Jump in Eurozone industrial production boosts economic growth outlook December 14, 2015 Industrial production in the Eurozone rebounded in October after two months of decline, according to new figures released this morning. Output from Eurozone factories, quarries and mines, jumped 0.6 per cent in October compared with September. On the year, industrial production across the currency bloc was up 1.9 per cent. The figures, published by Eurostat, the statistical office of [...]
Commodities rout, competition issues and zero-hours contracts: Here’s Santa Plc’s annual report December 14, 2015 Last year City A.M. reported that after the financial crisis Santa Claus was in line for his merriest Christmas in years. But things are looking decidedly less festive in 2015. At the top of his naughty list this year? Governments, we suspect, who have not only created controversy over the zero-hours contracts he (probably) uses to [...]
The definitive guide to where you can afford to buy a home: Unless you earn £42,645 forget about living in London December 14, 2015 Where in the UK can you afford a house? If you're a first-time buyer, the answer is "very few places". If you earn under £42,645 per year, you’re going to struggle to find anywhere in the capital. Use the tool below on desktop to find out where you can afford to buy, based on the interest rate on [...]
London grandchildren more dependent on grandparents than anywhere else in the UK – with most of capital’s over-55s still providing support to adult children December 14, 2015 Bank of mum and dad has become bank of mum's mum and dad for many Londoners, as research from peer-to-peer lending service Zopa has discovered that those in the capital rely more on grandparents for financial and childcare support than elsewhere in the UK. More than three-quarters (77 per cent) of grandparents in London are [...]
The government’s buy-to-let stamp duty increase will cost landlords the equivalent of 11 months’ rental income December 14, 2015 George Osborne's hike of stamp duty on buy-to-let properties could cost landlords the equivalent of 11 months' income, new research has suggested. The Countrywide Lettings Index suggested that the three per cent rate will mean a 0.2 per cent drop in yields – the equivalent of 11 months' income, when you take into account borrowing costs. Those [...]
Over 7m workers will resolve to find a new job in the new year, and 54 per cent will make a career-related promise December 14, 2015 Employers be warned: a large chunk of your staff might be using New Year's Day not to nurse a hangover, but to polish their CV. Research published today by CV-Library has estimated 7.7m workers will resolve to leave their job in 2016. That's just shy of a quarter of the 31.2m people in work, according to Office [...]
Greene King boss Rooney Anand joins Morrisons’ board December 14, 2015 The chief executive of Greene King, Rooney Anand, has been appointed as non-executive director and senior independent director of the supermarket Morrisons. Anand, whose career includes stints at United Biscuits and Sara Lee, before joining Greene King as managing director in 2001, will join the board from 1 January. His appointment is one of several key hires [...]
AB InBev to list on Johannesburg Stock Exchange as mega-brew deal with SabMiller nears completion December 14, 2015 Belgian-based brewer Anheuser-Busch InBev has received the green light to list on the Johannesburg Stock Exchange ahead of its merger with SabMiller. The firm said the move demonstrated its "commitment" to South Africa and the continent as a whole "which will be a critical driver of future growth for the company" after the merger. Once listed, AB InBev's ordinary [...]
HSBC and Citibank are struggling to meet new regulations on banks based outside of the European Economic Area December 14, 2015 High street banks in the UK that are based outside of the European Economic Area are rushing to comply with new regulations that could leave senior bankers based abroad to be held accountable for failings in branches. From March 2016 managers at banks such as Citibank based in the US could be made to be [...]
Getting onto the housing ladder is £2,300 a year cheaper than renting, says Santander December 14, 2015 First-time buyers could save £2,300 a year by getting on the property ladder compared to renting, according to research by Santander Mortgages. The average monthly rent in the UK is currently £995 compared to monthly repayments of £805 for the average first-time buyer household, meaning buyers could save £190 a month, the lender said. In [...]