EU referendum: European Central Bank chief Mario Draghi says deal to keep the UK in the EU would be a boost for Europe February 1, 2016 European Central Bank (ECB) boss Mario Draghi has said that securing a deal to keep Britain in the EU would provide a "confidence boost" to Europe. "There is still political uncertainty surrounding the European project. This is true in the broader context of our Union," Draghi told European Parliament during a session on the ECB's annual [...]
US manufacturers are having a tough start to 2016 as weak global demand and strong dollar drag on exports February 1, 2016 The first month of 2016 was not a good period for factories in the US, according to survey data released today. Markit's purchasing managers' index – compiled from a survey of manufacturers – edged up to a score of 52.4 in January. While it is above the 50 mark that indicates no change in activity [...]
The US Federal Reserve’s favourite measure of inflation is at its highest for a year February 1, 2016 The US central bank's favourite measure of inflation held steady in December, according to figures released today. Prices, as measured by the personal consumption expenditures (PCE) index, dropped slightly in December, but were up 0.6 per cent year-on-year, the fastest rate for 12 months. The Bureau of Economic Analysis said that core PCE, which excludes food and energy, [...]
Right to Rent: Landlord checks on immigration status criticised February 1, 2016 New rules rolled out across England today that require landlords to check the immigration status of tenants have come under fire. A survey from the Residential Landlord Association (RLA) this morning reveals 90 per cent of landlords have received no information from the government about the new Right to Rent scheme. Nearly three quarters of [...]
ICAEW: Weak business optimism is a bad sign for chancellor George Osborne February 1, 2016 Business confidence has dropped to a three-year low, signalling lower growth and posing a threat to chancellor George Osborne’s budget targets. The Institute of Chartered Accountants in England and Wales’ (ICAEW) confidence index dipped to a score of 11.4 for the start of 2016 – the lowest since early 2013. Lower economic growth can impact [...]
The UK economy is having a slow start to the year, says the CBI January 31, 2016 The economy has had a sluggish start to the year, a business lobby group has said. The percentage of firms reporting higher growth over the last three months outweighed the percentage reporting more sluggish growth by six percentage points, according to the figures from the Confederation of British Industry (CBI) published today. It was the [...]
Former Lib Dem MP and ex-chief secretary to the Treasury Danny Alexander poised to join Asian Infrastructure Investment Bank January 25, 2016 Sir Danny Alexander, who was chief secretary to the Treasury under the coalition government until 2015, is odds on for a new post at the Asian Infrastructure Investment Bank (AIIB), according to the Financial Times. Alexander is expected to be named as one of five resident vice presidents of the bank. The AIIB is seen as [...]
Iranian banks in talks with regulators over resuming London operations January 25, 2016 Two Iranian banks in London are in talks with UK regulators over resuming operations, according to reports. Melli Bank and Persia International Bank had heavy restrictions placed on them in 2009 when economic sanctions were put on Iran. They are now looking to fulfil Bank of England criteria for financial firms, sources told Reuters. The [...]
Twitter names Nathan Hubbard as interim media head January 25, 2016 Twitter has appointed its commerce chief Nathan Hubbard as interim media head, according to reports. Hubbard's appointment comes after chief exec Jack Dorsey confirmed media head Katie Jacobs Stanton, product vice president Kevin Weil and engineering head Alex Roetter were all departing the company. He also said Skip Schipper, the company's head of HR, will be leaving too. Sources told [...]
Heathrow 13: Airport welcomes guilty verdict for Plane Stupid protesters January 25, 2016 Heathrow Airport has welcomed the news that 13 protesters who caused disruption on a runway last year have been told they are likely to be jailed over their actions. The so-called Heathrow 13, who broke onto a runway last July causing numerous flight cancellations, were found guilty of aggravated trespass and entering a security-restricted area of [...]