Record pension deficits could balloon by a further £30bn after interest rate cut August 4, 2016 Today’s interest rate cut could see the deficits of beleaguered pension schemes rise by another £30bn according to experts. "The Bank of England’s decision today is painful for pension schemes," said Charles Cowling of the JLT Employer Benefit Index, which announced record deficits earlier this week. Read more: Pension deficit headache for British companies Matt Saunders of [...]
Pets at Home share price jumps after being bolstered by “Groom Room” August 4, 2016 Brexit may have the undermined of public confidence in the economy, led to market volatility and created political uncertainty, but the Pets at Home first quarter results showed that it doesn't seem to have affected one of the British people's most important wants: the desire to pamper our pooches. The figures Group revenue increased nearly nine per cent from £224m to £244m. [...]
Game Digital expects revenues to be down but earnings on track with expectations August 3, 2016 Retailer Game Digital was unable to claw back the ground lost in the first half of the year according to a pre-close annual trading announcement released today. The update revealed that revenues are expected to be £815m for the 12 months to July 2016, down from £867m in the previous year. And while Gross Transactional [...]
July traffic numbers set a world record for Ryanair August 3, 2016 Ryanair said it had broken the world record for the most passengers carried by an airline during one month. “July was a record month for Ryanair as our traffic grew by 12% to 11.3m customers and we became the first airline in the world to carry over 11m international passengers in one month, with a [...]
Aggreko share price dives after “difficult” first half of 2016 but maintains full year forecasts August 3, 2016 Shares in temporary power provider Aggreko dived by 15 per cent earlier today after it announced that profits for the first six months of 2016 were down nearly a third on the previous year. The figures Although revenues were down 12 per cent at £685m, trading margin plummeted from 15 per cent to 11 per cent (pre-exceptionals). Profit before [...]
Men retiring this year can expect incomes that are a third greater than women August 3, 2016 The gender gap in retirement incomes has widened in 2016 despite women's incomes reaching record highs. Average annual retirement income for men is £19,850 – a third higher than women's – according to research by insurance giant Prudential. The average retirement income of £14,450 for women has grown steadily since the survey began in 2008. Although the gender income gap has almost [...]
Regulator urges trustees to exercise caution amid spiralling pension deficits August 2, 2016 British companies are facing the prospect of significant cash top-ups on defined benefit pensions schemes after more evidence was released today that deficits are at record highs. Pension deficits for Britain's 350 largest listed companies increased from £119bn to £139bn during the month of July alone according to data prepared by pension specialist Mercer. The survey also [...]
City job market remains stagnant after Brexit according to Adzuna August 2, 2016 Declines in advertised job vacancies means that City job hunters should be prepared to “fight” in a market that has been “shaken” by Brexit. Legal sector vacancies advertised through job search website Adzuna were down by 23 per cent compared to the same time last year and the number of finance sector jobs advertised decreased by 14 per cent. “Brexit has [...]
First-time buyers are now expecting help from more than just their parents August 1, 2016 Many first-time home buyers are now skipping a generation in order to fund their purchases and could be “putting the family silver at risk”. Grandparents are to help fund one in six purchases of a first home, data compiled by Simpson Millar solicitors suggests. The concern from solicitors is that with a third of couples not [...]
Construction sector leader calls on government to do more to amid spiralling material prices August 1, 2016 The construction sector is being battered by high material prices, a weak pound, private sector uncertainty and a lack of public housing investment, the Federation of Master Builders (FMB) said today. In the week that sees two of the largest building suppliers release their results, the FMB said that two-thirds of bosses were anticipating further rises in material costs [...]
