UK shoppers flee high street over August bank holiday weekend August 31, 2015 Heavy rain over the bank holiday weekend resulted in a washout for high streets across the country with people opting to visit shopping centres instead, new figures show. High street stores suffered a 4.1 per cent year-on-year decline in footfall on Sunday after the wet weather and strong winds dampened shoppers' mood, according to [...]
British economy is expanding despite weak global growth August 31, 2015 ECONOMIC growth picked up pace in the three months to August, new survey data suggests, despite a weak global economy weighing on exports. The percentage of firms that said output had climbed over the period minus those that said it had declined was 31 per cent, according to research released today by the Confederation of [...]
UK income tax haul from non-doms has risen 7 per cent and hit £6.6bn last year August 31, 2015 The amount of income tax paid by so-called “non-doms” based in the UK has risen by seven per cent, according to a new report out today from Pinsent Masons, the global law firm. According to the report, non-doms – individuals claiming certain tax benefits because their permanent home is outside of the UK – [...]
British luxury sector to grow by £51bn by 2019 despite China cuts August 31, 2015 BRITAIN’S luxury goods industry is expected to grow by 60 per cent to £51bn over the next four years, new research shows, defying fears of a slowdown among big Chinese spenders and other emerging markets. The sector contributed £32.2bn in sales in 2013, valuing the sector at 2.2 per cent of the UK’s GDP, according [...]
Private equity gets boost from small Brit firms August 31, 2015 PRIVATE equity investment into UK small and medium sized firms hit a two year high in the first half of 2015, according to figures, underscoring the insulation small British outfits enjoy from global headwinds. Turmoil in the Eurozone sparked by the Greek debt crisis and ongoing fears over a slowdown in China have hit larger [...]
BNY Mellon ETF pricing glitch has been fixed August 31, 2015 BNY MELLON said yesterday that it had fixed a software glitch which prevented it from providing the value of numerous mutual funds and exchange traded funds (ETFs) over the past week. The company is one the world’s largest custodian banks for investment funds and provides prices to calculate a fund’s net asset value (Nav), which [...]
High prices and rate threat lifts remortgaging August 31, 2015 MORE Brits are cashing in on the rise in the value of their property by remortgaging, according to new figures from a broker. The average remortgage loan reached a new high of £170,094 in July, the Mortgage Advice Bureau (MAB) said yesterday. The data indicate that borrowers are opting to cash in on property gains [...]
Card spending via contactless jumps to £2.5bn in the UK as the payment limit rises to £30 August 31, 2015 The spending limit on contactless cards has today increased from £20 to £30, as new figures show a surge in spending to £2.5bn in the first six months of the year. The use of contactless technology to pay in restaurants and shops has soared in popularity since it was first introduced in 2007, when [...]
Pay hike on the cards as Oliver Bonas becomes first UK high street chain to pay living wage August 31, 2015 Gifts and homeware retailer Oliver Bonas has provided a major boost to the high street after committing to paying its staff the living wage. The chain, which has 43 UK stores as well as a warehouse and head office in Chessington, announced it will start paying all directly-employed staff and third party contractors at [...]
HSBC and NatWest online banking glitch: Bankers return unrested after bank holidays August 31, 2015 HSBC and NatWest faced the financial equivalent of leaving the oven on before going on holiday this weekend, as both banks suffered IT glitches over the bank holiday leaving over 275,000 customers without their wages. The fault meant that salaries were not transferred from HSBC business accounts to the accounts of employees, including those [...]
