Bank of England policymaker Kristin Forbes warns against keeping interest rates low for too long August 17, 2015 Bank of England policymaker Kristin Forbes has warned keeping interest rates low for too long risks undermining Britain's economic recovery. Earlier this month, when the monetary policy broke unanimity and voted 8-1 to hold rates, Forbes chose to stick with the majority. The US economist and external member of the monetary policy committee (MPC) said there [...]
Britain gets into shape as spending on gyms soars August 17, 2015 Britain's obsession with fitness has showed no signs of slowing over the past year as spending on gym memberships soared 44 per cent. Budget fitness chains such as Pure Gym and the Gym Group have helped to shake-up the sector over the last five years by offering cheap memberships, scrapping contracts and catering to people [...]
Eurozone trade surplus hits six-month high amid weak euro August 17, 2015 The Eurozone's trade surplus soared to a six-month high in June, as growth in exports outpaced imports. The euro area's official statistics agency said it hit €26.4bn (£18.7bn) during the month, up from €16bn a year earlier. Exports from the single currency area to the rest of the world rose 12 per cent to €182.7bn in the [...]
Four things we know about Quindell’s new chief executive Indro Mukerjee August 17, 2015 Quindell today announced the appointment of new chief exec Indro Mukerjee, two months after the departure of Robert Fielding. Mukerjee, who takes the helm on 7 September, said he plans to focus on improving its offering to customers, as well as boosting shareholder value. Here are four things we know about the insurance outsourcer's new boss. He was [...]
FTSE chief executive pay: How long would it take you to earn as much as these top 10 highest earners? August 17, 2015 The pay packets of the FTSE 100's top bosses has fallen in real terms, with chief executives taking home around £80,000 less than previous years, adjusting for inflation. You probably won't see any of them cutting back, though. That's a drop in the ocean of their annual income from salaries, bonuses, share awards and other remuneration, which [...]
Quindell share price edges up as it appoints Indro Mukerjee as chief executive August 17, 2015 Shares in embattled insurance outsourcer Quindell rose 2.15 per cent after it announced it had appointed a new chief executive, two months after the departure of Robert Fielding. Read more: Four things we know about Quindell's new chief exec Indro Mukerjee will start his job on 7 September. His appointment came as the company's business and [...]
Government hires Lazard and Savills as multi-million pound sale of 36.5 per cent stake in King’s Cross Central kicks off August 17, 2015 The government has kicked off the sale of its 67-acre site around London's King's Cross station. Investment group Lazard and high end estate agent Savills are handling the deal. Interested parties have been urged to contact Lazard by 7 September. The decision to sell the government’s 36.5 per cent stake in King’s Cross [...]
This could spell the end of fixed rate mortgages August 17, 2015 Legislation being shaped by the European Union could make it too expensive for building societies and small banks to offer fixed rate mortgages. If they stopped making these kinds of loans it would vastly reduce the number of fixed-rate mortgages available, according to a report in The Times. Nevertheless bigger banks will still be able to make them [...]
Surprise drop in top dog pay: Report shows FTSE chiefs taking home less cash in real terms August 16, 2015 Average pay packages for FTSE 100 chief execs fell in real terms over the course of the most recently-recorded year, according to a new report out today. Bosses at British blue chip firms took home an average of £4.96m in 2014, compared with £4.92m in 2013, according to the High Pay Centre think tank. Adjusting [...]
Network Rail is poised for £1bn sale of properties including Vinopolis site and Brixton arches August 16, 2015 Network Rail has taken the first step towards selling off its £1bn commercial property portfolio after hiring bankers to conduct a review of its estate. The government-backed organisation, which runs all of Britain’s rail infrastructure, confirmed that it is working with boutique investment bank Rothschild to explore ways in which it can “make more [...]