Employment rises to highest since 1971 – but UK wage growth continued to be subdued in December February 17, 2016 Some 74.1 per cent of the UK population were in employment between October and December 2015 – the highest since records began, the Office for National Statistics (ONS) has said. The figures, published this morning, showed there were 31.42m people in work during the period, over half a million more than the same time in 2014. But [...]
Brent crude and WTI: Oil prices waver as Iran casts doubt on production freeze deal February 17, 2016 Oil prices wavered this morning, dipping in and out of the red, as speculation swirled around oil markets over the consequences of a deal between Saudi Arabia and Russia to freeze output at January levels. Brent crude, the global benchmark, reversed earlier losses, rising 1.12 per cent to $32.54 per barrel. Meanwhile, West Texas Intermediate (WTI) crude, [...]
Auto Trader share price hits the gas as it hikes profit expectations February 17, 2016 It's been a bumpy ride in recent weeks on the test track that is the UK markets – but recently-listed Auto Trader isn't showing any signs of oversteer. In a trading update this morning, the company said it had performed well in the past four months, with a stronger-than-expected increase in average revenue per retailer forecourt. Because [...]
Panmure Gordon chairman Ed Warner to leave the stock broker and investment bank February 17, 2016 Panmure Gordon is going to lose its non-executive chairman after Ed Warner today served notice of his intention to step down at the company's annual general meeting in May. Warner is leaving to "concentrate on his other business interests" and a search for his replacement is already underway. "A further announcement will be made in due [...]
UK Oil & Gas says Gatwick Gusher on Horse Hill to become commercially viable earlier than expected February 17, 2016 The oil at Gatwick Gusher is continuing to flow strongly, prompting the company behind it to say it should become commercially viable "earlier than expected". Yesterday UK Oil & Gas said it had discovered "significant" amounts of "moveable oil" of good quality, and would begin further testing to establish if it could become a "sustainable [...]
Sports Direct boss Mike Ashley agrees to meet MPs for first time as he attempts to “set the record straight” over working conditions at Shirebrook February 17, 2016 Sports Direct boss Mike Ashley has agreed to meet MPs for the first time, in an attempt to head off ongoing criticism of his company's working practices. Ashley has invited politicians to the retailer's Shirebrook HQ in Derbyshire to "set the record straight", the Mirror reports. Shirebrook has been the focus of much ire in recent months, [...]
Bank chiefs warn of more pain to come as cost cutting expected to be ramped up February 17, 2016 Britain's bank bosses have warned that cost cutting measures will have to be ramped up as stunted revenues and low interest rates continue to take their toll on the sector. A survey of UK bank chiefs by PwC found that almost 70 per cent said they expect to implement a cost cutting scheme in the next [...]
Investor pessimism soars to three-year high as gold becomes second favourite asset class February 17, 2016 Investors are at their most pessimistic for nearly three years, according to survey data released today. Lloyds Bank Private Banking’s investor sentiment index dropped to a score of 2.98 per cent this month. The score is compiled from the views of nearly 5,000 adults including 1,123 investors. The index is at its lowest level since May [...]
Local governments demand more control over starter homes after warning they will be unaffordable February 17, 2016 Local governments have today warned Westminster that discounted starter homes will be unaffordable to the majority that need them unless the scheme is given more flexibility. First-time buyers will be able to buy 200,000 new starter homes over the next five years at a discount of at least 20 per cent to market value. Research by [...]
Colchester’s Tollgate Village: New shopping development in commuter hub faces fierce opposition from local retailers February 16, 2016 A proposed shopping development in a popular commuter hub is being met with disapproval by local retailers. Shopowners and other interested parties have petitioned Colchester Council ahead of a planning meeting on Thursday, where a vote on the proposed Tollgate Village retail park is due to take place. The retailers, who have gained backing from the Federation [...]