UK consumers are set for a big hit as inflation spikes this year February 1, 2017 Inflation is set to spike this year with the hit to consumer spending denting UK growth, according to an influential group of economists. Annual growth in the consumer price index will average 3.3 per cent in 2017, according to the National Institute of Economic and Social Research (Niesr), before slowing to 2.9 per cent next [...]
HMRC lays out plans to scrap yearly tax return and replace it with continuous online reporting January 31, 2017 The annual tax return will be a thing of the past by 2020, according to HMRC – potentially saving the taxman over £8bn per year. Under the government's proposals – part of its Making Tax Digital project – taxpayers will keep the Revenue updated online on a continuous basis, rather than filing a yearly return. [...]
A startup sprouting up across London could be getting a massive investment from Softbank January 31, 2017 A startup that seems to be on almost every corner in the centre of London these days could be about to land a major investment from Softbank's massive $100bn tech fund, according to reports. WeWork, a co-working space which already has 12 locations in the capital, could be the first investment made by the Japanese firm's new Vision Fund, [...]
Trump effect? Warren Buffett has bought $12bn worth of stock since the US election January 31, 2017 Legendary investor Warren Buffett aka the sage of Omaha has added $12bn (£9.6bn) worth of stock to Berkshire Hathaway since the US election in November. “We’ve, net, bought $12bn of common stocks since the election,” Buffett said in an interview. US stocks boomed after Donald Trump was elected US President in November as investors and analysts hoped [...]
China, Mexico, Japan: Who’s afraid of Trump’s protectionism? January 31, 2017 Anyone hoping that Donald Trump’s campaign promises were just talk can’t have been encouraged by this weekend’s events. Stock markets fell and the dollar was volatile yesterday on the news that the President had signed an executive order banning the entry of people from seven countries. Assumptions that he would row back from his more protectionist [...]
With fresh IMF warnings over Greece’s “unsustainable” debt, is the Eurozone crisis about to heat up again? January 31, 2017 Jennifer McKeown, chief European economist at Capital Economics, says Yes. The IMF’s renewed assertion that Greek public debt is unsustainable is little more than a statement of the obvious. But it suggests that the Fund will not contribute to the bailout as had been hoped, implying that Eurozone creditors will need to foot the bill [...]
New in-depth study finds apprenticeship levy is little more than a stealth tax and could distort training schemes January 31, 2017 The apprenticeship levy, a flagship government scheme intended to boost the training of young people, has been slammed as little more than a stealth tax following a damning new report by the Institute for Fiscal Studies (IFS) which found it represents “poor value for money”. The levy will apply to all businesses with a payroll [...]
Consumer confidence climbed this month, but signs point to slowing spending in 2017 January 30, 2017 Overall consumer confidence edged up this month, but Britons showed they have less faith in making major purchases, signalling a spending slowdown in the year ahead, a new report suggests. GfK's consumer confidence index, published today, climbed two points to minus five in January. Three of the five measures experienced increases this month, one was unchanged and one decreased. It was the [...]
Cheeky IPO? Nando’s is considering a float January 30, 2017 Nando's, the South African restaurant chain famous for its spicy peri-peri chicken, is reportedly considering a cheeky initial public offering (IPO). Sources told Bloomberg Nando's is in the process of speaking to advisers and planning a share sale. Among its options, the Johannesburg-based company is mulling a London listing, the unnamed sources said. In a statement, a spokesperson [...]
Airline shares are falling thanks to the Trump travel ban January 30, 2017 Airline shares were among some of the worst-hit stocks on both sides of the pond today, as Donald Trump's travel ban to citizens of seven countries in the Middle East and North Africa began to sink in. In the UK, International Airlines Group (IAG), which owns British Airways, Aer Lingus, Iberia and Vueling, fell almost [...]