Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Poorest households could lose more than £5,000 in benefits after Brexit June 9, 2016 A vote to leave the European Union could result in some of the poorest households in the UK losing up to £5,542 a year in tax credits and welfare payments in a worst-case scenario. The National Institute of Economic and Social Research (Niesr) has calculated the likely impact of a vote to leave the EU on [...]
At the close: Brexit poll sends FTSE 100 down for the month and knocks sterling back May 31, 2016 A shock EU referendum poll killed the FTSE 100’s chances of stumbling to a fourth consecutive month of growth today, as the blue chip index failed to stay above the 6,241 gain line. The FTSE 100 closed the day down 0.6 per cent at 6,230.79 following a new ICM survey which put the Leave side four [...]
City Moves for 27 May 2016 | Who’s switching jobs May 27, 2016 Payne Hicks Beach Central London law firm Payne Hicks Beach has announced that Virginia Farquharson, a chartered accountant, has been appointed to the newly created director of management role, following the retirement of Peter Black, as managing partner. Virginia has enjoyed a long career at Payne Hicks Beach for over two decades, principally as director [...]
At the close: FTSE 100 shaping up for an impressive week May 25, 2016 We're just over half way through but UK markets seem to have a spring in their step this week as they closed even higher today on the back of "buying frezny". The FTSE 100 popped up another 0.7 per cent to 6,262.85 – the bluechip's highest close since the end of April. Banks once again led the [...]
National Audit Office investigation finds 3.2m people could have paid the wrong amount of tax May 25, 2016 More than three million taxpayers could have paid the wrong amount of tax last year after staff cuts at HM Revenue and Customs (HMRC) saw the number of tax investigations double and people were left waiting nearly an hour to speak to the taxman. An investigation from the National Audit Office (NAO) found that the number of [...]
UK dividend attraction falls as it lags behind global payout growth May 23, 2016 UK dividends fell by five per cent in the first quarter of 2016, lagging behind global growth, a new report out today has found. Since 2009, UK dividends have grown 44 per cent, behind the global average of 59 per cent, according to Henderson Global Investors. In the first quarter of this year, the report [...]
UK bank shares climb following Fed hike speculation May 19, 2016 Bulls piled into UK banks this morning as the Remain camp took a boost in the polls and the US Federal Reserve signalled it could hike interest rates next month. Equites across the board tumbled – a standard reaction to signals of tighter monetary policy – sending the FTSE 100 down by 1.5 per cent [...]
At the close: Markets up as even the weather can’t dent City spirits May 10, 2016 Traders clearly brought their umbrellas to work today as a London downpour and a spot of cloudy economic data was not enough to stop European markets from posting an impressive gain for the day. The FTSE 100 closed up 0.7 per cent at 6,156.65, the Cac 40 in France put on a modest 0.2 per [...]
Productivity might be up as hiring intentions down to lowest levels since 2014 May 9, 2016 A slump in firms' hiring intentions could indicate that the productivity puzzle is finally on the way to being solved, a report out today suggests. The study by professional services firm BDO discovered that, while companies' hiring intentions had dropped to their lowest levels since 2014, their levels of output and optimism are still strong, [...]
At the open: European markets tumble, but the pound prances on May 3, 2016 European markets opened down this morning as traders consolidated positions ahead of a glut of corporate results this week. The FTSE 100 shot up by 16 points as bank holiday weekend trades become official, but then immediately plunged to stand down 0.4 per cent at 6,214 within the first hour of trading. Over in Germany, [...]