China’s economic slowdown: IMF warns central banks not to raise interest rates September 3, 2015 The IMF has warned the world's biggest economies not to raise their interest rates in the near future, as China's economic struggle could have far-reaching consequences. In a pessimistic report released last night, the international lender said the risk of a global slowdown was increasing, and that in most cases economies are falling short [...]
Survey points to slowest s September 3, 2015 Growth in the UK’s service sector has slowed to its lowest rate in over two years, according to new survey data, sparking concerns over the health of the economy. Markit’s purchasing managers’ index fell to a 27-month low of 55.6 in August, nearer to the 50 level that indicates flat activity, according to figures released [...]
More than half UK companies’ stock is foreign investor owned September 3, 2015 Foreign investors own nearly £1 trillion-worth of British companies. ONS figures show that at the end of 2014 shares in listed, UK-based companies were worth £1.7 trillion, and 54 per cent of their stock was owned by offshore investors, largely based in North America and Europe. The figure was up nearly 10 percentage points from [...]
Market carnage: The funds that survived August’s global sell-off September 3, 2015 Traditional safe havens such as bond funds and gold were the best places to invest during August’s market carnage. Fears over slowing global growth and the potential for a wave of deflation to emanate out of China have pushed investors into areas which some commentators had recently been decrying as worthless investments – such [...]
Business sticks up for rise in zero-hour contracts September 3, 2015 Business groups have defended zero-hours contracts after official figures showed that the number of people on contracts with no guarantee of a minimum number of hours has increased by almost 20 per cent in the last year. According to the Office for National Statistics (ONS), the number of people on zero-hours contracts as their [...]
Living wage is set to boost women’s pay September 3, 2015 Three in every 10 female employees in the country are set to receive pay rises due to the new minimum wage for over-25s, according to a report out today by independent think-tank the Resolution Foundation. The measure, announced in July’s Budget, will initially be set at £7.20, 50p above the National Minimum Wage which [...]
Why zero hours contracts are good news for both workers and businesses September 2, 2015 One in 40 British workers is now employed on a zero hours contract. Depending on your point of view, this is either a blight on the state of modern Britain, a sign of capitalism in dysfunction, or it is the jewel in Britain’s flexible labour market crown and proof that one in 40 people who [...]
Drinkers pay net tax of £7bn: It’s time to stop pretending they’re a burden on taxpayers September 2, 2015 Teetotallers should raise a glass of sparkling water to Britain’s drinkers, who are subsidising the Treasury to the tune of £6.5bn a year according to a think tank. Revenues from alcohol taxes amount to over £10bn, according to official figures crunched by the Institute of Economic Affairs (IEA). The contribution of drinkers to [...]
Falling crude oil prices drop Canada into its first recession since 2009 September 2, 2015 Canada has officially entered a recession, after their economy shrank again in the second quarter of this year, by 0.5 per cent. Plunging oil prices were blamed for putting the country back into recession for the first time since the financial crisis, though the 0.5 per cent GDP contraction beat forecasts. Lower oil [...]
China markets make swift recovery from low open, indicating possibility of state-backed buying September 2, 2015 After a steep fall at the start of trading, Chinese markets made a rapid recovery, with the Shanghai Composite finishing just 0.2 per cent down, while the Shenzhen Composite ended just under two per cent lower. Meanwhile, the FTSE 100 opened slightly higher, rising 0.7 per cent to 6,100 points in early trading. [...]