Your next big payrise isn’t due until 2020 May 16, 2016 Workers banking on a bumper pay boost might find themselves disappointed, as a report out today has found that payrises have ground to an almost halt and could stay that way for the rest of the decade. A survey of more than 1,000 employers by the Chartered Institute of Personnel and Development (CIPD) discovered that pay [...]
Profits at UK firms are at their lowest level since before the financial crisis May 16, 2016 Profits at the UK’s largest companies slumped to their lowest level in a decade in 2015, with turmoil in the banking and commodities industries weighing heavily on corporate performance. New analysis from the Share Centre, released today, shows that the FTSE 350 – the UK’s largest 350 listed companies – posted combined pre-tax profits of £84bn last [...]
Inflation and wages set to falter this week as economy on pause until after EU referendum May 15, 2016 A stuttering labour market and a dip in inflation are set to be revealed later this week, in mounting signs that the UK economy is struggling for momentum. Figures to be released by the Office for National Statistics (ONS) are set to show inflation falling back towards zero, the number of people in work to [...]
Space tourism, driverless cars and drones set for Queen’s Speech lift off May 15, 2016 New plans for driverless cars on Britain's roads are to be announced in the Queen's speech this week, as are proposals for creating an ambitious UK-based space tourism industry by 2018 along with drone-friendly innovations. “Driverless cars and commercial space flight might seem like something science fiction, but the economic potential of the new technology is huge [...]
Mark Carney defends “outspoken” Bank of England Brexit comments as former City minister Andrea Leadsom launches fresh attack May 15, 2016 The Bank of England (BoE) governor Mark Carney has defended the central bank's outspoken comments on the economic risks of Britain leaving Europe. "Absolutely not" responded Carney when asked if the comments overstepped the mark by Andrew Marr on the BBC's Sunday morning show. "The issue is much wider than the issues the Bank of England [...]
The non-Brexit bits from the Bank of England and the International Monetary Fund May 13, 2016 You may have noticed, there have been some pretty stark warnings about what Brexit could do to the UK economy this week. Both the International Monetary Fund (IMF) and the Bank of England waded into the debate arguing that a vote to leave the EU could trigger a recession. Cue outrage from Leave campaigners. But [...]
Lord Lamont hits out at both Mark Carney and Christine Lagarde in just two days May 13, 2016 Lord Lamont has slammed what he sees as the "avalanche of institutional propaganda" which has been flung about in the EU referendum debate this week. In his second blistering attack this week, the former chancellor who served in the governments of Margaret Thatcher and John Major, has taken aim at the International Monetary Fund (IMF) for its [...]
IMF Brexit analysis will be published just days before the EU referendum May 13, 2016 The International Monetary Fund (IMF) will publish a full assessment of how Brexit will affect the UK economy less than one week before Brits go to the polls on 23 June. While issuing a stark warning that a vote to leave the EU could trigger a recession – the second in two days after Mark Carney's [...]
Eurozone GDP misses expectations May 13, 2016 Eurozone gross domestic product undershot expectations in the first quarter, data released today has shown. European statistics agency Eurostat said the single currency union's economy grew 0.5 per cent in the first three months of 2016, representing a downward revision from its initial estimate of 0.6 per cent. Read more: Germany records strongest GDP growth for two [...]
IMF head Christine Lagarde backs up Mark Carney in battle over a Brexit recession May 13, 2016 Brexit could push the UK into recession, hit wages, lead to higher prices and shatter London's status as the financial capital of the world, Christine Lagarde, head of International Monetary Fund (IMF) has said today, in the second high-profile Brexit warning in as many days. With less than six weeks to go until the EU referendum, – described [...]