Cheap oil has potential to give UK extra 121,000 jobs in 2016 March 9, 2015 The UK economy could be set for a massive jobs boost next year, provided oil prices remain subdued, financial services firm PwC said today. An oil price of $50 per barrel would create an extra 121,000 jobs in 2016 compared to if prices had stayed at their mid-2014 level of $108, PWC forecasts. It is [...]
Britons splash out on holidays in February after confidence boost March 9, 2015 Consumer spending power hit a seven-month high in February as higher wage growth, falling inflation and lower petrol costs helped boost confidence. Britons spent 4.1 per cent more last month than at the same time a year earlier thanks to people spending more on travel and leisure activities around the February half-term, according to figures [...]
Boris Johnson’s apprenticeship plan will not meet target, says Labour March 9, 2015 Figures released by Labour at the start of National Apprenticeship Week claim that Boris Johnson is unlikely to meet his target of creating 250,000 apprenticeships by the time he leaves City Hall in 2016. Labour London Assembly Members say government figures show only 96,500 apprenticeships were created from 2012 until 2014. They also criticise the [...]
Increasing life expectancy could cause problems for UK economy March 9, 2015 Life expectancy in the UK is improving, which could present the country with a “significant economic danger” if the extra years of peoples’ lives are not spent in good health and prosperity, academics have warned. Research conducted by Cass Business School in partnership with the International Longevity Centre (ILC) UK has found that age at [...]
Traders at Barclays and Deutsche Bank questioned over Euribor rigging March 8, 2015 The Serious Fraud Office (SFO) is questioning former traders from Barclays and Deutsche Bank over possible Euribor rigging. According to the FT, which spoke to sources close to the matter, they are being interviewed “under caution”. This means the UK fraud investigators must have at least a reasonable suspicion of wrongdoing, and this type of [...]
The Eurozone’s quantitative easing programme is about to start – here’s what you need to know March 8, 2015 Tomorrow is the launch of the Eurozone's long-awaited quantitative easing programme, as the European Central Bank (ECB) starts buying back €1trn (£720bn) worth of bonds from the bloc's member states. The scheme, which aims to boost Europe's economy, was finalised on Thursday, with ECB President Mario Draghi citing the success of similar programmes launched by [...]
Income tax rate 2015: Is an £11,000 personal tax-free allowance on the cards in Osborne’s Budget speech? March 8, 2015 The nation could be in for a treat and find more cash in their pocket from April as part of a pre-election tax pledge by the Conservatives and Lib Dems. George Osborne is planning to raise the tax-free allowance further in what could be the chancellor’s last ever budget, due to be announced in less [...]
Inflation expectations slide to 13-year low March 6, 2015 Britain's expectations for inflation over the next 12 months have fallen to a level not seen in 13 years. The Bank of England's survey showed people's inflation expectations for the year ahead slumped to 1.9 per cent, down from 2.5 per cent in November, or the lowest since 2002. "While inflation expectations have softened appreciably [...]
50 is the most expensive age as expenses stack up from mortgages, children, saving for retirement… and holidays March 6, 2015 People expecting to sit back and relax thanks to getting themselves into a comfortable financial position by the time they hit 50 years old, may not be quite as carefree as first thought. By 50, Britons have picked up a large bill, racking up more expenses than at any other time in life. The cost [...]
Eurozone: We are on the road to recovery March 5, 2015 The European Central Bank’s (ECB) landmark €1.1 trillion (£800bn) debt-buying programme will kick off on Sunday and boost Eurozone growth throughout 2015 and 2016, a confident Mario Draghi announced yesterday. ECB president Draghi and the bank’s forecasters are confident the programme – also known as quantitative easing (QE) – will be effective at rescuing the Eurozone [...]