People in Venezuela have been told not to turn up for work next week because of an electricity crisis March 16, 2016 Venezuela has decided to extend its Easter celebrations by three days next week due to massive electricity shortages hitting the country. The country's president Nicolas Maduro has given everyone, both private and public sector employees, an extra three day off work. State employees were told last weekend they should stay home for the week. Venezuela is currently [...]
M&G backs £200m Snowhill scheme in Birmingham, as part of a 20 year master plan to turn the area into a business hub March 16, 2016 Fund manager M&G real estate has swooped in to back the £200m construction of Birmingham's Three Snowhill, in what will be one of the largest city office schemes to be built outside London. The 420,000 square feet building, which is being built speculatively by developers Ballymore, is part of a wider 20-year master plan to [...]
Budget 2016: Advice allowance for pension to be raised after recommendations from the Financial Advice Market Review March 16, 2016 Changes to the pensions advice allowance mean that people will now be able to dip into their pension pots to pay for pre-retirement financial advice. Building on the recommendations from the Financial Advice Market Review (FAMR) earlier this week, the government will open a consultation this summer on whether to allow people to withdraw £500 tax [...]
Budget 2016: Labour brands the chancellor’s Budget a failure, claiming it is “built on sand” March 16, 2016 The leader of the Labour opposition Jeremy Corbyn has criticised the chancellor George Osborne's 2016 Budget, labelling it as “the culmination of six years of failures.” He described the economic recovery since the 2008 financial crisis as "built on sand, on a budget of failure". Corbyn said: He’s failed on the budget deficit, failed on debt, failed on investment, [...]
Budget 2016: Commercial stamp duty cut for small firms while large-scale buyers get hit March 16, 2016 Commercial stamp duty has been cut by the chancellor George Osborne in the 2016 Budget, while the government is set to go ahead with plans to increase a duty on buy to let properties and second homes. The stamp duty on commercial property will have a zero rate band on purchases up to £150,000; a two per cent rate on [...]
Budget 2016: Fuel duty frozen by chancellor George Osborne for the sixth year in a row to save the average driver £75 per year March 16, 2016 The chancellor has said that fuel duty will be frozen for the sixth year in a row, as part of the 2016 Budget. George Osborne claims the move will save the average driver £75 a year. Osborne said: "We had pencilled in an inflation rise, but fuel duty will be frozen for the sixth year in a row. It's the [...]
Budget 2016: Osborne announces cut to business rates, removing 630,000 small businesses from paying any rates at all from next year March 16, 2016 The chancellor George Osborne has announced that 630,000 small business will pay no business rates at all from next year, as he cuts business rates across the board. Osborne claims the reduction will save £7bn per year for businesses. There will be a new threshold for small business rates, more than doubling entry level of tax on [...]
Budget 2016: George Osborne uses his speech to warn against Brexit and make case for UK remaining in the EU March 16, 2016 Chancellor George Osborne has used the Budget 2016 announcement to make the case for Britain remaining a part of the European Union when the country takes to the polls on 23 June. The chancellor announced the economy will grow two per cent this year, 2.2 per cent in 2017 and 2.1 per cent in each of three years [...]
Deutsche Bank won’t be profitable in 2016, chief executive John Cryan warns – sending the bank’s share price sharply lower March 16, 2016 German banking behemoth Deutsche has said the ongoing overhaul of the bank in the wake of regulatory changes means 2016 "will not be a profitable year", chief executive John Cryan told a Morgan Stanley organised conference in London this morning. Investors have baulked at the announcement, sending the shares down five per cent in Frankfurt. [...]
BMW jumps on the SUV band wagon as it warns driverless cars are still some time away, boosting the German car makers share price almost four per cent March 16, 2016 On the same day that chancellor George Osborne is expected to announce driverless cars could begin trials on UK roads as soon as next year, luxury German car giant BMW has said it doesn't expect the tech to go much further than tests this decade. “We believe that, at the moment, the technical and social challenges involved [...]
