UK employers are plagued by an “absenteeism crisis” costing the British economy £100bn a year May 30, 2016 The UK is suffering from an "absenteeism crisis" in the workplace, according to the on-demand hiring platform Catapult. Small- and medium-sized enterprises are most affected by employee absenteeism, Catapult has said, which includes both "genuine" and "non-genuine" absences taken off work. UK businesses are losing 6.9 days a year per employee due to the absenteeism trend, while nearly [...]
New economic data to underline UK’s struggle for growth this week May 30, 2016 The UK economy is still struggling for momentum, fresh data out this week is likely to confirm. Economists expect the bellwether purchasing managers’ indexes (PMIs) to remain glued at three-year lows as businesses and consumers remain cautious until after the EU referendum. Readings on all three measures – which cover the services, manufacturing and construction [...]
Setback for Greece as GDP shrinks faster than first thought in first quarter May 30, 2016 The Greek economy contracted by a shaper amount that previously thought in the first three months of the year, in a reality-check for the troubled nation following a string of upbeat developments. Economic output in Greece fell by 0.5 per cent between January and March – sharper than the 0.4 per cent contraction previously pencilled in. [...]
Cameron and Khan team up to launch Remain “guarantee card” May 30, 2016 Prime Minister David Cameron and London mayor Sadiq Khan will today unveil a new list of five guarantees offered by a vote to Remain in the EU. Volunteers will distribute the list as a “guarantee card” as the EU referendum campaign reaches its final weeks. The guarantee card reads: “Vote Remain on June 23rd, and [...]
Economic sentiment reaches four-month high in fragile Eurozone May 30, 2016 Confidence across the Eurozone jumped in May as strong consumer spending and a financial services sector on the mend helped repair a fragile feel-good factor across the single currency bloc. The official European monitor of confidence – the Economic Sentiment Indicator (ESI) – came in at 104.7 for the Eurozone on an index where 100 marks the [...]
The most expensive (and cheapest) seaside towns to live in Britain May 30, 2016 The priciest coastal pads are overwhelmingly located in the south west of the country, while anyone looking for a more affordable seaside town to call home should head north of the border. Sandbanks in Poole, Dorset is home to several million pound homes and the average property in the area comes in at £665,000, more than any other seaside [...]
At the close: Bank holiday starts early for the London markets on flat day in the City May 27, 2016 Friday's are always slightly slower in the Square Mile. None more so than on a sunny afternoon on a bank holiday eve. The markets, characteristically, were static. The FTSE 100 closed down 0.1 per cent at 6,258.06, but volumes plummeted, with the number of shares swapping hands around half its usual level. The slow day [...]
A plague on both your houses: MPs attack EU referendum campaigns May 27, 2016 Both sides in the EU referendum campaign have faced the ire of one of Westminster's most feared MPs, head of the Treasury Select Committee (TSC) Andrew Tyrie, this afternoon. Tyrie, and the bipartisan TSC which includes campaigners on both sides of the debate, has attacked both sides for their shoddy use of statistics and blamed them [...]
FTSE 100 heads for biggest weekly gain in six weeks May 27, 2016 Britain's FTSE 100 was on course for its biggest weekly gain in six weeks today. The commodity heavy blue-chip index was up 1.7 per cent on the week, after oil prices touched $50 per barrel yesterday, and bank shares also made gains. It was down 0.1 per cent to 6,260.3 points in late afternoon trading. The [...]
Growth revised up as US heads towards rate hike May 27, 2016 The US economy grew a little faster than first thought in the first three months of the year, though expansion was still sluggish at just 0.8 per cent on an annual rate. First estimates earlier this month suggested the economy grew by an even more miserly 0.5 per cent, but the upward revision should provide [...]