Young Workers Index: German-style training could boost UK GDP October 20, 2015 If the UK could bring down the number of young people not in work or education to German levels, the economy would be boosted by around £55bn, according to PwC’s Young Workers Index. The index measures the labour market impact of workers aged between 20 and 24 across Organisation for Economic Co-operation and Development (OECD) [...]
George Osborne faces more tax credit pressure October 20, 2015 Pressure is building on chancellor George Osborne to reconsider his plans to slash tax credits, with Labour and Conservative MPs alike attacking the proposals ahead of an expected “fatal motion” in the House of Lords. MPs debated the tax credit cuts in the House of Commons yesterday, with new Tory MP Heidi Allen drawing attention [...]
IBM ‘s share price is getting walloped October 20, 2015 IBM shares have plummeted to a five-year low after the company released disappointing results yesterday. The shares fell 5.35 per cent to $141.26 after markets reopened. IBM’s results showed that its up and coming cloud computing business was not yet making up the ground lost by its more traditional areas as it posted a 14th [...]
Revival in business financing justifies UK interest rate hike, says Bank of England’s Ian McCafferty October 20, 2015 Solitary Bank of England dissenter Ian McCafferty has said a recovery in lending justifies an interest rate hike coming sooner rather later, especially if rates are to go up only gradually in future. McCaffery who was the only member of the Bank’s nine-strong monetary policy committee to vote for a hike at the beginning of [...]
Shares fall as McColl’s looks to sell 100 newsagents October 20, 2015 McColl’s has put 100 newsagents on the block as it focuses on opening more lucrative convenience stores instead. The FTSE 250 retailer, which listed last year, has been steadily converting its newsagents into food and wine outlets at it looks to advantage of the fast-growing convenience sector and lure in higher-spending shoppers. The company said [...]
AstraZeneca ramps up business in Russia with new £145m drugs factory October 20, 2015 AstraZeneca opened a $224m (£145m) drugs factory near Moscow today, strengthening its long-term commitment to building business in Russia. The British pharmaceutical firm will use the facility to manufacture and package medicines, allowing it to domestically manufacture over 60 per cent of the drugs it sells In Russia. In an attempt to encourage local industry, [...]
Inmarsat signs 10 year deal with Lufthansa to provide in-flight wifi October 20, 2015 Inmarsat, London's very own rocket-launching satellite communications company, has signed a 10 year deal with Lufthansa, Europe's largest airline, to provide high-speed internet across all its European airline fleet. Under the agreement, Inmarsat will connect more than 150 Lufthansa aeroplanes to its Global Xpress (GX) satellite network, the first of which should be ready to [...]
Mark Carney says Bank of England’s EU referendum input will be “a bit of a yawner” October 20, 2015 Bank of England governor Mark Carney has played down the Bank’s analysis of a UK exit from the EU, telling an influential group of MPs it would be "a bit of a yawner". The Bank is due to publish its findings tomorrow after investigating the potential impact leaving the EU would have on its ability to steer the [...]
Waitrose boss Mark Price to step down amid rumours of Channel 4 job October 20, 2015 Waitrose’s managing director Mark Price is stepping down from his role at the upmarket supermarket chain amid rumours he is being lined up for the top job at Channel 4. The ebullient 55 year-old, who gave himself the nickname the “chubby grocer”, will leave in April next year after 33 years at the John Lewis [...]
Healthcare M&A heats up: More tie-ups in the pipeline for London-listed Al Noor October 20, 2015 London-listed Al Noor can't get a minute's rest. Just a week after agreeing to a £1.4bn merger with South African company Mediclinic, it has received interest from yet another rival healthcare company. In an announcement today, it revealed that VPS, a privately-held healthcare provider with a network of hospitals in the UAE, has shown preliminary [...]