German growth slows as GDP edges up 0.3 per cent in third quarter November 13, 2015 The German economy grew just 0.3 per cent in the third quarter, an estimate published today showed – down from 0.4 per cent in the previous quarter. Although the figure met economists' expectations, it was nonetheless disappointing for those hoping for a stronger performance. Destatis, Germany's official statistics body, said that while final consumption expenditure [...]
London landlord bars the 800 campaigners that got his Duke of Hamilton pub in Hampstead listed November 12, 2015 A London landlord has barred 800 local campaigners from his pub after they managed to get his property listed, making it harder for him to sell. Steve Coxshall, a former stockbroker that also managed the boyband Blue, said the campaigners, the Hampstead Neighbourhood Forum, were “hypocrites in cardigans”. Camden Council decided to the list the three-century-old [...]
Lack of building to blame for high house prices, says Bank of England’s Andy Haldane November 12, 2015 The UK housing market is “broken” the Bank of England’s chief economist said today, arguing that not enough homes were being built, in an unusually stark critique of government policy. Andy Haldane told an audience at the Trades Union Congress that Britain needed to build around 200,000 homes a year and its failure to do [...]
US budget deficit shoots up in October November 12, 2015 The US federal government budget deficit hit $137bn (£90bn) in October, a 12 per cent increase on the same month last year, the Treasury Department said today. Total receipts edged down one per cent to $211bn while spending was up four per cent on the year to $348bn. The timings of certain payments were to [...]
Federal Reserve’s William Dudley leaning toward interest rate hike as Charles Evans stays dovish November 12, 2015 A series of speeches from US rate-setters has put the US marginally closer toward an interest rate hike. Federal Reserve official Charles Evans said the central bank is close to reaching its employment goal, but he is concerned inflation may fail to reach its two per cent target. "I am far less confident about reaching [...]
Millions of jobs at risk of automation over the coming decades, Bank of England’s Andy Haldane tells trade union November 12, 2015 The Bank of England's chief economist Andy Haldane believes that millions of jobs will come under threat from automation over the coming decades, fuelling unemployment and inequality. While he believes that up until now "technology has enriched labour, not immiserated it", he believes the next wave of technological advancement could be different. “By itself, a [...]
Almost a third of London employers are struggling with productivity levels, compared to just less than a quarter of employers in the UK as a whole November 12, 2015 Nearly a third (32 per cent) of London employers think that productivity is a problem for their business, according to figures shown exclusively to Morning Wire by Group Risk Development (GRiD). By comparison, in a report released earlier by GRiD, just 23 per cent of employers across the UK as a whole said that productivity [...]
US JOLTS: Labour market keeps up momentum in September as job openings rise to 5.5m November 12, 2015 The US jobs market had a robust September. The number of job vacancies in the US edged up to 5.5m from 5.4 in August, according to Jobs Openings and Labour Turnover report publishhed by the Bureau of Labor Statistics today. The reports showed that the total number of hires was 5m, also little changed from August. The [...]
Just less than half of financial professionals think bosses’ business decisions are based on gut feelings, as many feel undervalued by the organisations they work in November 12, 2015 Are the spreadsheets scattered across your boss's desk just an illusion? A report out today by the Association of Chartered Certified Accountants (ACCA) and professional services firm KPMG has found that almost 40 per cent financial professionals believe that most business decisions are made primarily on gut feeling rather than cold, hard facts. In the [...]
HMRC plans to shut local tax offices and replace them with 13 new regional hubs November 12, 2015 HM Revenue and Customs (HMRC) has today announced that it is planning to close 137 of its local tax offices, replacing them with 13 new regional tax offices. The regional centres, the first one of which could be launched as early as 2016 with the rest opening between 2017 and 2021, will generally be in [...]