Grexit: Euro falls as markets take a battering on Greek default fears May 26, 2015 The euro tumbled to a one-month low against the dollar this morning with investors unable to shake-off concerns surrounding Greece's ability to meet its upcoming loan repayments. European markets are also being pushed lower by the crisis, with the FTSE falling by 35 points to 6,996.36 at 11.30am. Greek officials are in Brussels today to [...]
What will happen if Greece defaults on its loan repayment to the IMF? May 26, 2015 Over the course of June, Greece must make four payments totalling €1.6bn (£1.1bn) to the IMF, starting with €300m (£212m) on 5 June. But whether it will meet all these obligations is far from certain, as the country is struggling to reach a deal with its European creditors to unlock crucial bailout funds. It managed [...]
The world’s ageing population is sending us into a deepening debt crisis May 26, 2015 The world's ageing population is causing a huge pile of debt to build up, the European chief executive of Goldman Sachs Asset Management has said. Andrew Wilson, head of Europe, Middle East and Africa (EMEA) for the investor, warned that it would be impossible to pay off national debts under the current system because of [...]
Ryanair share price jumps as profit soars following new customer service programme May 26, 2015 Ryanair's share price soared this morning as it celebrated its 30th birthday with a 66 per cent increase in net profit for the year – beating analysts' expectations. The figures The low-cost carrier reported net profit of €867m (£614m) in the 12 months ended March 31 from €523m at the same period last year. Revenue rose more steadily [...]
Business leaders slam ‘shameful’ Thomas Cook as pressure builds on former boss Harriet Green over £10.5m share award May 25, 2015 Thomas Cook is under pressure to review a £10.5m payout to former boss Harriet Green amid mounting criticism over its response to the deaths of two British children in Corfu. Green is set to collect seven million Thomas Cook shares – worth £1.47 each – under a pay deal struck in 2012. The timing [...]
David Cameron starts EU reform road show with Jean-Claude Juncker vow May 25, 2015 European Commission president Jean-Claude Juncker last night promised to help solve David Cameron’s EU dilemma, as the Prime Minister sets off on a month-long European tour to drum up support for his reform plan. Cameron began his charm offensive by hosting Juncker for a working dinner at his Chequers country estate. The Prime Minister laid [...]
Greek shares drop despite pledge to keep paying IMF May 25, 2015 Stocks in Athens sank three per cent yesterday despite the government reiterating that it would meet its intention to pay its creditors on time. The euro also sank to a one-month low against the dollar, trading at $1.097 last night. At the weekend one of the country’s ministers claimed that Greece would refuse to – [...]
End of mansion tax threat lifts top tier of London’s property market May 25, 2015 The higher end of the London housing market is seeing market volumes return following Labour’s defeat in the General Election, ending the threat of a proposed mansion tax on properties over £2m. The number of properties over £2m listed on Getagent.co.uk, an estate agent comparison site, more-than doubled in the weeks after the national vote, [...]
Financial hiring rebounds after election result as job vacancies in Glasgow and Edinburgh surge 21 per cent following independence vote May 25, 2015 Hiring in the City dipped in the run-up to the General Election, but has rebounded on the Conservatives’ victory, recruitment firm Venn Group said today. Advertised vacancies fell by 10 per cent in April, on fears that a Labour win could have led to higher taxes and more red tape. The surge in vacancies since [...]
Families hit the high street over bank holiday May 25, 2015 Britain’s high streets enjoyed a welcome boost over the bank holiday weekend as the warm weather and the start of the summer half term for many schools brought more people into stores. Footfall rose by 4.4 per cent over the weekend compared with the same time last year, overcoming the decline seen in recent months, [...]