UK’s GDP dragged lower by sharp slump in net exports July 5, 2012 UK GDP was dragged down by a slump in net exports and significant running down of inventories, despite the counterweight made by growing government consumption, according to OECD research published yesterday. GDP’s fall of 0.3 per cent in the first quarter was driven mainly by contributions of -0.5 per cent from running down stocks of [...]
Fuel and tax worries drive UK motorists to favour diesel cars July 5, 2012 BRITAIN’S car industry continued to grow rapidly in June, sector data showed yesterday, with diesel vehicle registrations surging as consumers sought improved fuel efficiency. Last month saw 189,512 cars registered, up 3.5 per cent compared with the same month of 2011, according to figures from the Society of Motor Manufacturers and Traders (SMMT). The rise [...]
German economists hit back at Merkel’s banking union dreams July 5, 2012 MORE than 150 economists led by the head of Germany’s influential Ifo think-tank yesterday hit out at Europe’s plans for a banking union, as set out by Chancellor Angela Merkel last week. In an open letter to a German newspaper, Hans-Werner Sinn and other experts said forcing Europe’s biggest economy to extend its liabilities to [...]
Greece drops bailout demands July 5, 2012 Greece yesterday indicated that it would drop plans to seek easier terms for its bailout. Amid expectations that international leaders would bulk at any softening of its loan conditions, Yannis Stournaras, the new coalition government’s finance minister, said he would seek to accelerate cost-cutting reforms first. “The programme is off-track and we can’t ask for [...]
Factory workers look abroad July 5, 2012 Workers in British factories are more likely to look abroad for job opportunities than employees in other sectors, according to a survey released this morning by totaljobs.com. Across the whole workforce, America remains the most popular destination for potential emigrants, with Spain staying strong in fourth place, despite its economic and banking crisis, which has [...]
Skill gaps despite record grades July 5, 2012 Huge numbers of workers have skills gaps, despite rising educational qualifications, said the Office for National Statistics yesterday. In 2011 employers reported that roughly 1.5m employees had skills gaps, despite nearly 53 per cent achieving five or more GCSEs at grades A* to C in the school year 2009/10.
UK oil industry issues warning over regulation July 5, 2012 PLANS from Europe for further regulation in the oil and gas industry would hit the UK, a report published yesterday warned. The Oil and Gas UK 2012 economic report claims that production will be hampered by the proposed new measures which will put regulation in the hands of Brussels. EU-wide rules on offshore drilling will [...]
Ofcom moves to cap BT’s wholesale prices July 5, 2012 TELECOMS giant BT could see its revenues suffer following yesterday’s proposal by Ofcom of price caps on its wholesale charges. The telecoms regulator wants to cap the fees BT charges for the lease of its telecom lines, which provide high-speed links for businesses, broadband providers and mobile services. The proposals follow a review by Ofcom, [...]
Airlines agree to axe confusing card fees after watchdog probe July 5, 2012 AIRLINES are to ditch hidden debit card fees next month following an investigation by the Office of Fair Trading (OFT). Twelve companies including Ryanair and Thomas Cook have pledged to declare any extra debit card charges in the headline price of a ticket, abolishing the practice of imposing surprise fees at the end of online [...]
Vodafone pay package backed by ABI with blue top approval July 5, 2012 VODAFONE’S pay package was yesterday classed an inoffensive “blue top” by the ABI, which recommended shareholders vote in favour of the remuneration report. Vittorio Colao, chief executive of Vodafone, was paid £3m in salary, bonus and benefit payments in 2011, a year in which Vodafone dished out a hefty £10.2bn to its investors and became [...]
