European markets fall on Greece jitters ahead of IMF payment deadline June 4, 2015 European markets opened lower this morning after last-minute talks between European Commission President Jean-Claude Juncker, Eurogroup President Jeroen Dijsselbloem and Greek Prime Minister Alexis Tsipras failed to reach a conclusion ahead of a crucial deadline on Friday. The FTSE 100 was down 0.84 per cent in early morning trading, while Germany's Dax fell 0.68 per [...]
Plastic eclipses paper cash as card payments soar to £600bn June 3, 2015 Three quarters of all retail spending is now conducted by card, with transaction volumes topping £600bn during 2014 according to new research by The UK Cards Association released today. Data compiled by the industry body revealed over £19,000 was spent on card every second last year, partially driven by the increased use of contactless payments [...]
Britain’s jobs market has taken off and wages are starting to rise – are young workers benefiting? June 3, 2015 It is not easy moving from school to the office. It has always been a difficult jump, and in the financial crisis, some found it impossible. Witness the surge in youth unemployment in the financial crisis, soaring from 12 per cent at the start of 2008 to 20.2 per cent in early 2011, for [...]
Eurozone economic recovery struggling to gain momentum as unemployment remains high June 3, 2015 Unemployment in the currency bloc was still high at 11.1 per cent in April The Eurozone economy is gradually improving but its recovery is failing to build on a solid start to the year, figures published yesterday show. The rate of joblessness in the Eurozone edged down in April, marking 24 months of [...]
One chart showing Greece’s upcoming repayment deadlines June 3, 2015 There are whispers this could be week the Greece finally manages to agree a deal with its creditors, unlocking billions of euros and staving off bankruptcy. Greece must pay €1.6bn (£1.2bn) to the International Monetary Fund (IMF) between now and 19 June – starting with €300m (£218m) due on Friday. If it misses this deadline it'll get [...]
A third of all new businesses will be pop-ups by 2017 June 3, 2015 It seems the pop-up revolution has well and truly begun, after new research showed 11.6m people plan to start their own business ventures within the next two years and 29 per cent of those plan to start out with pop-ups. The study, by EE, showed pop-ups, shops that open short-term businesses in available retail space, [...]
Pound down against the dollar as UK service sector’s growth slows at the fastest rate in four years, hitting four month low June 3, 2015 The UK services sector has suffered the biggest dent in its growth since 2011 in what could be a sign of a weakening recovery, causing the pound to drop 0.4 per cent against the dollar. This took the exchange rate to $1.5275 for every pound. The Markit/CIPS purchasing manager’s index, a measure of growth in [...]
TPP: Wikileaks crowdfunds bounty for trade deal secrets of Trans-Pacific Trade Partnership June 3, 2015 Wikileaks is seeking to get hold of confidential information about the major free trade deal being negotiated between the US and Asia – by crowdfunding a $100,000 reward. The whistleblowing organisation has already raised a third of the money it needs to put up as a bounty for information about the Trans-Pacific Partnership (TPP) from [...]
UK house prices: The proportion of house buyers shunning mortgages for cash purchases has hit a record high June 3, 2015 More people than ever before are buying houses without the need for a mortgage, according to new figures. Almost four in 10 people (38 per cent) paid for their properties in cash during the first quarter of the year, Nationwide has said. This mitigated subdued mortgage lending data to some extent. There are signs that [...]
With debt of £221,000 per household, Generation Y will be the first generation to experience a lower quality of life than its parents June 3, 2015 The UK is a nation of secret debt addicts, and Generation Y (those born after 1980) is going to be left to pick up the tab, a study by the Centre for Policy Studies (CPS) warned today – meaning it will be the first generation to be worse off than its parents. The think tank [...]