George Osborne’s great government sell-off: Taxpayers risk getting burnt as sun may yet shine on RBS June 10, 2015 So after almost seven years, the moment has arrived. The symbolic importance of George Osborne’s announcement last night that the Treasury is to begin selling Royal Bank of Scotland (RBS) shares at a loss is hard to overstate. “I’m not interested in what is easy – I’m interested in what is right,” he told [...]
Alexis Tsipras: Lenders want Greece to return to growth June 10, 2015 Greece’s Prime Minister emerged from another round of crunch talks with the country’s creditors in the early hours of this morning, insisting that his fellow leaders are leaning towards his way of thinking. Alexis Tsipras met with Angela Merkel and Francois Hollande in Brussels and when he left the building he insisted the German and [...]
North Sea firms forced to slash projects in face of low oil price June 10, 2015 Over two-thirds of North Sea oil firms have been forced to scrap projects due to plummeting oil prices over the past year, a new report reveals today. Although the price of benchmark Brent crude has rallied in the last few days, trading yesterday at around $66 a barrel, it has yet to approach the level [...]
Business says PM is giving the wrong answer on immigration June 10, 2015 Business groups roundly rejected the Prime Minister’s latest proposals to cut migration, saying they were “not the answer,” “far less business-friendly” and a “red herring” in the immigration debate. Speaking during Prime Minister’s Questions yesterday, David Cameron said that the independent Migration Advisory Committee (Mac) was looking at proposals to cut non-European work migration, including [...]
Heathrow or Gatwick runway expansion? Business groups slam delay over airports action June 10, 2015 Politicians must act quickly to implement the recommendations of the Airports Commission or risk being accused of dithering, business groups said yesterday, hitting out at reports that it could be early 2016 before any government action is taken. The commission, overseen by ex-City watchdog Sir Howard Davies, has been looking into the state of [...]
UK house price growth expected to surge as post-election supply bounce lacking June 10, 2015 Hopes for a post-election surge in the supply of houses to the market have failed to materialise, the Royal Institution of Chartered Surveyors (RICS) said today. “Tight supply conditions continue to be a key factor underpinning prices, with fresh instructions to sell becoming increasingly sparse while average stocks per surveyor fell to a new record [...]
City jobs and pay growth boom as more workers look to move June 10, 2015 The number of City jobs new to the market shot up by 13 per cent year-on-year in May, according to figures released today by recruiters Morgan McKinley. Meanwhile, the average increase in pay for someone moving jobs was 18 per cent in May, compared with 19 per cent April. More professionals, both in an out [...]
EU in/out referendum: Labour wants Bank of England to publish the costs of Brexit June 10, 2015 The Bank of England and the Office for Budget Responsibility (OBR) should publish an assessment of the economic impact of Britain leaving the European Union at least 10 weeks before an in/out referendum, the Labour party has said. Labour backed the EU referendum bill at its second reading on Tuesday, but it is understood that [...]
Mansion House Speeches 2015: What do the analysts think? June 10, 2015 Chancellor George Osborne and Bank of England Governor Mark Carney have both said their parts at the annual Mansion House speeches, but what do the analysts think? New Budget surplus rule John Cridland, director-general at CBI, says the budget plan will be good for businesses: Business wants the Government to aim for an absolute [...]
Mansion House Speech 2015: Chancellor George Osborne will start government RBS sell off as soon as possible June 10, 2015 In his annual Mansion House Speech this evening, chancellor George Osborne announced that the government will begin to sell off its stake in the Royal Bank of Scotland (RBS), even is it is at a loss. He said a “decision point” had been reached, and that it was in the interest of taxpayers to [...]