Sterling’s time to shine July 27, 2010 STERLING might not have become the darling of the FX markets but it has certainly shed its image as their whipping boy. In what has been described as an ugly contest between the G4 currencies (US dollar, sterling, euro and yen), the pound is looking the rosiest. Last week’s GDP figures, which showed stunning growth [...]
Government cuts private pension costs July 8, 2010 THE government yesterday outlined plans that will shave billions of pounds off the private sector’s pension bill, by reducing the amount that pension payments must rise in line with inflation. In future, payments for those on final salary schemes will rise in line with inflation as measured by the consumer price index (CPI), as opposed [...]
Business facing skills shortage May 16, 2010 EMPLOYERS are becoming increasingly concerned over a shortfall in skilled job candidates, despite the legacy of a recession that left large numbers of highly-qualified university graduates unable to get onto the career ladder. Over half of employers expect to have difficulties in filling posts requiring graduate or higher level skills in the coming years, according [...]
Factory orders steady in April April 22, 2010 Factory orders remained weak in April, but firms were their most optimistic in two years about raising output in the coming months, the CBI’s monthly Industrial Trends survey showed yesterday. The CBI survey’s total order book balance improved only slightly this month to -36 from -37 in March, below expectations for a reading of -34. [...]
State pension age set to rise June 24, 2010 THE state pension age could be 70 by the middle of the century, after the government announced a shake-up designed to defuse Britain’s ticking pensions time bomb. Currently, the state pension age is set to increase from 65 to 66 in 2026. It will then continue to rise to 67 in 2036 and 68 in [...]
State pension age set to rise June 24, 2010 THE state pension age could be 70 by the middle of the century, after the government announced a shake-up designed to defuse Britain’s ticking pensions time bomb. Currently, the state pension age is set to increase from 65 to 66 in 2026. It will then continue to rise to 67 in 2036 and 68 in [...]
City warns on dangers of a fiscal squeeze June 16, 2010 BUSINESS leaders have sent a stark warning to chancellor George Osborne ahead of the Budget next week, arguing that substantial tax increases would threaten to derail the fragile economic recovery. The Institute of Directors yesterday called on the government to set out credible, hard-hitting plans to cut the deficit quicker and further than the financial [...]
Osborne: UK is back open for business May 20, 2010 GEORGE Osborne last night said Britain was “once again open for business” as he pledged to draw a line under strained relations between captains of industry and the previous Labour government. In his inaugural speech to employers’ group the CBI, the chancellor said his “guiding principle” would be to support a private sector recovery by [...]
Retail sales up again in April but pace stalls April 27, 2010 BRITISH retail sales volumes grew for a third straight month in April, albeit at a slightly slower pace than expected, and retailers are confident of an acceleration next month, a survey showed yesterday. But a sustained recovery in consumer spending looks threatened by signs the housing market may be running out of steam and the [...]
The world’s centre of gravity is moving East July 25, 2010 THE Prime Minister, who leads a delegation of senior ministers including George Osborne, William Hague and Vince Cable to India this week, is right to commit his government to building a “special partnership” with Delhi. The world’s centre of gravity is moving East. Washington is shifting its attention from its post WWII Atlantic allies to [...]