From the gender pay gap to the minimum wage, the politicisation of pay threatens the UK’s business-friendly reputation August 19, 2016 Economic logic suggests that free determination of employment contracts, like free trade, normally benefits both parties and leads to high levels of employment and economic growth. But this view has never been popular. Fifty years ago, it was the accepted belief that governments should determine pay increases, leading to the dead end of incomes policies [...]
Struggling clothing retailer Gap delivers muted full-year outlook August 18, 2016 Struggling clothing retailer Gap lowered its full-year earnings forecasts as it failed to entice more customers into its shops. The California-based company now expects adjusted earnings per share of $1.87-$1.92 for this year, down from its previous guidance of $2.20 to $2.25. Read more: Gap to close 75 Old Navy and Banana Republic stores globally It came as the [...]
Brands set to benefit from Bake Off’s return August 18, 2016 The Great British Bake Off hits UK screens next week and baking brands are set to cash in on its soaring popularity. Sales of baking products during last year’s Bake Off – which pits 12 contestants against each other to create the best cakes, puddings, and pastries – increased by 214 per cent compared to [...]
US Fed logs on to Facebook to boost visibility August 18, 2016 The US Federal Reserve has created a Facebook page, adding to its existing Twitter, YouTube, Flickr and LinkedIn pages. The Fed, often criticised for its communication methods, said in a statement it aims to “increase the accessibility and availability” of its “news and educational content” using Facebook’s likes, comments and shares. But will the opportunity to [...]
One of Labour’s largest donors wants to devalue sterling in a bid to stimulate growth in manufacturing August 18, 2016 Labour's largest individual donor is calling on the party to consider deliberate currency devaluation to drive manufacturing growth outside of the South East. John Mills, the millionaire founder of JML, has launched a new campaign group to push his proposals, which he also claims would help the party re-engage eurosceptic voters turned away by its pro-European messaging in [...]
Sharing economy firms must mobilise the public to fight regulation-hungry politicians August 18, 2016 An increasing number of politicians and commentators are starting to look at the sharing economy as an exploitative one. Once apparently loved by all, it is being portrayed as unregulated and unfair – undermining hard-working people, reducing crucial tax revenue and ignoring the concerns of ordinary people whenever it is necessary. The latest furore in the [...]
After retail sales rose strongly in July, did the Bank of England jump the gun by cutting interest rates? August 18, 2016 Tim Price, manager of the VT Price Value Portfolio, says Yes. Brexit hasn’t even happened yet, but Bank of England governor Mark Carney went out on such a limb on behalf of Project Fear that he had no alternative but to cut interest rates, irrespective of our economic condition and the already sharp decline in sterling. [...]
Gawker website to close after company’s sale to Univision August 18, 2016 US website Gawker.com is to close next week after Univision successfully bid for the company earlier this week. The closure, after nearly 14 years in operation, comes after the publication lost a court battle with wrestler Hulk Hogan. In May, Gawker Media was ordered to pay out $140m to Hogan. Read more: Gawker said to be [...]
UK Commercial Property Trust reports fall in asset value August 18, 2016 UK Commercial Property Trust (UKCPT) reported a fall in the value of its assets per share yesterday, down by 0.2 per cent in the six months to the 30 June. The news comes after Norway’s sovereign wealth fund cut the value of its UK real estate holdings due to the Brexit vote and the uncertainty [...]