Bank of mum and dad facing a funding crisis as children rack up £6,000 in withdrawals May 18, 2016 Parents are dipping into savings, eating up their pay packets and even taking out credit cards to provide assistance to their supposedly financially independent children. Over half of all parents have been tapped up by children over the age of 18 for financial assistance from the “bank of mum and dad”, according to a new [...]
Bacanora Minerals boss: 2020 will be a “magic” year for lithium May 17, 2016 The boss of one of the world's biggest lithium mines has singled out 2020 as a "magical" year for the so-called "white petroleum". Lithium forms a small but essentially irreplaceable component of rechargeable batteries. It's currently used in small-scale devices such as mobile phones, but could eventually revolutionise the car industry, as well as how we use the [...]
Legal expert warns UK’s North Sea industry risks suffering a “brain drain” May 17, 2016 A legal expert warned employment law has left the UK's already embattled North Sea oil and gas sector at risk of a "brain drain". Katie Williams, employment specialist and partner at Pinsent Masons, blamed the widespread use of contracts which stop individuals joining a potential competitor for anything up to 12 months after leaving a job. [...]
Checking out: Are the Burberry short-sellers short-sighted? May 17, 2016 Investors are not feeling too hot about trenchcoat-maker Burberry today, with its stock among the most heavily shorted ahead of eagerly anticipated results out tomorrow morning. According to financial data providers, Markit, around seven per cent of the company's shares were out on loan to those hoping to cash in from a short-term fall in [...]
US inflation jumps to three-year high as gas prices soar May 17, 2016 Prices in the United States jumped by their highest amount in more than three years during April, as inflation hit 0.4 per cent, putting more steam behind the chances of further interest rate rises this year. The consumer prices index moved up from 0.1 per cent in March, as energy prices increased considerably during the [...]
Fitness of European IPO market boosted by recent activity flurry May 17, 2016 A Dutch fitness chain has become the latest company to announce plans for a flotation amid a recent flurry of European activity. Basic-Fit operates 351 clubs across Europe and has more than one million members. Read more: IPOh yeah! Signs of life in London's flotation market The company, which operates across the Netherlands, Belgium, Luxembourg, [...]
Inflation rate falls to 0.3 per cent in April due to cheaper clothes and air fares May 17, 2016 Inflation was running at 0.3 per cent in April, figures out this morning from the Office for National Statistics (ONS) have shown, denting the trend of slow-and-steady price rises since the start of the year. The headline consumer prices index (CPI) rate fell back from 0.5 per cent in March and is now in line with figures [...]
The five job sectors feeling the biggest Brexit squeeze May 17, 2016 Bad news for the City, especially if you work in human resources – new figures indicate that the Brexit spectre and general economic woes are among the causes of a fall in job vacancies in these areas. Vacancies in HR fell 18 per cent in April on a monthly basis, the biggest decline of any of [...]
Land Securities warns Brexit could be “painful for the property industry” as it reports pre-tax profits plunge May 17, 2016 Land Securities’ pre-tax profits almost halved in the year to 31 March amid “uncertainty in the lead up to the EU referendum”. It said a Brexit could be “painful for the property industry and those it supports” but stated that it could “thrive” no matter what the outcome. The figures In the year to 31 March, Land [...]
Job vacancies fall in April due to National Living Wage May 17, 2016 UK companies are hiring less staff due to the National Living Wage, a new report has concluded. The higher minimum wage was introduced on 1 April and means workers aged 25 and above must be paid at least £7.20 an hour, which equates to a pay rise for 1.3 million workers this year, according to [...]