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....KLM managers, on the other hand, think that their French colleagues only worry about keeping jobs at Air France. The Dutch managers don’t trust the French economy, and see Air France as a “time bomb”. ... [Read full article on Guardian ]
Thursday 20th of July 2017 11:07:14 AM
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.... Consumer spending held up and unsecured borrowing rose sharply. That is why the economy took longer to slow than many, myself included, expected. ... [Read full article on Guardian ]
Thursday 20th of July 2017 02:20:35 PM
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.... The thing about gradualism is that it opens up new possibilities. If the government turns parts of my report into legislation – and given Brexit this is a big “if” – the Labour movement will face a choice: welcome significant but gradual change while arguing for more in the future, or reject reform on the grounds that only a transformation of our economy and our system of industrial relations can deliver meaningful progress. ... [Read full article on Guardian ]
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.... “We respect the importance of regulatory scrutiny, and we continue in our commitment to work constructively with authorities, as we have done since this process began. In light of the transaction’s benefits to the UK creative economy, we would urge the secretary of state to complete the regulatory process expeditiously. ... [Read full article on Guardian ]
Thursday 20th of July 2017 11:26:27 AM
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Latest Finance News related to Economy

The cost of living crisis is down to Brexit. The chickens are coming home to roost | David Blanchflower image
.... Consumer spending held up and unsecured borrowing rose sharply. That is why the economy took longer to slow than many, myself included, expected. ...
Culture secretary keeps Rupert Murdoch waiting over Sky deal image
Source : Guardian [Read Article] Thursday 20th of July 2017 11:26:27 AM
.... “We respect the importance of regulatory scrutiny, and we continue in our commitment to work constructively with authorities, as we have done since this process began. In light of the transaction’s benefits to the UK creative economy, we would urge the secretary of state to complete the regulatory process expeditiously. ...
French-Dutch culture clash revealed in leaked Air France-KLM report image
Source : Guardian [Read Article] Thursday 20th of July 2017 11:07:14 AM
....KLM managers, on the other hand, think that their French colleagues only worry about keeping jobs at Air France. The Dutch managers don’t trust the French economy, and see Air France as a “time bomb”. ...
Why my ‘gig economy’ review favours gradual change over quick fixes | Mathew Taylor image
.... The thing about gradualism is that it opens up new possibilities. If the government turns parts of my report into legislation – and given Brexit this is a big “if” – the Labour movement will face a choice: welcome significant but gradual change while arguing for more in the future, or reject reform on the grounds that only a transformation of our economy and our system of industrial relations can deliver meaningful progress. ...
The coal truth: how a major energy source lost its power in Britain image
Source : Guardian [Read Article] Wednesday 19th of July 2017 04:16:25 PM
.... In 2017 so far, there have been more than 300 hours without coal. The fortunes of coal, once a bedrock of the economy, contrast sharply with atomic power and the growth of renewables. ...
State pension age to increase seven years earlier than planned image
Source : Guardian [Read Article] Wednesday 19th of July 2017 01:44:22 PM
....The SNP suggested May had held back from announcing the rise in the pensions age for some people until after the election, branding it “Tory trickery at its worst”. “It’s clear why the UK government held back until after the election and did not publish this on the legal date it was supposed to on 7 May, as this would have undoubtedly lost the Tory party even more seats than they did,” said Kirsty Blackman, the SNP’s economy spokeswoman. ...
Top firms must publish figures on ethnic diversity, says report image
Source : Guardian [Read Article] Wednesday 19th of July 2017 05:01:11 AM
....5% of the UK population are BAME but they hold just 6% of top management jobs. A government-backed report by businesswoman Ruby McGregor-Smith, published in February, said that £24bn could be added to to UK economy each year if minorities were able to progress through their careers at the same rate as their white counterparts. ...
Incomes in south-east of England 'are 25% higher than in West Midlands' image
....A Treasury spokesman said that recent figures from the Office for National Statistics showed inequality in disposable income was lower than it had been for three decades, and the UK had the fifth lowest persistent poverty rates of the 28 countries in the EU. “We are building an economy that works for everyone by sharing prosperity and opportunity throughout the UK so nobody is held back because of where they come from”, the Treasury said. ...
REVEALED: The surprise area in Britain seeing bumper house price rises of 7.5% image
...."Today we see it trailing behind the rest of the country, bar the North East, with just three per cent growth. "Although this may come as welcome news to those looking to buy in the capital, it does show the extreme effect the Government’s move has had on London’s economy, and on the rental market. ...
How could we cope if capitalism failed? Ask 26 Greek factory workers | Aditya Chakrabortty image
.... These are people who have been failed by capitalism; now they reject capitalism itself as a failure. Another old-timer, Makis Anagnostou, talks of how their factory is proof “that an alternative economy is feasible”. ...
