Purchasing Managers’ Index: Eurozone manufacturers shrug off Greek debt crisis in July August 3, 2015 The Eurozone's manufacturing sector continued to grow modestly in July, suggesting any effect from the Greek debt crisis remained limited. Markit's Eurozone manufacturing PMI hit 52.4 in July, ahead of the earlier flash estimate of 52.2, and also above the crucial 50 mark which indicates growth. This also meant it managed to hold close to June's [...]
Commodity prices hit corporate spending – global capex down at least 10per cent dragged by sliding energy and mining sector August 3, 2015 The long slide of commodities prices is taking its toll on corporate spending, it seems: global expenditure is predicted to shrink by at least 10 per cent this year, according to new research from rating agency Standard & Poor's (S&P). Spending is expected to continue falling well into next year, according to S&P’s forecast, before [...]
Bank of England hawks to vote for interest rate hike on Super Thursday August 2, 2015 The Bank of England will for the first time release a string of reports alongside its monthly monetary policy decision this week. And at least two hawks are expected to break rank and vote in favour of an interest rate hike. The so-called Super Thursday meeting will see the central bank publish its monthly decision [...]
UK immigration: Jump in accountancy and finance skilled non-EU workers as recruiters warn on visa rules August 2, 2015 There has been a sharp rise in the number of non-European Union finance professionals coming to the UK, new figures show this morning, highlighting the importance of firms’ access to skilled non-EU workers. The number of accountancy and finance professionals who entered the UK in 2014 climbed to 3,204, according to data from the [...]
Research reveals London’s lead as Europe’s top financial centre August 2, 2015 London was top of the pile of Europe’s biggest financial centres during the first three months of the year, with new research shedding light on the City’s contribution to the UK economy. The London Stock Exchange accounted for 28 per cent of total funds raised in Europe during the three months to March, according to [...]
Seven-year decline in lending to businesses set to end this year, says EY Item Club August 2, 2015 Business lending will grow for the first time since 2008, a group of economic forecasters said today. Banks lent £103.4bn to UK businesses in the first half of 2015 compared with £88.6bn in the first half of 2014. This trend is expected to continue throughout the rest of the year, according to the EY Item [...]
Small businesses growing amid underwhelming export figures August 2, 2015 Small-and medium-sized manufacturers saw growth in the three months to July, despite a dramatic fall in export prices, according to a new survey out today. According to the latest Confederation of British Industry (CBI) SME trends survey, companies reported steady growth in domestic orders, a rise in output in line with expectations and a slight [...]
Number of complaints about energy services to Ombudsman spike August 2, 2015 Complaints over poor energy services are on the rise, with mediator Ombudsman Services reporting a 55 per cent rise in dissatisfied customers this year. Over 35,000 complaints have been lodged to the mediator since January – up sharply from the same period in 2014. Despite the annual rise in complaints, the organisation said [...]
Greek shares anticipated to plunge as much as 20 per cent when stock exchange reopens August 2, 2015 The Athens Stock Exchange is anticipated to tumble by as much as 20 per cent as traders expect a tumultuous day of trading when the Greek stock market reopens tomorrow after a five-week closure. “The possibility of seeing even a single share rise in tomorrow’s session is almost zero,” said Takis Zamanis, chief trader at [...]
The government’s RBS share sell-off is about to begin: Here’s what you need to know August 2, 2015 This week, George Osborne is due to kick start the government's sale of its 78 per cent stake in Royal Bank of Scotland (RBS). Read more: Mansion House Speech 2015: Chancellor George Osborne will start government RBS sell-off as soon as possible The chancellor's plan to offload the shares was announced during his Mansion [...]