Budget deficit reduction efforts hit by low wage growth this year October 13, 2014 Income tax revenue is falling below expectations this year due to sluggish wage growth, the Office for Budget Responsibility (OBR) said yesterday, warning it will hit efforts to close the budget deficit. The economy is expanding strongly and creating jobs at a record pace, which should be good for the government’s finances. Unemployment stands at [...]
Slowdown fear eased as China data improves October 13, 2014 CHINA’S trade data released yesterday showed a healthy gain in domestic and foreign demand with exports and imports surpassing expectations. Exports grew 15.3 per cent year-on-year in September compared with 9.4 per cent in August. Imports soared ahead at seven per cent year-on-year growth, up from minus two per cent in August. Technology exports grew [...]
Global decline in shares stokes growth fears October 13, 2014 STOCKS in Dubai tumbled from nearly seven per cent yesterday, adding to a bearish period that has seen equities sink in recent weeks. The main indexes in Dubai and Saudi Arabia dropped by 6.5 per cent in trading yesterday. Global markets took a big hit at the end of last week as investors fled to [...]
How much does a FTSE 100 director get paid? Earnings rocket as companies raise share incentives October 13, 2014 Long-term incentive payments saw FTSE 100 company directors enjoy huge earnings rises over the last year, according to new figures published this morning. Salaries rose by a relatively modest 2.5 per cent, data released by employment researchers Incomes Data Services showed, while bonuses rose 12 per cent. However, overall earnings rose 21 per cent in [...]
Business boom dented by euro area troubles October 12, 2014 UK BUSINESSES lost some momentum in September, with survey data showing that most regions have been impacted by economic troubles across the Channel. A purchasing managers’ index (PMI) released by Lloyds Bank, which records business activity, scored 57.4 for the UK average, down from 59.3 in August. Anything above 50 implies growth and although this [...]
Confident UK firms planning hiring spree despite export fears October 12, 2014 UK firms are confident about the next three months and are planning to take on more workers despite expectations that exports will be hit by weak growth in the Eurozone. The BDO employment index, released this morning by accountants BDO, achieved its 13th consecutive rise in September to reach a post-crisis high of 112.3. This [...]
Entrepreneurs complain of a lack of funds for investment October 12, 2014 ENTREPRENEURS in the UK are being held back by a lack of credit and investment availability, survey data released this morning shows. Half of the entrepreneurs surveyed by accountancy firm EY cited access to finance as the main barrier to setting up a new business. In stark contrast, market conditions were considered bad by only [...]
Christine Lagarde and Mario Draghi call for German fiscal stimulus to avoid recession October 9, 2014 International Monetary Fund (IMF) boss Christine Lagarde took aim at German policy makers yesterday, suggesting that the Eurozone’s biggest economy must use fiscal stimulus to stave off recession. “We’re not suggesting that the Eurozone is heading toward recession, but we’re saying there is a serious risk that happens if nothing is done. But we are [...]
Skills shortage in construction or property to push up wages by as much as 10pc, says Hays October 9, 2014 Recruitment giant Hays said yesterday that skill shortages were pushing up some white collar salaries as much as 10 per cent, despite sluggish wage growth across the economy as a whole. A booming jobs market has resulted in the firm placing 20 per cent more staff in its latest quarter than in the same period [...]
US jobs data to calm nerves of policy makers October 9, 2014 THE US labour market continues to show improvement with the number of new claims for jobless benefits falling last week, coming close to its lowest level for 14 years. Initial claims for unemployment benefits fell by 1,000 to 287,000, according to data released yesterday by the US Department of Labor. The figures beat expectations. It was [...]