Job growth in London storms ahead of UK average, but introduction of National Living Wage could see employers in sectors with lower wages relying on younger workers or cutting jobs March 8, 2016 Demand for jobs across the UK is at the strongest it has been in years, with London racing out in front, according to a report out today. The study by ManpowerGroup pegged the net employment outlook – the proportion of employers who plan to hire staff less the proportion who plan to reduce their workforce – for the [...]
Banking Standards Board (BSB) chairman Dame Colette Bowe says rebuilding the trustworthiness of British banking will be a “long haul” March 8, 2016 Building the trustworthiness of the British banking sector will be a “long haul”, a former regulator has warned, as the Banking Standards Board (BSB) publishes its first annual review. The BSB is an independent body set up last year to improve standards of behaviour in the Square Mile and restore the public’s trust in financial [...]
Neighbourhood drones, virtual reality tours and holograms: Here are five ways we will be buying property by 2025 March 8, 2016 Dashing across town to visit a property for sale after work? According to trend analysts, The Future Laboratory, the days of paying a physical visit will be long gone by 2025 and replaced by virtual reality devices such a holograms instead. The report, commissioned by online estate agent easyProperty, has predicted several ways that buying, selling and redecorating [...]
UK house prices: The number of tenants in serious rent arrears improves in final quarter of 2015 March 8, 2016 The number of tenants falling seriously behind on rent fell in the final quarter of 2015 after worsening in the previous three months, according to figures released this morning. There were 82,900 households behind on more than two months’ rent between October and December, down from 84,200 in the third quarter, the latest data from [...]
Financial Conduct Authority chief hopes new senior managers regime would have prevented 2008 financial crisis March 7, 2016 The chief executive of the Financial Conduct Authority hopes the new senior managers regime would have prevented the 2008 financial crisis. Andrew Bailey described the previous system as "fuzzy", adding: "The Parliamentary commission on banking standards had this very nice analogy with Agatha Christie’s Murder on the Orient Express: ‘Everybody’s at the scene of the crime, nobody’s responsible [...]
Blackrock could face penalties and compensation costs after “inadvertent” sale of unregistered shares March 7, 2016 Blackrock Inc could face penalties and other costs in the United States after it sold more shares than it was authorised to in its iShares Gold Trust. Between 19 February and 3 March, the company issued and sold $296m of shares without properly registering them with the US Securities and Exchange Commission. Read more: BlackRock [...]
Oil gushes past $40 per barrel March 7, 2016 The price of oil has surged over $40 per barrel for the first time this year, as shifting sentiment raises hopes that a 20-month price rout is finally coming to an end. Crude has climbed by almost 50 per cent from lows of $27 a barrel after sliding US production and discussions between Saudi Arabia [...]
Federal Reserve vice chair Stanley Fischer says an increase in inflation is stirring March 7, 2016 Inflation in the US could be about to begin rising back up to its two per cent target, the vice chair of the Federal Reserve said today. Stanley Fischer said he disagreed with the idea that the link between unemployment and inflation had be severed. "Since the US economy is now below our two per cent inflation target, and [...]
Deutsche Bank: EDF is “facing a squeeze” between “political desire” and “financial realities” over Hinkley Point March 7, 2016 Shares in French utility company EDF fell by more than eight per cent today amid worries that Britain’s Hinkley Point nuclear power plant will not secure enough investment to go ahead. In a statement earlier today, EDF confirmed its finance director Thomas Piquemal had stepped down. Multiple reports indicated the former exec resigned with concerns [...]