Many UK businesses face a perfect storm, as uncertainty over a potential Brexit, a slowdown in China and the introduction of National Living Wage looms March 29, 2016 It's not just the bank holiday's miserable weather that looked bleak, with many of the country's key employers predicting grey skies ahead as a perfect storm of economic uncertainty brews. According to a report out today by the Confederation of British Industry (CBI) and PwC, optimism among financial services firms is falling at its fastest pace [...]
UK pensions: One in five Brits expect to retire after their 70th birthday, and it’s stressing people out March 29, 2016 We hope you enjoyed your bank holiday weekend but don't get too used to the downtime – a study out today by Willis Towers Watson has found that one in five (21 per cent) Brits don't expect to retire until after their 70th birthday. Not to be too big a bearer of bad news but the study [...]
Insurers predict they will need to cut costs over the next few months as competitors with a technology focus creep into their market place March 29, 2016 General insurers expect to see their profitability sink over the next three months, despite also predicting a rise in premiums, a study out today has found. The survey by the Confederation of British Industry (CBI) and PwC discovered that insurers, particularly those dealing with general insurance, are increasingly worried about competition from startup InsurTech companies and are [...]
UK pensions: Shortfall in UK private sector defined benefit (DB) pension schemes has doubled over the last decade to £0.8 trillion March 29, 2016 Private sector defined benefit (DB) pension schemes carried a collective deficit of £0.8 trillion in 2015, around double the shortfall compared with roughly a decade ago, according to research out today. The study by JLT Employee Benefits discovered that DB schemes had £1.3 trillion in assets in 2015, compared with £0.65 trillion in 2006, but the schemes also had liabilities [...]
Craft beer’s reputation as a “luxury” and “aspirational” item makes a successful brew in London March 29, 2016 The number of new breweries opening in London reached a new high in 2015, jumping 24 per cent from 29 new openings in 2014 to 36 last year due to its status as a "luxury" product. The boom in new openings in London contrasts with a slight slowdown across the rest of the UK, which decreased by [...]
EEF slams government over skills shortage as new survey finds nearly three in four firms are struggling to recruit skilled workers March 29, 2016 Nearly three in four manufacturers have struggled to recruit skilled workers in the last three years, and almost just as many are worried they will face similar problems in the years to come, according to a new survey out today from the EEF. The EEF said firms are dealing with a lack of quantity and [...]
EU referendum: Britain Stronger in Europe and Vote Leave spar over claims that freedom of movement puts British families in danger March 29, 2016 Pro-EU campaigners have slammed the eurosceptic Vote Leave campaign, after the pro-Brexit group claimed the European Union’s freedom of movement policies “put British families in danger”. In a new report out today, Vote Leave says that EU law does not require other EU countries to inform the UK on a systematic basis of the criminal records [...]
Financial services lead strong growth in professional sector pay March 29, 2016 Pay the professional sector is rising robustly, new figures released today show. The average salary in the professional sector – which includes lawyers, doctors, accountants and generally any role requiring a degree – was 5.1 per cent higher in February than the same month last year. Pay for accountants rose 8.9 per cent, the data [...]
Facebook-owned Oculus starts shipping Rift virtual reality headsets March 28, 2016 Deliveries of Oculus Rift headsets began today, with the virtual reality gear shipping to more than 20 countries and regions. The company said the first to receive the new gadgets will be those who invested in Oculus during its crowdfunding campaign, conducted via Kickstarter. The firm will then start shipping pre-ordered Rifts mid-week. Social media [...]
Premaitha Health’s IONA prenatal test offered at tenth laboratory March 28, 2016 AIM-listed molecular diagnostics company Premaitha Health has announced its tenth laboratory customer signed up to offer its non-invasive prenatal IONA test. The IONA test, which analyses fetal DNA circulating in the mother's bloodstream to estimate the risk of the fetus being affected with Down's syndrome and other genetic conditions, was launched in February 2015. The laboratory [...]