4 reasons why Europe’s car sector is gaining speed December 5, 2013 General Motors (GM) said today that it's trimming Chevrolet's European presence. But the outlook for Europe's car sector is pretty good. Chevrolet will no longer have a "mainstream presence" in western and eastern Europe, with GM competing mainly under its Opel and Vauxhall brands. This honing sees Cadillac, by contrast, flourishing – GM is currently finalising [...]
Blockbuster shutdown sees 1,200 jobs axed December 5, 2013 More than 1,200 jobs are to be lost as Blockbuster shuts up shop, reports Sky News. No buyer has been found for the high street store's 153 shops, meaning administrator Moorfields is to close it down by the end of the year. 62 Blockbusters are set to close over the next few days with job [...]
These three huge events could overshadow Osborne’s Autumn statement December 5, 2013 While investor and media attention will hang on what chancellor George Osborne will unveil at today's Autumn statement – we're not expecting anything significant. We'll probably see some token giveaways, and ever more complexity added to our tax regime in the form of hikes. The composition of measures that Osborne selects will be telling, but [...]
As passenger numbers grow is EasyJet about to beat Ryanair in the battle for the skies? December 5, 2013 EasyJet has posted an increase in its passenger numbers for the month of November to 4,255,978. This represents a rise of 3.4 per cent on the same period last year. November's increase in passengers marks further good news for the low-cost airline in stark contrast to Irish competitor Ryanair, which has struggled in recent months. [...]
What you need to know before the open – 05/12 December 5, 2013 Markets await the Autumn Statement this morning, but it's unlikely to impact gilt yields, and we're not expecting a change in the Bank of England's rate decision, either. With 25 minutes to go the FTSE is forecast to start the day -10 at 6500. — David Jones (@DavidJones_IG) December 5, 2013 Japan's Nikkei [...]
Keep working until you’re 70, Osborne says December 4, 2013 THE STATE pension age is set to rise to 70 after 2050, the chancellor will confirm in his Autumn Statement today. George Osborne will set out his plan for a “responsible recovery” and announce that the state pension age will change to reflect increased life expectancy. Retirement age will now be set according to the principle [...]
Departmental budgets cut by an extra £1bn a year December 4, 2013 THE CHANCELLOR will also announce cuts to government spending today, with an extra £1bn a year being shaved off departmental budgets over the next two years. There will be no cuts to health, education, international development, HMRC, local government or security services coffers, the Treasury confirmed last night. The Ministry of Defence will also be [...]
Autumn statement 2013: What to watch out for December 4, 2013 WHO: GEORGE OSBORNEWHEN: 11.15AM TODAYWHERE: HOUSE OF COMMONS WHAT WE ALREADY KNOW Business rate rises cappedRate rises will be limited to 2 per cent in England and Wales in 2014, not linked to inflation State pension reformRetirement age rising to 69 by late 2040s Paper tax disc abolishedVehicle exise duty (VED) to be paid online Tax-free childcare vouchersAvailable [...]
What the other papers say this morning – 05 December 2013 December 4, 2013 FINANCIAL TIMES US business chiefs want budget deal Chief executives of big US companies are warning that the country faces another year of sluggish growth, expressing hope that a deal over the budget being discussed in Congress will kick-start the economic recovery. Jim McNerney, chief executive of Boeing and chairman of the Business Roundtable, said [...]
UK tipped for faster growth to end the year December 4, 2013 THE UK economy is on track to grow by an impressive one per cent in the final three months of the year, analysts said yesterday. A leading survey of Britain’s services sector fell below expectations but still pointed to strong expansion in the industry. Markit’s latest purchasing managers’ index (PMI) recorded a headline level of [...]