Productivity puzzle solved? Productivity set to increase by over 10 per cent over the next five years June 23, 2015 Britons’ disposable income will be driven up from an increase in productivity over the next five years, but employment growth will not follow the same upward trend, according to research out today. Economists at Oxford Economics are predicting a dramatic turnaround with significant improvements forecast between 2015 and 2020. Productivity will rise by 10.7 per [...]
UK property prices: Property sales tick up in May – but the outlook is uncertain June 23, 2015 The number of UK residential properties sold climbed in May, new data show. A total of 98,540 properties changed hands, according to figures released by HMRC yesterday. It marks a rise on April’s 97,610. However the market is slower than it was a year ago when 101,710 properties were sold. The figures translate to a [...]
Cole Commission calls for an overhaul of export approach June 23, 2015 A review of the UK’s export industry has called for cabinet-level political leadership to boost firms’ access to foreign markets. The proposals suggested in the Cole Commission published today also include a public procurement strategy to encourage firms that sell to the government to help small and medium-sized UK firms start up their export operations. [...]
Eurozone business growth accelerates to a four-year high in June June 23, 2015 Eurozone business growth accelerated to a four-year high in June, as factories and services firms reported stronger growth and hiring. The Markit Composite Flash Purchasing Managers' Index (PMI) rose to 54.1 in June, up from 53.6 a month earlier, and in line with economists' expectations. PMI has now been above the crucial 50 threshold that separates [...]
Greek crisis: Four questions we still need answers to June 23, 2015 European stocks rallied again this morning, after it appeared negotiations between Greece and its creditors went well last night, with European Union President Jean-Claude Juncker saying he's "convinced" a deal will happen this week. But only the next act will show whether this was always going to be a Greek tragedy, or whether it was [...]
US Treasury secretary Jack Lew urges an agreement as Greek drama continues June 23, 2015 The United States has heaped on the pressure for a deal between Greece and its creditors with Jack Lew, the US treasury Secretary, holding phone calls with Greek Prime Minister Alexis Tsipras to push for an agreement in a “delicate” situation. "The Prime Minister had a phone conversation with US Treasury secretary Jack Lew in [...]
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 [...]