UK front of the queue for US foreign direct investment August 12, 2016 British investment into the United States underpins more than one million jobs on the other side of the Atlantic, research has shown, highlighting the importance of the economic special relationship. Business group the CBI said the UK has retained its position as the single largest investor into the US, accounting for $449bn (£346bn) – or 15 per cent [...]
FTSE 100 soars to 14-month high as pound falls further against the euro August 11, 2016 The FTSE 100 soared to above 6,900 for the first time this year on Thursday. At 6,914.71, the bluechip index closed up 0.7 per cent, its highest level in more than 14 months. Read more: FTSE 100 charges towards 14-month high as miners gains The market had been lingering at less than 6,850 earlier in the [...]
Opinion: Law firm TLT outlines the challenges facing Sadiq Khan if he wants to keep his housing promises August 11, 2016 Targets have a way of tripping politicians up and Sadiq Khan may regret some of the ones he proposed in the run up to the election to help ease the housing problem in London. His campaign pledge to set a goal of 50 per cent affordable homes in any new development now seems better politics [...]
Deliveroo defends new “flexible” pay conditions as protesters descend on HQ August 11, 2016 Deliveroo has defended its new pay conditions, describing them as "flexible", amid protests at its London headquarters. The delivery service said the action is over new pay conditions set to be trialled next week. Read more: Deliveroo just raised $275m to fend off Uber Instead of being paid an hourly rate of £7, plus £1 per [...]
Bank of England assertions on pension scheme deficits to be “tested” August 11, 2016 Experts reacted to the contention from the Bank of England that lower yields had a “relatively limited” effect on pension scheme deficits. The minutes of the MPC played down the impact of ballooning pension deficits – despite the trend continuing as yields fell after last week’s interest rate cut. “Lower yields posed potential risks to some aspects of the functioning [...]
Property Entrepreneurs: Meet the engineer behind Basestone whose innovative software idea is saving the construction industry time August 11, 2016 No one likes having their time wasted. And it was precisely that issue that led Alex Siljanovski to come up with the idea of Basestone, a collaborative tablet and web-based tool that is making building sites across the capital more efficient, from a single home extension to the new Crossrail stations. Basestone puts all the [...]
Holiday Homes: Austria is on the up as Brits look to buy second homes that will maintain yields all year round August 11, 2016 If you need to get away from all the Brexit chatter, I know the perfect place to get some much-needed perspective. Over in the Austrian Alps, those dark clouds that dog us in the UK are lined with silver. Figures released from the Austrian National Tourist Office (ANTO) this year have shown that the country’s [...]
Banks scramble to get rid of €100bn in junk loans August 11, 2016 European banks either sold or begun working on deals to dump more than €100bn of bad loans in the first half of the year. Research from Deloitte found EU lenders sold a total of €44bn in non-performing loans in the six months to end of June, with another €68bn of offloads in the pipeline. The [...]
Macy’s to shutter 15 per cent of US stores as it looks to grow online August 11, 2016 US department store chain Macy’s is to shut around 100 stores – some 15 per cent of its total – as it battles falling foot traffic. The stores slated to be closed represent around four per cent of its declining revenue. Macy’s shares climbed on the news, ending the session up in New York, though are down [...]