EU referendum: Lord Mandelson warns Brexit would lead to tariffs of up to 20 per cent on UK exports, inflicting “serious damage on competitiveness” March 1, 2016 Labour peer Peter Mandelson has warned Britain leaving the European Union would lead to tariffs of up to 20 per cent on UK exports, inflicting "serious damage on the competitiveness" of some industries. The former European Union trade commissioner said in a speech today that those campaigning for a so-called Brexit are "trying to sell people a fantasy” [...]
Eurozone manufacturing growth drops to year-low – Markit PMI March 1, 2016 An indicator of manufacturing growth in the Eurozone hit a year-low in February, according to figures released this morning. Markit's manufacturing purchasing managers' index (PMI) dipped to a score of 51.2 from January's 52.3. While it is above the 50 no-growth mark, it suggests growth slowed from January. Production, new orders, new export business and hiring all lost momentum. [...]
Eurozone January unemployment falls to lowest level since August 2011 March 1, 2016 Eurozone unemployment fell for the third month in a row in January, slipping to its lowest level since August 2011. Data released today by Eurostat showed the single currency area's unemployment rate fell to 10.3 per cent in January from 10.4 per cent a month earlier. This beat economists' expectations, with the majority expecting it [...]
In pictures: Bugatti reckons its £1.7m Chiron, unveiled at the Geneva Motor Show today, will break world speed records March 1, 2016 As the Geneva Motor Show opened its doors today, Bugatti launched one of the most anticipated cars of the show: its €2.4m (£1.7m) Chiron. At a press conference, the company said its follow-up to the Veyron, the speed of which has been "limited" to 420km/h (260mph), is "ready for a new world speed record". "The Chiron is… very well-positioned to [...]
Barclays shares suspended from trading after falling 11 per cent March 1, 2016 Trading in Barclays was suspended this morning after the bank's share price plummeted more than eight per cent, following another dismal set of results and news of a major restructure. Barclays' share price tumbled 11 per cent in mid-morning trading, before being halted briefly. Trading was resumed shortly afterwards, but the share price was still down around 10.6 [...]
UK manufacturing growth slumps to lowest pace since 2013 – Markit PMI March 1, 2016 A gauge of the manufacturing sector's growth dropped to a 34-month low this morning. Markit's manufacturing purchasing managers' index – compiled from a survey of businesses – fell to a score of 50.8 for February. It is only slightly above the 50 mark that implies there was no growth on the previous month. Output growth eased sharply while the [...]
EU referendum: Mayor Boris Johnson backs report saying London could be Europe’s world city after Brexit – but needs further infrastructure investment March 1, 2016 Mayor of London Boris Johnson has made his latest intervention into the EU debate, arguing that can still be "Europe's world city" even in the case of a Brexit. The Johnson-backed report, titled London: The Global Powerhouse, says that if the UK forges ties with new markets and maintains its competitive edge, London can overcome competition from rival global [...]
London house prices: South East and commuter areas dominate list of Britain’s best rural places to live March 1, 2016 London’s commuter areas have dominated a new list of the top 50 rural places to live in Britain. South Oxfordshire was the top local authority district to live in, according to the Halifax Rural Quality of Life Survey. Chiltern and Waverley, both within the commuter belt, helped make up the top four along with Rutland [...]
EU referendum: These are the most eurosceptic – and europhile – parts of Britain March 1, 2016 The campaign is heating up in the build up to the EU referendum in June, with Prime Minister David Cameron recommending the UK to stay in but many in parliament, his party, and even his cabinet disagreeing. The In and Out campaign groups will now be ramping up their efforts in a last ditch attempt to win over [...]
London house prices: UK capital is most expensive place in the world for a company to employ staff, as real estate recovery shifts from east to west March 1, 2016 London has been named the world’s most expensive city to accommodate an employee for the third year in a row, maintaining its position ahead of New York, while costing more than double cities like Sydney, LA and Chicago. San Franciso may be home to a growing number of Silicon Valley workers but despite prices soaring 13 [...]