UK economic growth rises to 0.6 per cent in final quarter of 2014 March 31, 2015 In what could be a general election boost for the Tories, Britain's economy grew more than previously thought in the final three months of last year, official data has shown. Gross domestic product (GDP) increased by 0.6 per cent in the final quarter of 2014, up 0.1 percentage points from the previous estimate, according to data [...]
UK consumer confidence at a 13-year high in March March 30, 2015 Consumer confidence soared to a 13-year high in March, with Britons preparing to splash their cash over the long Easter weekend. GfK’s closely watched index rose by three points to a score of plus four in March compared with the previous month, with consumers more upbeat in all five areas used to track confidence. The [...]
Bank of England stress test: British lenders assessed against global economic crunch March 30, 2015 Britain's biggest banks have to prove they could withstand a global economic crunch, under a stress test unveiled by the Bank of England yesterday. The fictional scenario is based on real fears that a slowdown in China and renewed recession in Europe could hit the UK economy and its banks. The six biggest banks [...]
Headache for retailers as business rates to reach record level in 2017 March 30, 2015 Businesses will be footing a rates bill based on half of the rental value of their properties – the highest level yet – according to research out today. Business rates, charged on commercial properties including offices and shops, are calculated according to their rental value. The system has been blamed for the demise of the [...]
US oil production posts largest increase in over a century March 30, 2015 Last year US oil production posted its largest volume increase since record keeping began over a century ago. The Energy Information Administration (EIA) said it increased to1.2m barrels per day last year, pumping out a total 8.7m barrels per day. This was the largest volume increase since record-keeping began over a century ago. "Most of the [...]
Savers rush to fill their Isas as personal finance “Christmas sales” approach March 30, 2015 It's that time of the year again – as the end of the tax year approaches, the nation's cash-rich are in a savings frenzy, hurrying to stow as much in an Isa as possible. In fact, financial adviser Hargreaves Lansdown suggests, savers will put £2.6bn into stocks and shares Isas this week. According to the [...]
European markets rise on Fed rate hike caution March 30, 2015 European markets started the day higher, after comments made by US Federal Reserve chief Janet Yellen hinted at "gradual" rate rises, reassuring investors. The FTSE 100 opened 0.6 per cent up, while Germany's Dax jumped 1.23 per cent and France's Cac 40 rose one per cent. Investors have showed caution in recent weeks after a [...]
Chinese boom fuels jump in global deals March 29, 2015 A wave of mergers and acquisitions (M&A) is on the way this year, driving a hiring boom in the City and shaking up industries across the globe. A combination of ultra-low interest rates and increasing confidence in the economy has encouraged firms to buy up rivals. And firms which see little room for organic growth [...]
Employees expecting weak pay rises could risk economic recovery, economist warns March 29, 2015 Employees are anticipating a year of weak pay growth, a set of new survey data shows, with one economist warning it could hamper the UK’s economic recovery. “The survey data indicate that there are clearly few signs of pay growth picking up in 2015. This is a major concern as the sustainability of the economic [...]
Job market swings in workers’ favour as vacancy numbers soar March 29, 2015 The number of job opportunities grew strongly in February, new figures show. Professional recruiters had 21 per cent more vacancies in February than a year ago, according to data released today by the Association of Professional Staffing Companies. Permanent vacancies across engineering, IT, and finance and accounting rose by 25, 27 and 12 per cent [...]