Challenger banks face an uphill battle as George Osborne widens levy net July 15, 2015 The heads of the UK’s fast-growing crop of challenger banks were entitled to reach for a stiff lunchtime drink as they absorbed the first Conservative Budget for two decades last week. At a stroke, George Osborne’s decision to impose a super-tax on industry profits above £25m undermined everything he has said about broadening competition [...]
In photos: Riots erupt in Greece as Alexis Tsipras urges MPs to back bailout July 15, 2015 Anarchist protestors and Greek riot police clashed violently outside the Athens parliament while MPs gathered inside to vote on reforms demanded by its creditors in its bailout package. Read more: Referendum spurs Greek job hunters to search abroad… and the UK is a favourite Stones and molotov cocktails were thrown at Greek police and a [...]
European Banking Authority agrees key features of 2016 EU-wide stress test July 15, 2015 The biggest banks in Europe will soon face more stress tests to ensure they are in a position to weather any further storms in the financial markets following the global financial crisis. The European Banking Authority (EBA) has agreed some key elements of an EU-wide stress test due to take place in 2016, based on [...]
Iran nuclear deal: From oil prices to GDP, how have sanctions affected the country? July 15, 2015 After nine years of negotiations between Iran and leaders from the snappily-titled "P5 +1" nations – the US, the UK, France, Russia, China and Germany – agreed yesterday to lift sanctions on Iran. But what does that mean for the country's economy? Sanctions were first applied to Iran in 1979, after the storming of the [...]
Women’s confidence in fair pay plummets as fewer women than men expect a pay rise July 15, 2015 Women are far less likely than men to expect a pay rise in the next year. Just 27 per cent of women feel “confident” that they will get a raise within the next 12 months, compared to 40 per cent of men, according to a new survey from careers website Glassdoor. Overall, expectations of a [...]
Where can you earn most? Wages grow fastest in Northern Ireland, Wales and North East – but London still has the highest salaries July 15, 2015 Yes, wages are still highest in London – but the capital isn’t where salaries are growing fastest. Wage growth is higher than it’s been for five years, showed fresh labour market statistics released by the Office for National Statistics today. This is far from evenly split, however. Those working in Northern Ireland, the North East [...]
Wage growth hits five-year high but unemployment rises July 15, 2015 While UK wage growth soared to a five-year high in the three months to May, unemployment unexpectedly rose for the first time in more than two years. Average weekly earnings, including bonuses, rose 3.2 per cent during this period, slightly below economists' expectations for a 3.3 per cent rise according to figures released today by the Office [...]
British Gas to cut household prices by five per cent July 15, 2015 British Gas has promised to cut household gas bills by five per cent – the second such reduction in six months. The price cut will come into effect for British Gas' 6.9 million customers from 27 August. The utilities giant said this latest drop would save the average home £35. In total this year's [...]
Britain’s night-time economy is valuable and needs protecting July 15, 2015 Summer in the UK is renowned for its festival calendar with Glastonbury, Wireless, Reading, V Festival and Bestival attracting revelers – young and old – from across the UK, Europe and further afield. But beyond the headline live music festivals, pop-ups such as Notting Hill Carnival, Lovebox, the Somerset House Summer Series and Opera in [...]
International Monetary Fund slams Greece deal, encouraging lenders to write down debt July 15, 2015 The International Monetary Fund (IMF), one of Greece's three key lenders, has heavily criticised a deal it reached with its creditors at a summit over the weekend, saying the country's debts have become "highly unsustainable". On Monday the Fund had said it "stands ready to work with the Greek authorities and the European partners" on [...]