Sterling soars as UK inflation hits 20-month high after Brexit vote August 16, 2016 The pound has jumped this morning after figures showed prices in the UK are rising at their fastest rate since the end of 2014. Inflation came in at 0.6 per cent in July on the consumer prices index (CPI), ahead of expectations and up from a rate of 0.5 per cent in June. Sterling charged [...]
Misery for commuters with 1.9 per cent fare rise as inflation jumps after Brexit vote August 16, 2016 Rail fares will rise by an average of 1.9 per cent next year as inflation has jumped in the first full month after the EU referendum. The consumer prices index (CPI) came in at 0.6 per cent for July, according to the Office for National Statistics (ONS). This was up on the 0.5 per cent [...]
Resolution Foundation argues Brexit won’t solve the low-skilled pay squeeze August 16, 2016 Reducing levels of migration will do little to end the pay squeeze for low-income workers, new research by a leading think tank has found. A report published today by the Resolution Foundation claims while net migration has reduced earnings for some people in the UK, a tighter, post-Brexit clampdown on the numbers of people coming [...]
London has the worst debt crisis in the UK August 16, 2016 Londoners have the most severe debt problems of anybody in the country, according to a leading debt advice charity. StepChange said those living in the capital were more likely to be behind on their monthly payments and typically had higher levels of borrowing than those across the rest of the UK. The findings comes in a [...]
Bank of England prepares for crucial QE test August 15, 2016 All eyes will be on Threadneedle Street tomorrow afternoon as the Bank of England gears up for its next bond-buying mission. To the market's surprise, the Bank of England could not find enough willing sellers of long-term government debt on the open market last week, leading to the first ever time when the Bank was [...]
Sorry, holidaymakers: Sterling hits three-year low against euro August 15, 2016 Sterling has plummeted to a three-year low against the euro today ahead of a big week of post-referendum data. The pound slipped a further 0.5 per cent in the first hours of the week, standing at €1.1517 at lunchtime – its lowest level since August 2013. The €1.15 mark is thought to be a crucial psychological barrier [...]
London Chamber of Commerce warns immigration charges will open up skills gap August 15, 2016 The London Chamber of Commerce warned today that many businesses will struggle to meet the costs of new immigration charges, leading to a skills gap. A survey it conducted with ComRes showed less than a quarter of London business execs believe their firm can afford the £1,000 annual charge per non-EU employee which comes into effect next April. [...]
Three ways life has actually improved for millennials since last year August 15, 2016 Millennials… they might get a bad rap for being lazy, whiney and selfishly obsessed with selfies among other things, but it's a generation that's been saddled with debt, spiralling living costs and lower wages than any previous generation. And the socio-economic situation of young people has remained largely unchanged over the last year, new research reveals, while the bad news is, some areas [...]
Japanese economy grinds to a halt in second quarter with zero growth August 15, 2016 Japan has been confronted with a familiar foe this morning, as its economy recorded zero growth in the second quarter of the year. Despite intervention from government and a looser monetary policy, Prime Minister Shinzo Abe was unable to heave the world's third largest economy into action, with GDP growth coming it at zero per cent [...]
Premier Oil eyes £2.6bn restructuring deal to complete North Sea oil projects August 15, 2016 Premier Oil is targeting a huge £2.6bn restructuring deal with lenders, ahead of the release of its first half financial results this Thursday. The FTSE 250-listed oil explorer has suffered poor fortunes since the oil price collapse of 2014 and 2015, with pre-tax losses deepening further to $830m in 2015. It has been in talks with [...]