UK growth will slow as consumer spending is squeezed, forecasts PwC image
Source : Guardian [Read Article] Tuesday 18th of July 2017 05:01:11 AM
. Record levels of employment will fail to prevent the economy’s growth rate slowing this year and next during a period when consumer spending will be squeezed by rising inflation and falling living standards, the consultancy firm PwC has predicted. ...
If home ownership continues to shrink, the retirement system is in trouble | Greg Jericho image
....And the data shows that houses owned outright are the type more likely to have a surplus of bedrooms:. This is all a heady mix for the Reserve Bank as it attempts to fine-tune the economy though interest rate movements. ...
Standards body unveils plan to crack down on sexist advertisements image
Source : Guardian [Read Article] Monday 17th of July 2017 11:01:04 PM
....Guy Parker, the chief executive of the ASA, said: “Portrayals which reinforce outdated and stereotypical views on gender roles in society can play their part in driving unfair outcomes for people. “While advertising is only one of many factors that contribute to unequal gender outcomes, tougher advertising standards can play an important role in tackling inequalities and improving outcomes for individuals, the economy and society as a whole. ...
UK inflation figures will shine light on impact of pound's Brexit slide image
....That has taken the annual inflation rate to its highest level in four years and close to the level where Mark Carney, the governor of the Bank of England, would be forced to write a letter to the chancellor, Philip Hammond, explaining why Threadneedle Street had failed to keep the annual increase in the cost of living to within one percentage point of the government’s 2% target. Consumer spending helped keep the economy expanding strongly in the six months after the Brexit vote, but the growth rate slipped to 0. ...
HS2 supporters boast of benefits – but costs keep going off the rails | Nils Pratley image
. ‘HS2 was always designed to be much more than just a high-speed railway and today we can see the opportunities it brings right around the country – spreading prosperity, acting as a catalyst for investment and rebalancing our economy 10 years before the railway even opens,” said David Higgins, chairman of the high-speed railway, as the first construction contracts were awarded on Monday. ...
Are these the cheapest countries for expat living? image
Source : Daily Express [Read Article] Monday 17th of July 2017 04:00:00 PM
.... . The world’s fourth-largest economy also offers great affordability for expats looking to make their finances go as far as possible. ...
UK business confidence at lowest point for six years, say forecasters image
....”. He added: “Business optimism about future prospects has sunk to its lowest for nearly six years, adding to a growing body of data which points to a slowing economy. ...
UK housing market shrugs off concerns of Brexit slowdown image
Source : Guardian [Read Article] Sunday 16th of July 2017 11:01:34 PM
. The UK housing market is shrugging off concerns in the wider economy following the Brexit vote, compounding problems for many first-time buyers still wrestling with the strongest year-on-year price rises in the market. ...
Lloyd's says cyber-attack could cost $120bn, same as Hurricane Katrina image
. Lloyd’s of London has warned that a serious cyber-attack could cost the global economy more than $120bn (£92bn) – as much as catastrophic natural disasters such as Hurricanes Katrina and Sandy. ...
UK 'sleepwalking' into food insecurity after Brexit, academics say image
Source : Guardian [Read Article] Sunday 16th of July 2017 11:01:34 PM
....”. After 50 years of generally stable supplies and prices, the authors say, the UK could return to the sort of volatility last seen in the 1930s and earlier, calling the scale of the challenge “unprecedented for an advanced economy outside of wartime”. ...
The Guardian view on the 1%: all gain, no pain | Editorial image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:59:34 PM
....It’s not that we are richer as a nation. The economy is about £300bn smaller than would be expected if the crash had not happened. ...
Low-paid should receive inflation-only rises, say business leaders image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:13:15 PM
.... Spending on essential items and discretionary spending fell compared with the previous quarter. In further evidence that the experience economy is feeling the impact of the increased mood of consumer caution, the report said spending on extras such as eating out and the cinema fell back for the second quarter in a row – “in a sign that the recent upward trend in leisure spending has also been hit”. ...
Workers’ rights need more protection in the gig economy | Letters image
Source : Guardian [Read Article] Sunday 16th of July 2017 04:37:34 PM
. Rafael Behr’s commentary on Matthew Taylor’s “gig economy” report is too kind by half (The gig economy can be exploitative – but there is no easy path to Good Work, 12 July). ...
Election euphoria won’t last if Labour doesn’t foil Brexit folly image
Source : Guardian [Read Article] Sunday 16th of July 2017 05:59:13 AM
....We need countervailing action soon. Every day brings evidence that the mere prospect of Brexit is damaging a British economy that is in enough trouble already. ...
