Hong Kong row over Beijing’s election rules August 31, 2014 THE CHINESE government yesterday prompted another round of protests in Hong Kong, as Beijing ruled out the open nomination of candidates to elect the city’s Chief Executive. If current plans go ahead, Hong Kong’s 2017 election will be the first ever in which all adult residents of the region are permitted to vote. Despite this [...]
Massive price premium added to homes near overground stations August 31, 2014 Houses within easy walking distance of London overground stations have been boosted in value by £90,000 since the line was set up, running to an eye-watering £80bn price increase in total. According to analysis by Hamptons International, homes within a 10 minute walk of an overground station have outdone the rest of London’s house price [...]
UK jobs boost: hiring up by a fifth in a year August 31, 2014 PROFESSIONAL recruiters have seen a solid uptick in the number of advertised vacancies, up by more than a fifth since the same period last year. According to the Association of Professional Staffing Companies (Apsco), recruiters are reporting 22 per cent more vacancies now than at the end of summer in 2013. The level of job [...]
Co-operative Group members vote for wide-ranging reforms August 31, 2014 THE CO-OPERATIVE Group’s members overwhelmingly backed a major reform plan this weekend, following the crisis in the mutual’s governing structure. The reforms were a watered-down version of those proposed by former City minister Lord Myners. More than 80 per cent of voting members approved the changes, which reduce the power of elected board members, following [...]
Confident consumers to drive growth into autumn August 28, 2014 Confidence in the UK economy climbed again this month, with one major index hitting the highest level in nearly a decade, a positive signal for growth in the rest of 2014. GfK’s consumer confidence index rose back into positive territory this month, rising to one – the survey has only risen into positive territory once [...]
Banks still fail to lend more to small businesses August 28, 2014 THE FUNDING for Lending (FLS) scheme is still failing to increase loans to smaller firms, according to figures released yesterday by the Bank of England. The banks participating in the scheme drew down £3.2bn between April and June, despite the fact that overall credit to small- and medium-sized enterprises (SMEs) was still on a declining [...]
French minister Emmanuel Macron targets sacred 35-hour week August 28, 2014 Emmanuel Macron has dived straight into the deep end of French politics as the country’s new economy minister, hinting that the nation’s sacred 35-hour working week could be guillotined. Speaking to French newsmagazine Le Point, Macron floated the idea that the 35-hour week passed under Prime Minister Lionel Jospin could be relaxed. The rule currently [...]
US economy roars back stronger than ever after arctic conditions August 28, 2014 THE US economy’s bounce back from polar conditions early this year was even stronger than statisticians initially expected. GDP jumped by 4.2 per cent on an annualised basis during the second quarter, a larger increase than the four per cent which was initially projected. Business investment was revised upwards significantly, with an 8.2 per cent expansion recorded, [...]
London’s house price surge hits the buffers as demand declines August 28, 2014 The housing market resurgence that started last year appears to be slowing down after rapid price hikes, with the higher valuations increasingly putting off potential buyers, especially in London. A set of data released this morning by Hometrack shows just a 0.1 per cent month-on-month increase in August across the country. London prices were completely [...]
Migration at its highest since 2011 despite Cameron’s pledge to cut immigration August 28, 2014 THE LATEST figures on immigration to the UK show the highest levels of net migration in nearly three years, souring the Conservative party’s hopes for a continued decline. During the year to March, the Office for National Statistics (ONS) recorded net migration of 243,000 people, the highest figure since the year to June 2011. Net [...]