KPMG staff put the pedal to the metal for McLaren pit-stop race December 18, 2014 McLaren’s F1 pit stop teams have a record of changing all four tyres on their car in two seconds – yes two. We doubt anyone in the City could do a better job but that’s not stopping KPMG from having a serious go. Following the announcement of KPMG’s alliance with McLaren Group, [...]
Black Friday 2014 lifts UK retail growth to 10-year high December 18, 2014 UK retail sales growth surged to a 10-year high in November thanks to roaring trade on Black Friday weekend, when retailers offered discounts on thousands of products. Falling commodity prices and the ongoing supermarket price wars have left households better off and helped boost consumer spending. Retail sales volumes rose 1.6 per cent on the [...]
Consumer confidence edges down from its soaring highs December 18, 2014 CONFIDENCE among UK consumers has dipped in December, according to two new sets of survey data. The GFK consumer confidence index published today dropped to minus four in December from minus two in November, according to figures released by the eponymous market research firm. However, it was minus 13 a year ago and near minus [...]
Swiss rates turn negative December 18, 2014 THE CENTRAL bank of Switzerland – the Swiss National Bank (SNB) – dropped interest rates to minus 0.25 per cent yesterday. The SNB has a target to keep the exchange rate at one euro to 1.2 Swiss francs. Reducing interest rates is an attempt to stop the franc rising in value. The franc is viewed as [...]
Family finances on the mend December 18, 2014 BRITONS had £11 more to spend per week in November than last year thanks to falling fuel and food prices and wages that have finally started to grow ahead of inflation. According to Asda’s latest income tracker out today, UK households had £179 per week in their pockets, after taxes had been deducted and bills [...]
West End braced for £150m pre-Xmas spree December 18, 2014 SHOPPERS are set to splurge £150m across London’s West End stores this weekend, as they make a last minute dash for Christmas presents. The New West End Company predicts £300m will be spent on Oxford Street, Regent Street and Bond Street over the coming five-day period.
Firms’ £1.8bn bill as pension deficits grow December 18, 2014 PROFITS at Britain’s leading firms are being dragged down by sustained pension fund deficits, thanks to falling bond yields, according to a study out today from Mercer. This problem is exemplified in AA corporate bond yields, which have fallen to 3.38 per cent as measured by the Markit iBoxx >15 year index. This figure is [...]
London Stock Exchange promises more adventures in America December 18, 2014 Investors surged into the London Stock Exchange (LSE) yesterday after the bourse reported “good progress” on building out its international business. Chief executive Xavier Rolet said the integration of US firm Frank Russell Company is well underway. He wants to use that acquisition as a springboard for expanded American operations. “The group has made good [...]
Banks tell small firms to borrow more to grow December 18, 2014 PRODUCTIVITY in the UK is being held back by small firms’ reluctance to borrow, the British Bankers’ Association (BBA) argued yesterday. Borrowing makes firms more likely to innovate, export and plan growth, the group said. The plea for small- and-medium-sized enterprises (SMEs) to borrow more comes after several years of banks being blamed for cutting [...]
London house prices and UK rent rises to slow in 2015 December 18, 2014 London house prices are set to stall in 2015, the Royal Institution of Chartered Surveyors (RICS) said today. Prices in the UK are forecast to grow by three per cent in 2015, yet in the capital growth will be zero. Rents in the UK are expected to increase by just two per [...]
