BBA: Mortgage approvals leap as buyers race interest rate hike October 26, 2015 The number of mortgage approvals leaped 24 per cent in the year to September, figures published this morning showed, suggesting buyers are racing to secure mortgages before interest rates are hiked. The figures, by the British Bankers' Association, showed gross mortgage borrowing in September rose to £12.1bn, 17 per cent higher than a year ago. [...]
Got a cold? Sick employees are costing UK businesses £4.2bn each year October 26, 2015 Sick employees who take more than six months off work cost the UK private sector £4.17bn each year, the Centre for Economics and Business Research (CEBR) reveals today. The cost to businesses has risen by a third in two years, from £3.13bn in 2012. That's largely thanks to a rise in statutory sick pay (eight per cent) and rising employee numbers (six per cent), CEBR explained. But around a quarter [...]
What Volkswagen emissions cheating scandal? German business confidence stays strong in October October 26, 2015 Volkswagen bosses may be busily sackcloth-and-ashing, but here's evidence the rest of the business world remains fairly unconcerned about the company's emissions cheating scandal: figures published this morning suggested that while German business confidence has taken a dip in the past month, it's still pretty resilient. The Ifo Business Climate Index, which measures confidence among [...]
UK house prices at their most affordable in 13 years… but not for Londoners October 26, 2015 HOMES in England and Wales are at their most affordable in 13 years, new research from Hamptons International claims, as households benefit from rising incomes and lower cost of goods. The estate agent’s latest Ability to Buy index increased by two per cent year-on-year in the second quarter to bring it to its highest level [...]
Free market think tank the Adam Smith Institute calls for controversial welfare overhaul October 26, 2015 The government should replace all major welfare payments with “negative income tax”, an eyebrow-raising report from free market campaign group the Adam Smith Institute (ASI) has suggested. The call to ditch tax credits, jobseeker’s allowance, and the universal credit system for a new system comes as the government has taken fire for changes to tax [...]
Professional and financial recruiting up eight per cent in 2015 as salaries jump too – APSCo October 26, 2015 Good news for job hunters: professional and financial recruiting is up eight per cent this year, with average salaries increasing by 4.6 per cent since 2014. The number of finance and accounting roles has risen 17 per cent from last year, according to data from the Association of Professional Staffing Companies (APSCo). This is in [...]
Low oil prices mean Saudi Arabia could run out of money in five years October 25, 2015 Saudi Arabia could run out of cash in the next five years if oil prices stay as low as $50 a barrel. The painful effects of the tumbling oil price are starting to be felt in one of the world’s major oil producers, which is also the leader of Opec, Saudi Arabia, along with Oman and [...]
A lack of lorry drivers threatens Christmas 2015 online deliveries October 25, 2015 Christmas is under threat from a lack of lorry drivers. Shops could be left with empty shelves while online deliveries face delays due to a shortage of tens of thousands of lorry drivers, it has been warned. "We are short of between 45,000 and 50,000 drivers and the situation is getting worse," chief executive of the Road Haulage Association (RHA) [...]
UK GDP Q3 2015: Economists say growth could slip to 0.5pc and manufacturing and construction are to blame for slowdown October 25, 2015 Growth figures out this week are expected to show that the UK economy is slowing down due to weaker construction and manufacturing output. Economists say gross domestic product (GDP) increased by either 0.5 per cent or 0.6 per cent in the third quarter, compared to 0.7 per cent in the second quarter. The first quarter [...]
Bank of England’s Mark Carney on interest rate rise: 4pc of mortgage holders vulnerable to hike October 25, 2015 Bank of England governor Mark Carney has said Britain should be prepared for interest rates to be hiked, but it was by no means certain that the historically low rate would be raised. He warned that there were households at risk due to large amounts of debt – as many as four per cent of mortgage [...]