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 [...]
E-books cannot have a lower rate of VAT, says European court March 5, 2015 E-BOOKS cannot have a lower rate of VAT applied to them, the European Court of Justice (ECJ) ruled yesterday. The Luxembourg- based court was adjudicating on a case brought by France and Luxembourg, to try and have e-books subject to the same lower rate of VAT that hardcopy books are. However, ECJ judges said: “The [...]
Local level cuts hit London and poorest hardest March 5, 2015 CUTS to local government spending will hit London boroughs harder than the rest of England, a think tank has said today. Spending per person has been cut by 23.4 per cent between 2009-10 (the year to April 2010) and 2014-15 when accounting for inflation, the Institute for Fiscal Studies (IFS) said. But the size of [...]
Greek banks are safe for now as deposit outflows grind to a halt March 5, 2015 The worst may be over for Greek banks, with deposit flows looking to have halted at just over €20bn (£14bn). “Based on discussions we had with Greek banks, it seems that deposit outflows have abated last week following the Eurogroup decision on 20 February,” Nondas Nicolaides, a senior credit officer at ratings agency Moody’s told City [...]