Scots to get tax controls if they vote no to split June 2, 2014 THE CONSERVATIVES yesterday vowed to hand more tax powers to the Scottish government if it rejects a split from the UK, as David Cameron warned that an independent Scotland would have to join the back of the queue for EU membership. The Prime Minister and chancellor George Osborne are both said to have thrown their support [...]
Red faces after double data failure moves US markets June 2, 2014 A MAJOR stateside data firm faced embarrassment yesterday when it was forced to admit a US economic release that moved markets was inaccurate, and had to be corrected twice. The manufacturing PMI for May from the Institute for Supply Management (ISM) was originally announced as 53.2, a drop from the previous month. When the mistake was [...]
Standard Life’s shares dip after pension change June 2, 2014 FURTHER changes to the pensions market, expected to be announced by the government in the Queen’s speech tomorrow, caused Standard Life shares to dip by nearly 1.7 per cent yesterday. News that ministers are to legalise collective pension schemes similar to those seen in Holland and Canada has caused unease, after warnings of risks associated [...]
After years of political vandalism, UK pensions are on the mend June 2, 2014 BRITONS don’t save enough. The fact that we don’t put enough money aside for a rainy day, for our retirement or to finance long-term care, is one of our great weaknesses. There was a time when the UK was able to boast that we had the best pensions system in Europe; those days are long [...]
The Queen’s Speech: What to expect June 2, 2014 WHEN: TOMORROWWHERE: PARLIAMENT THE DETAIL: Two pensions billsThe government has already previewed some of the pensions changes to be expected on Wednesday, but two bills are in the speech. One will cover collective schemes and the other will add flesh to the reforms announced in the Budget, including an advice guarantee for people about to [...]
What the other papers say this morning – 03 June 2014 June 2, 2014 FINANCIAL TIMES Pay rises for senior bankers hit 10pc Banking chief executives received an average pay rise of 10 per cent last year as US banks handed their heads much more generous packages than their European rivals, highlighting the widening remuneration gap on either side of the Atlantic. The analysis of total pay awarded to [...]
UK industry and lending point to broader growth June 2, 2014 DATA released yesterday indicated a broad-based UK recovery, with British manufacturers growing apace, as figures on the housing market suggest recent regulatory changes have dampened a concerning upswing in mortgage lending. Markit and the Chartered Institute of Purchasing and Supply (CIPS) announced a figure of 57 for their purchasing managers’ index (PMI) in May, the [...]
Apple breaks into the Fortune 500 top five as it upgrades software June 2, 2014 APPLE leapt up the Fortune 500 rankings yesterday, moving up to 5th on the annual listings of the top US companies by revenue, on the same day it unveiled a host of software updates to its iPhone, iPad and Mac software. The improvement is due to a 9.2 per cent jump in Apple’s revenue, to [...]
Brussels tells UK: Build more to cut risks from housing boom June 2, 2014 LONDON’S house price boom is creating dangerous imbalances in the British economy, the European Commission warned yesterday. More houses are needed to return the market to health, the study said, noting that soaring prices are driving up household mortgage debts and building financial risks. “The relatively slow response of supply to increases in demand continues [...]
Euro industrial growth muted by French firms June 2, 2014 FRENCH industry is still lagging behind the Eurozone’s modest recovery, while Spain’s manufacturers are reporting the strongest growth in more than four years. Markit’s purchasing managers’ index (PMI) for the currency bloc showed another month of slow growth in May, which nonetheless marks a solid improvement from the recession that ended last year. The score [...]
