Moody’s says homeowners can cope with higher interest rates July 26, 2015 The majority of British homeowners could comfortably cope with a moderate rise in interest rates, Moody’s has said this morning. Only about one per cent of borrowers would be unable to cover mortgage payments and meet their living expenses if interest rates rose by one per cent from their historic low of 0.5 per cent, [...]
Bank of England intervention sparks debate over dividends after Andy Haldane says firms too focused on shareholders July 26, 2015 Surprising new suggestions from Bank of England chief economist Andy Haldane have opened up a debate over shareholder power. Haldane told the BBC on Friday that firms are “almost eating themselves” by focusing too much on returns for shareholders and not enough on long-term investment. “The profits that businesses are earning are being used not [...]
Fiat Chrysler faces record $105m penalty over Jeep safety issues July 26, 2015 Fiat Chrysler is set to face a record $105m (£68m) fine from the US government this week after allegedly failing to complete safety recalls covering millions of Jeep vehicles. The giant car maker is also expected to be put under the supervision of an independent monitor to oversee its safety actions as part of a [...]
Small business welcomes late payment tsar as Anna Soubry dubs disputes “unacceptable” July 26, 2015 Business groups have come out in support of the latest government proposals for a new small business tsar tasked with addressing payment disputes. The department of business, innovation and skills said yesterday that a new, yet to-be-named small business commissioner would tackle unfair practices by leading a “culture change in how small businesses resolve disputes [...]
London sets the pace on exports for UK regions July 26, 2015 London and the south east account for more than a quarter of all British manufactured exports, a study out today shows, making it the biggest export market in the country. The report, from EEF, says 25.4 per cent of total UK factory exports come from the area, with 47 per cent of those going to [...]
UK’s aerospace firms face threat from high production demands July 26, 2015 The UK’S aerospace professionals fear that higher production rates pose a threat to the industry and to the country’s position as a global superpower within the market. More than 62 per cent of UK aerospace engineers believe that their companies face productivity issues resulting from an increasingly demanding and global aerospace market, according to research [...]
Directors support government plans for devolution to regions July 26, 2015 Most business leaders are backing the government’s plans to devolve powers to cities and regions, according to a new survey out today. Two-thirds of business leaders polled by the Institute of Directors (IoD) said they supported chancellor George Osborne’s plans for devolution, while more than 75 per cent said they specifically backed devolving powers over [...]
Middle Eastern firm VPS Healthcare makes UK foray with promise to create 2,000 jobs and reopen Royal Masonic Hospital July 26, 2015 A Middle Eastern healthcare giant is making its first foray into the UK after pledging to reopen the Royal Masonic Hospital in Hammersmith as a new cancer centre, creating 2,000 jobs. VPS Healthcare was founded by Indian doctor and entrepreneur Dr Shamsheer Vayalil, who opened his first hospital in Abu Dhabi in 2007. The group [...]
Professional job sector boom is led by finance and engineering July 26, 2015 The finance industry is leading the way in a professional sector jobs boom, new figures show today. Professional recruitment firms now have 12 per cent more vacancies on their books than this time last year, according to survey data from the Association of Professional Staffing Companies (Apsco). The number of permanent jobs available rose the [...]
British consumers becoming more upbeat on their finances July 26, 2015 UK shoppers felt more confident about their finances in June, according to a survey by a major British bank. Lloyds Bank’s spending power index climbed to a record high of 164 points from 160 in May, it said this morning. The survey has been running since 2011. People were more confident about their personal financial [...]