Eurozone wage growth rebounds as manufacturing and industry post strong gains – but Italian wages shrink December 19, 2016 Wage growth across Europe rebounded in the third quarter, in a sign the Eurozone economy may finally be responding to the European Central Bank’s (ECB) ultra-low interest rates. The cost of labour in the Eurozone rose by 1.5 per cent, while workers’ pay in the broader EU was driven higher – by 1.9 per cent [...]
Government pledges extra £32m for estate regeneration December 8, 2016 The government has pledged to spend an additional £32m on regenerating the country's dilapidated housing estates. The scheme, launched by the department for communities and local government, will involve councils, developers and housing associations bidding for a share of the cash. Read more: This is how far house prices have fallen in Chelsea this year Most [...]
Keystone XL still faces obstacles even with Trump’s approval January 26, 2017 President Donald Trump moved to fulfill one of his campaign promises on Tuesday, signing an executive order to revive the Keystone XL and Dakota Access Pipelines. The former had been rejected outright by the Obama administration while the latter had been given an indefinite delay. The industry hailed the executive order, but just because President [...]
Blame restrictions on the supply of land for new homes for rising wealth inequality February 22, 2017 Official data released last week on house price increases in 2016, which among other things showed the Shetland Isles as the part of the UK which posted the biggest jump in prices last year (at 26 per cent), generated a lot of interest. Given that housing represents by far the most important component of wealth [...]
The UK’s services sector grew unexpectedly fast last month – pushing up GDP expectations December 5, 2016 Growth in the UK's three main sectors suggests the economy will 0.5 per cent in the fourth quarter, against Bank of England expectations of 0.4 per cent, new figures have suggested. The purchasing managers' index for the services sector, published today by Markit, grew unexpectedly fast in November, rising to 55.2 from 54.5 last month – [...]
Back in business: Housebuilding jumps as Brexit fears fade October 4, 2016 Construction activity in the UK has grown for the first time in five months as builders regain their mojo in the wake of the EU referendum. The closely-watched purchasing managers' index (PMI) for the sector came in at 52.3 for the month of September, comfortably above the 50 score which represents stagnation. It was also [...]
Service sector growth beats expectations in the third quarter – but inflation is about to bite November 3, 2016 Another day, another figure showing the economy was in pretty good nick in October, after output in the UK's largest sector beat expectations. Markit/CIPS' purchasing managers' index (PMI) for the services sector rose to 54.5 in October, up from 52.6 in September and way higher than the 52.4 economists expected. Any figure above 50 denotes [...]
Caterpillar chief executive Doug Oberhelman resigns after 41 years at construction giant October 17, 2016 The chief executive and chairman of US construction giant Caterpillar, Doug Oberhelman, will retire in January, the company announced today. Oberhelman, who has worked at the heavy machinery group for 41 years and became chief exec in 2010, will be succeeded by Jim Umpleby, who has worked at the Illinois-based firm for 35 years. Umpleby will [...]
Taylor Wimpey lays strong foundation ahead of bumpy year with earnings at the upper end of expectations January 11, 2017 Taylor Wimpey says it expects full-year profits at the “upper end of market consensus”, as the housebuilder remains confident of its ability to continue dividend payments – although its order book for 2017 weakened from last year. The figures Earnings are expected at the top end of the £706.4m to £755m range Taylor Wimpey has [...]
Kier Group drives ahead with £140m Highways England maintenance contract win December 20, 2016 FTSE 250-listed construction and engineering firm Kier Group has won a £140m contract to repair and maintain services on a section of the Highways England network. The 15-year contract will commence on 1 April next year and covers a section of road called Area 13, which is located in Cumbria and North Lancashire. Kier will provide [...]