EU immigrants contribute £463 per second to the UK economy April 2, 2015 European immigrants generate a whopping £463 per second in revenue for the exchequer, according to a new report commissioned by Rapid Formations. Once the costs of government spending on immigrants are taken into account, migrants generate a net benefit to the economy of £55 per second. The study comes as the General Election gets into [...]
400 jobs cut at EDF’s Hinkley nuclear power station project April 2, 2015 French power giant EDF has cut 400 contractors' jobs at the £16bn Hinkley Point C power station. In a statement, the company said because negotiations with potential investment partners have been delayed, it was not prepared to keep investing in the project – although it will continue to make preparations for the next phase of [...]
UK construction growth slows more than expected ahead of General Election but outlook is most positive in nine years April 2, 2015 The UK construction sector has disappointed, with official figures showing growth has slowed more than expected in the run-up to May's General Election. The latest data from Markit's purchasing managers index survey came in at 57.8 in March. Although that's still way above the 50 mark which denotes growth, it's significantly down from 60.1 in [...]
UK house prices: Sutton, Cambridge and Watford top the list of the UK’s property hotspots April 2, 2015 It's home to Channel 4 series PhoneShop. And, er, other things. Alright, so Sutton might not be the most glamorous place in the commuter belt – but it turns out that when it comes to the race up the housing ladder, the town is heavily in-demand. That's according to online estate agent Emoov, whose latest Property [...]
The future looks less sour for Tate & Lyle as profits are set to meet expectations April 2, 2015 After a string of profit warnings, Tate & Lyle's financial outlook seems to be stabilising at last. The figures For the full year to 31 March, Tate & Lyle estimates its pre-tax profit will be fall “modestly below” the range of £230m to £245m it predicted in September. The update is based on trading [...]
Marks & Spencer’s share price jumps as retailer finally breaks 14-quarter decline in general merchandise April 2, 2015 The numbers Marks and Spencer has recorded its first growth in general merchandise – the division heavily focused on clothing – in 14 quarters. The like for like growth of 0.7 per cent for the three months to March 28 brings to a close a two-and-a-half-year downwards spiral that has plagued chief executive Marc Bolland's tenure. [...]
From Aldermore to Autotrader, flotation fever’s back as IPO returns jump to 8.1 per cent April 1, 2015 The 10 UK stock market floats conducted this year have generated an average return of 8.1 per cent, according to figures released yesterday by financial services firm Deloitte. As of 31 March, these 10 initial public offerings (IPOs) – which include challenger bank Aldermore and Autotrader – had outperformed the FTSE 100. Their 8.1 per cent [...]
StanChart loses another top exec just weeks after board shake-up April 1, 2015 Group executive director Viswanathan Shankar resigned from his board role at Standard Chartered yesterday. The announcement of his departure comes a month after the bank revealed chief executive Peter Sands and chairman Sir John Peace were also on their way out. Shankar was also chief executive for Europe, the Middle East, Africa and the Americas, [...]
Prime residential rents in luxury London apartments hit their highest in three years April 1, 2015 London’s prime residential rents have risen to their highest level in three years thanks to the improving economy and record employment levels, research out yesterday claims. Although growth in the capital slowed to just 0.5 per cent in the three months to the end of December, rents rose 3.3 per cent year-on-year – the highest [...]
London labour market skills gap continues as red tape hinders overseas hiring April 1, 2015 London businesses are struggling to recruit people with the right skills and have called for cuts to red tape to make it easier to employ from abroad. Survey figures released today by the London Chambers of Commerce show that 54 per cent of firms looking to recruit over the past three months had difficulties, up [...]