Inflation rises to its highest in two years as weak sterling takes its toll December 13, 2016 The UK's inflation rate rose to 1.2 per cent in the year to November, up from 0.9 per cent in October – and beating expectations of 1.1 per cent. That puts it at the highest rate since October 2014, when it was 1.3 per cent. The rise was driven by hikes in clothing prices, motor [...]
Another British tech firm has been bought by a foreign company December 12, 2016 Shares in e2v, the British tech firm which supplies imaging sensors that help the Hubble space telescope and the Mars Curiosity Rover take pictures, have jumped almost 50 per cent after agreeing a £620m sale to US-based Teledyne. In the latest example of a US firm being snapped up by a foreign company, the conglomerate [...]
Investors eye prospects for 2017 tightening as Federal Reserve rate rise is seen as near certainty December 11, 2016 The US Federal Reserve is set to raise interest rates for the first time since December 2015 as it continues attempts to move away from a period of historically low interest rates, with investors set to focus on the prospects for further tightening over the course of 2017. The Federal Open Market Committee (FOMC) will [...]
An ONS blunder means the trade deficit is £6bn bigger than we realised December 7, 2016 A blunder by the Office for National Statistics (ONS) means the UK's trade deficit was £6bn bigger than we realised, it admitted last night. The so-called processing error by the ONS means the trade deficit was £17bn in the third quarter of the year, up from the £11bn it had originally mooted. Read more: The [...]
Autumn Statement 2016: Here’s how analysts have reacted to Philip Hammond’s speech November 23, 2016 Here's how analysts have reacted to chancellor Philip Hammond's first – and last – Autumn Statement. National Living Wage hike Guy Stallard, director at KPMG, said: Today’s announcement will see a significant number of workers aged 25 and above get a pay rise of 30p an hour to £7.50 from next April. This may seem [...]
Telecom firm Daisy takes aim at rival Alternative Networks November 20, 2016 Daisy – one of the UK’s telecoms challenger firms – is expected to make a play for its listed rival Alternative Networks this week. The bid, which could come as soon as tomorrow morning, is thought to be pitched at about 335p a share, just under 20 per cent up from Alternative Network’s Friday closing share [...]
City Moves for 18 November 2016 | Who’s switching jobs November 18, 2016 Lee Baron Lee Baron, a specialist in property management, has appointed Steven Room as head of residential development. With over 30 years’ experience in the property sector, Steven has worked directly with a range of housebuilder, developers, landlords, investors and property managers at firms such as Kinleigh Folkard & Haywards, County Estate Management, Haywards, The [...]
Investec’s asset management division earns its stripes, but banking profits fall November 17, 2016 Investec has reported a seven per cent fall in specialist banking profit, but improvements in asset management and wealth and investment divisions. The figures The Anglo-South African group reported a 0.2 per cent drop in ongoing operating profit to £314.5m, though this would have been 0.6 per cent growth on a currency neutral basis. The financial [...]
Large numbers of Britain’s care homes expect to go bust in the next three years November 14, 2016 Banks who have lent to care homes could fail to recoup their debts as large numbers are expected to go bust over the next three years. The double-whammy of local government budget cuts and the introduction of the national living wage has put the care home sector under significant pressure in recent years. Read more: Number of [...]
Inflation reaches two year high, as economists warn that the days of cheap food are over November 14, 2016 Inflation is set to reach a two-year high of 1.2 per cent this week, as consumers feel the effect of rising food costs and the weaker pound. Economists have predicted that inflation will continue to trend up over the next year, above the two per cent target set by the Bank of England. In fact, [...]