England eliminated from Euros July 18, 2013 FOOTBALL: England’s ladies crashed out of Euro 2013, with a 3-0 defeat to France.
OBR says timebomb is ticking for ageing UK July 17, 2013 THE SPIRALLING cost of pensions, health and social care for the elderly mean the UK faces tens of billions of pounds in spending cuts or tax hikes, the government’s fiscal watchdog warned yesterday. The Office for Budget Responsibility (OBR) said that the changing age of the population would put the public purse on an unsustainable [...]
Gas prices may fall by quarter thanks to shale July 17, 2013 GAS PRICES in the UK could fall by as much as a quarter if the country successfully exploits its shale gas reserves, according to a government-commissioned report released yesterday. The most optimistic scenario plotted by consultants predicts that the gas price will drop by more than 25 per cent by 2030, potentially saving families hundreds of pounds [...]
Welfare state needs reform to avoid a long-term fiscal crisis July 17, 2013 THERE is no better way to get depressed than to study the Office for Budget Responsibility’s long-term forecasts for the British economy. I’m sorry to have to write about this on such a beautiful summer’s day, but it’s a disturbing and crucially important story. The biggest danger is that our ageing population will push up [...]
Unemployment down but more time spent jobless July 17, 2013 THE NUMBER of people without jobs who are looking for work fell by 57,000 between March and May, against the previous three months, the Office for National Statistics (ONS) revealed yesterday. Yet the number of people who are unemployed for more than a year or two is on the rise. In the same space of [...]
What the other papers say this morning – 18 July 2013 July 17, 2013 FINANCIAL TIMES Higher salaries to offset bonus cap Four out of five European banks plan to raise executive base salaries to counter regulation-driven bonus cuts next year, potentially undermining the effectiveness of the planned variable pay cap in bringing down pay. An EU-wide bonus cap will from 2014 limit variable pay to up to twice [...]
IMF warns China as Osborne gets backing on cuts July 17, 2013 CHINA needs to take “decisive measures” to ensure its economy continues to grow amid growing domestic problems, the International Monetary Fund (IMF) said yesterday. IMF officials said in a report that the world’s second biggest economy has grown too reliant on debt and investment driven by exports. “A package of reforms is needed to contain the [...]
Money printing set to continue July 17, 2013 US MONEY printing could continue apace into next year after Fed chairman Ben Bernanke last night hinted that he might wait longer than previously expected before slowing down the pace of its quantitative easing programme. Markets rose gently on the speech, as The Fed boss tried to calm traders. “A highly accommodative monetary policy will [...]
Santander cuts paid accounts July 17, 2013 BANKING giant Santander yesterday said it would scrap packaged deals on paid-for current accounts, in a move that will affect hundreds of thousands of customers. Packaged accounts offer add-ons such as phone insurance for a fee that can hit £20 a month. Santander will scrap all such accounts from 19 October, citing a desire to [...]
Carney unites Bank against more stimulus July 17, 2013 THE BANK of England’s rate-setting monetary policy committee (MPC) voted unanimously to reject more QE earlier this month, according to minutes released yesterday. Interest rates were also unchanged during the July meeting, which was Mark Carney’s first as the new governor. Nine MPC members voted for no increase in the Bank’s quantitative easing programme, while [...]
