Security firm G4S reports results this week March 5, 2017 Security firm G4S will be reporting its 2016 full year results on Wednesday, the same day as the budget. This week’s numbers will spotlight the extent to which the group’s chief exec, Ashley Almanza has been successful in turning around the beleaguered company. Investors will be keen to see what progress the company has made [...]
Aviva and Legal General set to report profit rises March 5, 2017 Insurers Aviva and Legal & General are expected to report profit rises when they report on Wednesday and Thursday respectively next week. Analysts expect Aviva’s full-year operating profits to rise 8 per cent to £2.9bn and Legal & General is likely to advise operating profit increases of £1.6bn, an increase of 13 per cent, compared [...]
Chancellor Philip Hammond expected to bank £12bn from borrowing outperformance in his first Budget March 5, 2017 Budget-day forecasts from the independent Office for Budget Responsibility (OBR) are expected to give chancellor Philip Hammond a boost in his efforts to hit his new fiscal targets. Borrowing could undershoot previous targets by as much as £12bn during the 2016-17 tax year, according to the OBR’s analysis of government borrowing figures up to January. [...]
This chart shows what’s changed since since the Bank of England began its quantitative easing programme in 2009 March 4, 2017 Tomorrow is the eighth anniversary of the Bank of England (BoE)'s quantitative easing (QE) programme and of interest rates being cut to the "emergency" level of 0.5 per cent. It also happens to be the deadline for written submission to the treasury select committee's enquiry into the effectiveness and impact of the post-2008 monetary policy. Laith Khalaf, senior [...]
Growth in the US service sector hit a five-month low in February March 3, 2017 US services experienced a slowdown in February, as growth dipped to a five-month low with companies becoming more cautious about spending and hiring. IHS Markit's US services purchasing managers' index (PMI) fell to 53.8, but the indicator still signals healthy expansion of output in the world's largest economy – any figure below 50 denotes contraction. The [...]
Bitcoin is now worth more than gold as the US dollar strengthens March 3, 2017 The price of bitcoin has overtaken gold today for the first time ever. The cryptocurrency was up to $1,275.15 this morning, while the price of gold dropped 0.35 per cent to $1,228.60 per ounce. Bitcoin has already had a tumultuous year as fears the Chinese government was moving to outlaw it dampened investor interest. But now the currency's price [...]
The number of workers on zero-hours contracts hits new high of 910,000 – but the rise is slowing March 3, 2017 The number of people on controversial zero-hours contracts (ZHCs) has reached a record high of 910,000. According to the think tank the Resolution Foundation, which analysed data from the Office of National Statistics (ONS), a further 110,000 people were added onto these contracts in 2016; nearly 14 per cent more than 2015 and 30 per cent higher [...]
Timid centrist Emmanuel Macron is unlikely to fix a failing France March 3, 2017 Napoleon is said to have preferred lucky generals to clever ones. If true, Emmanuel Macron, the centrist candidate in this year’s French presidential election, would have found an eminent position in the great man’s army. For what else could have propelled this political ingenue who has never held elected office, who lacks a party hinterland, and [...]
Experts aren’t the problem: The problem is conceited experts March 3, 2017 Famously, Michael Gove attacked experts in the EU referendum campaign. And, of course, the experts have fought back, leading Gove to add appropriate context to his remarks. Nobody wants brain surgery from a non-expert. At the same time, there is a paradox. On the one hand, we should use reason to try to improve the [...]
British private sector growth picks up as the UK consumer’s strong form continues March 3, 2017 Private sector growth picked up in February as services geared towards consumers continued to impress, according to a survey of British companies. The balance of firms from across the UK economy reporting growth increased from 10 per cent to 15 per cent positive in the three months to February, according to the Confederation of British [...]