Greek crisis: UK stepping up contingency plans for Grexit says George Osborne June 17, 2015 The government has started planning for a Greek exit from the Eurozone, George Osborne has confirmed. Read more: European Commission President Jean-Claude Juncker says Greece has been misleading its voters A Grexit would pose "serious economic risks" to the UK, the chancellor said today, as David Cameron prepares to discuss the crisis with Italy's Prime Minister [...]
Sterling jumps as UK wage growth smashes expectations and unemployment falls again June 17, 2015 The pound leaped 0.54 per cent against the dollar to $1.5715 this morning, after data from the Office for National Statistics showed wages grew 2.7 per cent between February and April. Wage growth is at its fastest rate since Augest 2001, smashing expectations of 2.5 per cent. It is significantly higher than inflation, which stands at 0.1 [...]
Bank of England Monetary Policy Committee meeting minutes show members vote 9-0 to keep rates unchanged in June June 17, 2015 The Bank of England's Monetary Policy Committee voted 9-0 to keep interest rates unchanged at its meeting ending June 3 minutes released today have shown. Read more: UK shrugs off deflation as prices rise 0.1 per cent in May All nine members voted to hold interest rates at 0.5 per cent, although two members said their [...]
Eurozone inflation rises 0.3 per cent in May June 17, 2015 Eurozone inflation rose 0.3 per cent in the year to May a second estimate released today by statistics agency Eurostat has shown, in line with economists' expectations, and up from zero in April. The largest prices increases came from vegetables which rose 0.09 per cent, restaurants and cafes which increased 0.08 per cent and tobacco [...]
Syriza defiant despite Greek bank troubles June 16, 2015 The International Monetary Fund bears “criminal responsibility” for the damage caused to Greece’s economy since its first bailout, the country’s Prime Minister, Alexis Tsipras, said during a powerful speech yesterday. Meanwhile Greek Finance Minister Yanis Varoufakis has said a “Grexit” would not be a sensible solution and called for debt restructuring. Tsipras told his MPs [...]
London is cheaper to base expat staff than Hong Kong or Geneva June 16, 2015 HSBC bankers and mining expats look away now: London is cheaper to live than Hong Kong, Geneva and the mining capital of Angola, Luanda, according to a new study. London came 12th in the cost of living poll, which assessed the costliest places for multinational organisations to base their expatriate staff – well behind [...]
Small firms grow at fastest rate since 2008 June 16, 2015 Small and medium-sized enterprises (SMEs) are growing at their fastest rate since the economic crisis in 2008, according to a report out today. New research from the Enterprise Research Centre (ERC) shows that the private sector added over 600,000 net new jobs last year, allowing SMEs to “regain the ground lost” in 2008. The ERC said [...]
Homebuyers ready to sacrifice space for more shops and bars June 16, 2015 The number of homebuyers that are prepared to sacrifice space in favour of a short commute to work or better nightlife has jumped over the last year, according to a new survey by Santander Mortgages. According to research published by the bank today, Britons are increasingly turning into a “recreation nation”, with those citing proximity [...]
Alexis Tsipras: International Monetary Fund bears “criminal responsibility” for Greek crisis, as survey shows fund managers aren’t prepared for Brexit June 16, 2015 The International Monetary Fund (IMF) bears "criminal responsibility" for the damage caused to Greece's economy since its first bailout, the country's Prime Minister, Alexis Tsipras, said during a powerful speech today. Read more: Debate – Should Greece accept it's better off without the euro? During a televised speech from parliament in Athens, Tsipras lost his [...]
The world’s richest regions: Asia Pacific overtakes Europe June 16, 2015 Asia Pacific (excluding Japan) leapfrogged Europe to become the world's second richest region last year, in a ranking by Boston Consulting Group (BCG). The region counted $47.3 trillion in private wealth in 2014 surpassing Western Europe's $39.6 trillion, largely due to an increase in the number of new millionaires in India and China. This meant [...]