK's jobs market: research from REC and KPMG has revealed that the rate of hiring had slowed to a four-month low, with the bullish service sector carrying the majority of the load. The data comes just two days after a report showed growth in the UK’s service sector slowed at [...]