Uber drivers are more productive than taxi drivers – National Bureau of Economic Research March 14, 2016 Uber drivers are more productive than taxi drivers, according to a new paper from the National Bureau of Economic Research in the US. However, this conclusion has been made based on figures from five US cities – Boston, Los Angeles, New York, San Francisco and Seattle – so London's black cab drivers should not feel [...]
Budget 2016 pensions special: X ways your pension could change after tomorrow’s Budget March 14, 2016 NULL
Putin orders Russian troops from Syria declaring mission accomplished, as foreign ministry tasked with intensifying attempts to broker a peace deal March 14, 2016 Russian President Vladimir Putin has ordered the main part of the Russian military to begin withdrawing from Syria, claiming the mission has achieved its objectives. According to a Kremlin spokesman Putin telephoned his ally Syrian President Bashar al-Assad to inform him Russian forces will begin to leave the country from Tuesday. Russia's role in the conflict allowed Syria to recapture territory from [...]
Fidelity analysts back consumer and tech sectors as utilities, industrials and energy lose their appeal March 14, 2016 The consumer and tech sectors will drive corporate earnings growth this year, a survey of analysts at an investment giant revealed today. However, the survey of 200 analysts at Fidelity International reveals they have dramatically toned down their outlook on utilities, industrials and financial companies for this year. Subdued inflation, rising house prices, wage growth and falling unemployment [...]
Morgan Stanley hikes risk of global recession to 30 per cent amid low growth and lack of faith in central banks March 14, 2016 Economists at Morgan Stanley are becoming increasingly worried the global economy is teetering on the brink of recession. They've placed the likelihood of the world economy falling back into recession at 30 per cent in 2016, blaming low oil prices and decreasing effects of central banks' extraordinary monetary stimulus measures to support economies. Experts at the US investment bank [...]
Pigeon power: Air quality firm Plume Labs launches first flock of pollution-monitoring pigeons in London March 14, 2016 Pigeons may look like pests to some Londoners, but the prolific city birds have found a new purpose – today marks the first day of the capital's new pigeon pollution patrol. Air quality monitoring firm Plume Labs has partnered with Twitter UK and DigitasLBi to launch a flock of pigeons equipped with "little backpacks" – [...]
Publishing and events company Ascential reports return to pre-tax profit in 2015 after flotation this year March 14, 2016 Ascential, the Cannes Lions advertising festival owner that floated on the London Stock Exchange this year, returned to pre-tax profit in 2015. The figures Ascential reported revenue growth of 6.1 per cent to £319.1m. This growth was down from seven per cent in 2014. Its pre-tax profit for 2015 was £8.4m, up from a loss of £5.4m the year before. The [...]
No Voting rights for Germany – Whilst ECB’s Draghi decided to cut rates and boost QE Germany’s Jens Weidmann was not allowed to vote March 14, 2016 ECB’s decision to pay money to banks if they finally increase their lending business as well as the purchase of corporate bonds within the PSPP (Public Sector Purchase Programme) has encountered in Germany’s financial and academic community almost unanimous disapproval. Moreover the German public follows Draghi’s policy with rapidly growing distrust. Had the Germans known, [...]
Mipim 2016: The Scottish Cities Alliance is wooing property bosses with boozy “Scottish hospitality” March 14, 2016 London's property folk are well-known for partying hard. But will Scottish civil servants drink them all under the table in Cannes this week? Scottish Cities Alliance, a government body uniting Scotland's seven cities, has announced its presence at Mipim by sending out invitations to three separate parties throughout the week. The invites don't explain what officials will actually be doing there [...]
UK house prices: Stamp duty – unless we’re still at war with France, it should go March 14, 2016 Stamp duty was originally introduced as a temporary tax in 1694 by a weird coalition of Dutch and British Monarchs, to maintain the war against their French foes. The duty then lay in the background until 1997, when Gordon Brown‘s first act as chancellor was to resurrect it. Brown’s master plan was to impose a [...]