Billions wiped from the value of the oil and gas industry February 15, 2016 The oil and gas industry has splurged £10bn over the past 12 months in an attempt to protect dividends, according to new research from trading house Banc De Binary. The value of cash and assets held by oil and gas companies listed on the London Stock Exchange has plummeted from £151.8bn this time last year [...]
UK Steel crisis: Industry in showdown with European ministers as top bosses march in demonstration February 15, 2016 The European steel industry and governmental ministers are set for a showdown later today over how best to implement higher tariffs on foreign steel imports. Industry leaders are demanding that more is done to help Europe's steel sector survive, while European ministers claim removing the so-called lesser duty rule, which seeks to apply the lowest possible [...]
We’re staying: HSBC decides to keep its headquarters in London, UK, after an “exhaustive” review process that narrowed it down to the capital and Hong Kong February 15, 2016 Global banking giant HSBC revealed late last night that it has decided to keep its headquarters in London, ending months of uncertainty over whether it would quit the UK and move to a rival financial centre. A statement from the bank called the UK an “important and globally connected economy”, with “an internationally respected regulatory framework [...]
What are your chances of a payrise? Pay growth expectations fall to their lowest point for more than two years thanks to rocketing costs of employing staff, including minimum wage rises February 15, 2016 Businesses believe wages will rise at the lowest rate for more than two years as rising costs of employing staff place pressure on pay packets, according to a report out today. The study by the Chartered Institute of Personnel and Development (CIPD) discovered that companies expect pay for their employees to rise by an average [...]
Let the good times roll: EY Item Club forecasts strong growth for UK financial services February 15, 2016 The financial services industry can expect decent growth over the next few years, a group of forecasters have said today. Mortgage lending, business borrowing and consumer credit are all set to grow at healthy rates over the coming years, as the UK economy shrugs off recent severe stock market declines. However, the EY Item Club said [...]
London house prices: Asking prices hit record high as concerns grow over help to buy eligibilty February 15, 2016 London asking prices reached a new record high in February, property website Rightmove said this morning. Rising prices are making buying a new home difficult for many Londoners even when using the government’s help to buy scheme. Prices in Greater London climbed 5.4 per cent over the course of last month and are 10.5 per cent higher than [...]
CEBR: Stock market rout is not a sign of impending downturn February 15, 2016 This year’s stock market rout is not a sign of impending doom for the world economy, an economics consultancy has said today. Global GDP should grow by 2.6 per cent this year, the same rate as in 2015, according to the Centre for Economics and Business Research (CEBR). China is slowing, not collapsing, the CEBR [...]
Retail footfall bounces back in January to reach two-year high February 15, 2016 Retailers enjoyed their biggest jump in footfall last month in almost two years after disappointing Christmas when shoppers shunned the high street in favour of buying online. Traffic to stores on the high street, shopping centres and retail parks rose by 1.2 per cent in January compared with a year ago, figures from retail analysts Springboard [...]
Here’s why mums go to Iceland: Supermarket beats Tesco, Asda and Morrisons to be named the best online retailer in consumer survey, and boss Malcolm Walker is clearly pleased February 15, 2016 Iceland, favourite of mothers across the nation and anybody else looking for decently priced party snacks they can stock in their freezer, has been voted the UK's best online supermarket. The league table released today by Which? gives Iceland an impressive overall customer satisfaction score of 77 per cent, ranking it above Waitrose, Ocado and [...]
China ramps up patent activity as Europe and the UK fall behind – IAM February 15, 2016 China has cemented its position as the world’s most prolific patent-filer after lodging 928,000 applications in 2014, stoking fears of Chinese patent-holders launching high profile court cases. Patent applications grew by 12 per cent in China between 2013-14 as state-backed financial incentives and higher spending on research saw firms flocking to seek legal protection for their [...]