UK productivity fell in fourth quarter of 2018 as economic growth faltered February 19, 2019 The UK suffered a “disappointing” fall in productivity at the end of last year as GDP slowed, rounding off a sluggish 2018. Productivity – measured as output per hours worked – fell 0.2 per cent in the fourth quarter compared with the same period in 2017, according to the Office for National Statistics. Read more: [...]
British Gas the fourth of the Big Six energy suppliers to boost prices after Ofgem’s price cap February 19, 2019 British Gas, the country's biggest energy supplier, becomes the fourth of the Big Six energy companies to raise its prices after Ofgem, the energy regulator, increased the price cap on gas and electricity bills. Customers of British Gas can expect the standard variable tariff to increase by £117 for 3.5m customers starting 1 April. Stephen Murray, [...]
Wages grow at their fastest rate since 2008 as employment rate hits joint record high February 19, 2019 UK wages grew at their fastest pace in a decade in the final three months of last year. Wages grew 3.4 per cent for October to December last year, according to the Office for National Statistics, up from 3.3 per cent growth to November, as vacancies reached a new record high. The employment rate 75.8 [...]
BHP profits slump after mining production outages February 19, 2019 Mining giant BHP reported an eight per cent slip in profits in its half-year results this morning due to unplanned production outages. Underlying attributable profit was $3.7bn (£2.86bn) in the six months to the end of December 2018 the company said. Read more: Derailed train punches $600m hole in miner BHP's books Productivity guidance is [...]
Beyond the bottom line: UK asset managers aren’t ready for new stewardship rules – should we be worried? February 19, 2019 From questionable corporate incentives to excessive risk-taking, there were plenty of red flags that should have warned asset managers of the impending financial crisis in 2008. And yet, many turned a blind eye, ultimately choosing to risk people’s pension savings for the sake of short-term gains. Since then, codes of practice have been introduced around [...]
Want a more future-focused government? Climate action is just the start February 19, 2019 The reaction was predictable. Last week’s Climate Strike by schoolchildren was met with an inane debate about whether or not the pupils were right to “play truant”. This dialogue of the deaf was a missed opportunity. Politicians should take seriously the protesters’ demand that they “recognise that young people have the biggest stake in our [...]
A real Labour split won’t guarantee a surge in sterling February 19, 2019 Investors who are predicting a sterling rally if there if a full-blown split in the UK’s opposition party are likely to be sorely mistaken. The Labour party has leaned increasingly to the left since Jeremy Corbyn took the reins in 2015. Many currency experts have warned about his policies, saying that they fear a Labour [...]
Brazilian miners told to decommission hundreds of dams after deadly Vale tragedy February 18, 2019 Brazil has banned all mine dams like the one which burst last month, killing over 300 people in the state of Minas Gerais. The country’s mining regulator said it will force companies to decommission all upstream dams, which are used to gather waste from the mining process. Read more: Eight Vale employees arrested in probe [...]
Plus500 shares continue to slide as broker questions ‘disturbing’ error in annual report February 18, 2019 Shares in online trading platform Plus500 slid a further 10 per cent today as the fallout from its $103m accounting error continued. On Friday the company said that a statement in its 2017 annual accounts saying that it suffered no losses from client trading was a “drafting error”. Read more: Plus500 shares plummet for second [...]
Oil prices hit three-month high as Brent oil chases best first quarter in eight years February 18, 2019 A rise in global oil prices has petered out after briefly reaching a three-month high this morning. International standard Brent crude reached prices of $66.79 per barrel at around 8.30am, but has since given back some gains. Read more: Oil prices end the week more than five per cent up and end on a 2019 high [...]