Bovis share price surges as Redrow holds out hope for deal despite official takeover talks with Galliford Try March 13, 2017 Bovis Homes remains in talks with Galliford Try on a possible takeover after the FTSE 250 firm rejected a bid from rival housebuilder Redrow. The confirmed all-share merger with Galliford Try, also listed on the FTSE 250, would create a £2.5bn company. However, Redrow is clearly still holding out hope for a deal. In a [...]
Mario Draghi says Brexit has had no economic impact as the European Central Bank (ECB) holds interest rates steady March 9, 2017 European Central Bank (ECB) president Mario Draghi said Brexit has so far not had a significant economic impact. Draghi said: "We haven't seen yet a consequence" or a "significant economic impact" from Brexit, despite the ECB's expectations. He also painted a more positive picture of the Eurozone economy as the bank held monetary policy steady, [...]
Tax rise on national insurance “modest but welcome” says IFS on chancellor Philip Hammond’s Budget March 9, 2017 Moves by chancellor Philip Hammond to increase national insurance tax on the self-employed are “modest but welcome”, according to an influential economics think tank. Paul Johnson, head of the Institute for Fiscal Studies (IFS), said the tax increase will help “shore up the tax base and create a slightly less unequal playing field.” The increase [...]
Chancellor Philip Hammond defends national insurance tax rises in Budget and insists no promises were broken March 9, 2017 Chancellor Philip Hammond has defended his decision to raise national insurance contributions in the Budget, despite a Conservative manifesto pledge not to increase any tax contributions. “There was a broad commitment to lock taxes so that there would be no tax increases and that is what we have done,” Hammond told the BBC. However, up [...]
Budget 2017: Real wages predicted to rise after growth revised upwards this year by OBR March 8, 2017 Real wages are set to grow steadily for the next five years, the government’s Budget watchdog said, as it upgraded growth predictions for this year. Earnings will rise by 0.2 per cent above inflation this year, before accelerating to rise by 1.6 per cent more than prices by 2021, according to the Office for Budget [...]
Budget 2017: Consumer-led growth is unsustainable says former Bank of England deputy governor Sir Charlie Bean March 8, 2017 The consumption-led growth which prompted the government’s economic watchdog to raise its forecasts for the UK economy this year is “unsustainable”, according to a former deputy governor of the Bank of England. Sir Charlie Bean said households “have been running down savings” to fund consumption. However, “that is not sustainable,” he said in a briefing [...]
Budget 2017: Sterling recovers against the US dollar as markets react to chancellor Philip Hammond’s first Spring Budget March 8, 2017 Sterling recovered some of its losses against the US dollar in afternoon trading after chancellor Philip Hammond first Budget gave a relatively upbeat outlook of the UK economy. While borrowing this year is now forecast by the Office for Budget Responsibility (OBR) to be lower, Hammond revealed little in the way of big fiscal spending. [...]
Budget 2017: UK growth prospects upgraded by government’s forecaster March 8, 2017 The UK economy is set to grow much quicker than previously thought, according to the government's official forecaster, boosting chancellor Philip Hammond's efforts to cut public sector borrowing. The Office for Budget Responsibility (OBR) now forecasts growth of two per cent in 2017, chancellor Philip Hammond announced in his Spring Budget statement, while inflation is [...]
Chinese economy: China runs unexpected trade deficit for first time in three years as imports surge March 8, 2017 China recorded its first trade deficit in three years in February as imports in the world’s second largest economy surged. The balance of trade moved into a $9.15bn deficit during the month, according to China’s General Administration of Customs. Dollar-denominated imports jumped by almost 40 per cent year-on-year, to reach $129bn, more than doubling the [...]
Employers see skills shortages ahead as demand for talent rises according to the REC’s jobs report March 8, 2017 Demand for staff in Britain has reached its highest point in 18 months as concerns over skills shortage rise for employers, a new survey of recruiters shows. Job vacancies rose to their highest point since mid-2015, according to an index collected by the Recruitment and Employment Confederation (REC), continuing a strong recovery since dipping after [...]
