Gold bullion is soaring as the US dollar weakens – could the dollar’s best days be behind us? March 8, 2016 Many would agree that strong monetary expansions often lead to weak paper currencies, but the evidence is mixed. The reason may be because money supply is usually treated as a generic concept, from base money, notes and coin, gold and other commodity monies. To really understand modern financial systems, we must acknowledge that they are [...]
More borrowers opt for fixed rate deals as mortgage rates hit record low March 8, 2016 Mortgage rates have dropped to the cheapest on record, according to figures released by the Bank of England this morning. The overall interest rate on new mortgage lending in the final three months of 2015 fell to 2.71 per cent, the lowest since the series began in 2007. The interest lenders are making on the total stock [...]
Equiniti Group share price up as company announces an increase in revenue in its first set of full-year results since IPO last October March 8, 2016 Share price in Equiniti Group rose this morning as the company announced a boost to its revenues in its first set of full-year results since its float last October. Revenue at the company grew to £369m for the year ended December 2015, up 26.2 per cent from £292.3m the year before. Loss before tax at the company, [...]
UK wages and jobs: REC warns UK jobs market faces “serious threats” March 8, 2016 A leading recruitment organisation today warned that the UK jobs market will face a cocktail of "serious threats" in the coming months. It comes as the Recruitment & Employment Confederation's (REC) monthly report showed permanent jobs and accompanying starting salaries grew at the quickest pace in three months in February. Meanwhile, demand for permanent staff saw its sharpest increase [...]
Bad news: Bonuses on Wall Street have fallen as companies were hit by compliance costs March 8, 2016 If you're in securities, look away now. A new report has shown the average bonus paid on Wall Street has fallen nine per cent to $146,200 (£102,565) as finance firms' revenues were hit by extra compliance costs. The figure, by the Office of the New York State Comptroller, Thomas DiNapoli, showed profits at New York City's securities [...]
FYI: WPP wants you to know this about February’s revenue and sales growth March 8, 2016 Just days after warning that geopolitical conditions should make advertisers wary of "Don Draperish" optimism and handing in a solid rise in revenue and profits for 2015 in its latest results, WPP has another update. Due to popular demand from "a number of investors and analysts" apparently, the unexpected update details February's performance. "For the month [...]
FTSE 100 opens lower as miners’ share prices including Anglo American, Glencore and BHP Billiton fall after weak Chinese trade data March 8, 2016 The FTSE 100 index opened down this morning, following Asian markets lower after Chinese trade data declined by more than expected. The UK's blue-chip index fell 0.71 per cent to 6,136 points in early morning trading. "This morning’s latest Chinese trade numbers for February speak to that concern about the Chinese economy as imports declined 13.8 [...]
Paddy Power entered merger with Betfair with “strong trading momentum” as it reports solid 2015 results March 8, 2016 Paddy Power has reported strong results for 2015, leading it chief executive to state it and Betfair entered the merger with "strong trading momentum". The figures Paddy Power reported revenue up 24 per cent to €1.1bn (£850m) in 2015. The bookmaker also reported operating profit of €180m, a 10 per cent rise. Operating profit was reported 50 [...]
Staff appointments continued to rise at a steady pace last month, with permanent placements rising at their quickest pace for three months, but uncertain times up ahead for recruiters March 8, 2016 The UK's job market looked strong last month, with permanent placements increasing at their fastest rate for three months, a report released today has found. According to the Report on Jobs by Markit and the Recruitment and Employment Confederation (REC), just less than half (44.8 per cent) of the 400 recruitment and employment consultancies questioned said they had [...]
Job growth in London storms ahead of UK average, but introduction of National Living Wage could see employers in sectors with lower wages relying on younger workers or cutting jobs March 8, 2016 Demand for jobs across the UK is at the strongest it has been in years, with London racing out in front, according to a report out today. The study by ManpowerGroup pegged the net employment outlook – the proportion of employers who plan to hire staff less the proportion who plan to reduce their workforce – for the [...]