Wealthy individuals fear they lack financial rigour June 5, 2011 WEALTHY people are more likely to have misgivings over their lack of financial self-discipline, despite having more spare cash, a survey from Barclays Wealth reveals today. One third of wealthy individuals wish they had more self-control over their financial behaviour, it said. Almost half (45 per cent) of people worth over £10m expressed a desire [...]
Job vacancies dropped in May June 5, 2011 JOB opportunities have slipped for the second straight month, yet remain 18 per cent higher than the same stage last year, a survey by Reed showed today. Vacancies have increased by 21 per cent since December 2009, the recruitment firm said. “Private sector growth is responsible for this increase across the board,” Reed said. Vacancies [...]
Calls to reform tribunal awards June 5, 2011 PAYOUTS for discrimination cases should be capped at £50,000, a senior City of London policy official has said. Employees that lose discrimination cases should be liable to pay some of the employer’s legal costs, Sir Michael Snyder has advised the government. Snyder’s comments echo the sentiment of many business groups in calling for swift reform [...]
UK’s factories confident of fast growth June 5, 2011 BRITAIN’S manufacturers remain confident that they can drive the economy forwards, leading industry group EEF revealed today. Despite the sector accounting for only 13 per cent of GDP, manufacturing has contributed one third of growth since the recovery began, a report from EEF said. And a positive balance of 27 per cent of factories are [...]
Bank’s rate-setters welcome Broadbent to the committee June 5, 2011 FORMER Goldman Sachs economist Ben Broadbent makes his debut on the Bank of England’s rate-setting committee this week, with stuttering growth and stubborn inflation heightening its dilemma. Only sluggish expansion was recorded for May in the UK’s service and manufacturing sectors, which make up over 90 per cent of GDP. Yet consumer price inflation spiked [...]
Persistent price pressures leave investors looking for alternatives June 5, 2011 HEIGHTENED inflation is forcing investors to look at alternative assets, fresh research from Clear Path Analysis reveals today. The world economy faces a “long term upward trend in inflation caused by lax monetary policies globally, which will significantly erode the value of low return assets and cash,” according to Deutsche Bank economist Thomas Mayer. Investors [...]
ECONOMISTS’ VIEWS: IS IT TIME TO START NORMALISING INTEREST RATES? June 5, 2011 PATRICK MINFORD | CARDIFF BUSINESS SCHOOL “Yes, because more easing will be counterproductive. They have to accept that there’s an environment of slow growth now. The danger is the Bank could push sterling down even more, by staying loose while the rest of the world tightens, resulting in longer-term inflationary effects.” SIMON WARD | HENDERSON [...]
Airlines slam EU emissions trade scheme June 5, 2011 GLOBAL airlines attacked the European Union yesterday over its plan to force them into the bloc’s emissions trading scheme, as the EU vowed to stand firm against threats of retaliation. Aviation chiefs spoke out against the EU move at a meeting in Singapore, with some warning of the danger of a trade war and airlines [...]
Why planning laws must not damage the City June 5, 2011 IT is easy to forget that between the tall buildings and the state of the art office blocks and in amongst the fashionable bars and high-end restaurants, substantial parts of the Square Mile are hundreds of years old. But while the City of London Corporation is rightly proud of the City’s heritage and goes to [...]
Arctic activists stop Cairn drill June 5, 2011 OIL explorer Cairn Energy was forced to stop drilling at one of its Greenland wells over the weekend after environmental activists boarded the rig, breaching an exclusion zone. Greenpeace said 18 of its protestors were arrested after storming the Leiv Eiriksson rig on Saturday in a bid to highlight safety and environmental concerns about drilling [...]