US GDP growth revised down to two per cent December 22, 2015 The US economy grew at slightly slower rate than previously estimated between July and September, according to figures released today. The economy expanded at an annual pace of two per cent, according to the Bureau of Economic Analysis' (BEA) third estimate of GDP, down from 2.1 per cent in the second estimate. The BEA said the [...]
US crude and Brent crude oil prices tick up after sliding to multi-year lows December 22, 2015 Oil prices edged off multi-year lows this afternoon as investors closed bets prices would fall ahead of the holidays. The US benchmark West Texas Intermediate gained 0.36 per cent at $35.93 per barrel this afternoon, while the global benchmark Brent crude slipped 0.1 per cent at $36.25 per barrel. "The sentiment has been very negative and ahead of the holidays [...]
Standing desks: Did these researchers just kill them off? Sitting down doesn’t increase your risk of dying, scientists find December 22, 2015 Scientists have been telling us for years that spending the day sitting down at work is bad for our health, even shaving years off our life. Now, sit back and relax – they might have been proved wrong. Another set of researchers who set out to challenge the claims, which have spawned an entire industry of [...]
EY’s Japanese business suspended and fined 2.1bn yen over Toshiba reporting December 22, 2015 EY's Japanese arm has been handed a 2.1bn yen (£11.7m) over failings related to Toshiba, it was revealed today. In a statement, Japan's Financial Services Agency (FSA) said it was suspending Ernst & Young ShinNihon from accepting new engagements from 1 January until 1 March 2016, and handed it a 2.1bn yen fine. "Partners of the firm [...]
Tesco, Sainsbury’s, Asda, Morrisons and even Lidl supermarkets slash Christmas 2015 advertising spend December 22, 2015 Britain's beleaguered supermarkets have slashed the amount of cash they are spending on advertising over Christmas this year, with Tesco and Sainsbury's cutting budgets by as much as 30 per cent. Troubled Tesco made the biggest cuts to its festive advertising, spending almost £3m less in a four week run up to the big day compared to last [...]
How much tax do you have to pay on a partridge in a pear tree this Christmas? December 22, 2015 It's the question you all wanted to know the answer to. If you were going to give your true love a partridge in a pear tree, and the rest, what are the tax liabilities? How much would the taxman make, and are the gold rings deductible? Well, with the help of the Institute of Chartered [...]
Winter Solstice 2015: What you need to know about the shortest day of the year December 22, 2015 Today is officially the shortest day of the year, meaning we will see less sunlight than on any other day in 2015. By the time the sun goes down this afternoon, we will have experienced a total of seven hours, 49 minutes and 41 seconds of sunlight in the UK. So, what is the winter [...]
Job hunting on the cards post-Christmas as just over a quarter of finance professionals already looking for a new job December 22, 2015 Those fancying a change of scenery office-wise in 2016 better get polishing off their CV fast, as just over a quarter (27 per cent) of financial services professionals have already started looking. According to figures shown exclusively to City A.M. today by recruitment consultancy Robert Walters, almost half (46 per cent) of those working in [...]
Uber’s London HQ heads to Aldgate Tower while service expands to Sheffield, Bristol, Slough, Maidenhead, Windsor and more to follow December 22, 2015 Uber’s attempts at world domination show no sign of abating as the disruptive taxi app arrives at five more locations in the UK and parks itself at a new London headquarters. The billion-dollar startup will move from King's Cross to take up a new spot of around 40,000 sq ft – double the size of [...]
EU migrant crisis: One million migrants entered Europe in 2015 December 22, 2015 Over one million people have crossed into Europe by land and sea this year, according to the International Organisation for Migration (IOM). The Geneva-based organisation said the million mark was passed on 21 December, with just over a week to go until the end of the year. The number represents a four-fold increase on 2014, [...]