Gig economy: Financial advice for the self-employed  image
Source : Daily Express [Read Article] Sunday 16th of July 2017 12:01:00 AM
. Almost five million now work as freelancers, entrepreneurs, contractors or in the so-called “gig economy” but they often lack basic workplace rights or risk poverty in old age by failing to save into a pension. ...
Dublin is streets ahead of EU rivals as City firms plan for Brexit relocation image
....Any boost to the financial services industry will be welcomed in a city still recovering from the banking crisis and property price crash a decade ago. The collapse of the economy went deeper than the UK, with house prices slashed by up to 70% and taxpayers left on the hook for toxic banking debt guaranteed by the state, which in turn was bailed out by the International Monetary Fund and the European Central Bank. ...
Top 1% of households in UK fully recovered from financial crisis image
Source : Guardian [Read Article] Friday 14th of July 2017 11:01:36 PM
....5% of national income. The thinktank – which focuses on those on middle and lower incomes – said Theresa May had been right when she entered No 10 to emphasise the need for the economy to work for the young and those on low pay. ...
The Guardian view on Brexit policy: time for Britain to get real | Editorial image
....Summer holidays are not an ideal time to face realities, but the realities must be faced, and faced now – and be explained and debated. Before parliament returns in the autumn, Britain must try to clarify the future relationship it seeks, not just in terms of sovereignty, law and alliances, but in terms of the economy, jobs and standards of living too. ...
Retirement age MUST rise or young families pay the price, pension committee head warns image
....He revealed he has already reached out to Rachel Reeves, who has been elected as the new chair of the Business, Energy and Industrial Strategy Select Committee. The two groups could further scrutinise Britain's growing gig economy and the rights of employees in the sector. ...
British companies must have voices heard on Brexit, says MP image
Source : Guardian [Read Article] Friday 14th of July 2017 05:26:11 PM
....She said on Friday she would like to broaden the scope of the role, telling the BBC she wants to look “at the wider Treasury remit”. “We want to look at the management of the economy, public spending decisions. ...
Ofcom made serious errors over Murdoch Sky bid, say high-profile MPs image
Source : Guardian [Read Article] Friday 14th of July 2017 03:31:40 PM
....“21CF remains committed to continuing to engage constructively with the regulatory process. Our investment in Sky underscores our profound confidence in the future of the UK as a global hub for creativity, and in light of the transaction’s benefits to the UK creative economy we would welcome a timely decision. ...
Zero-hours workers won’t be reassured by the Taylor review – I’ve been one | Poppy Noor image
.... How, I thought, can you be rejected for a job if you’re self-employed?. This is the type of one-sided flexibility that Matthew Taylor points to in his review on the gig economy. ...
Pay-per-mile road tax plan wins £250,000 Wolfson economics prize image
Source : Guardian [Read Article] Thursday 13th of July 2017 09:00:17 PM
....The scheme would reward users of lighter, cleaner vehicles and ensure a steady stream of revenue to the exchequer (pdf), with the £27bn received annually from fuel duty now jeopardised by electric vehicles. Gergely Raccuja, 27, said that allocating 20% of funds directly for road repair would raise enough money to eradicate the UK’s potholes in five years, persuading the judges of the 2017 Wolfson Economics Prize, which asked for proposals for funding better, safer roads in a fair way while benefitting the economy and the environment. ...
The Tories have failed to fix the roof – and now storms are brewing | Larry Elliott image
....So does the impact of Brexit. While the OBR’s report was careful to make no assessment of the cost of leaving the EU, it did stress how sensitive the public finances were to even quite modest changes in the economy’s long-term economic performance. ...
Uber’s practices are morally unacceptable – but a boycott won’t help | Hannah Lownsbrough image
.... With Uber’s current licence to operate in London expiring in September, this is a crucial window of opportunity to push for change. Politicians are right to condemn companies such as Uber, but not using the app will not solve the problems posed by the gig economy. ...
UK public finances face twin threat from Brexit and downturn, says OBR image
Source : Guardian [Read Article] Thursday 13th of July 2017 12:07:53 PM
.... With spending growth left unchanged, the debt-to-GDP ratio would end up around 50 percentage points higher, the OBR added. The campaign group Open Britain said the OBR’s report showed “a hard Brexit poses a real threat to our economy. ...
Carillion has 'no future without rights issue of at least £500m' image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:20:18 AM
....Sam Cullen, an analyst at investment bank Jefferies, said: “Realistically, we see no future for Carillion without a rights issue of at least £500m as we believe the group will find it increasingly difficult to win support services work with the balance sheet in its current state”. The company is an intrinsic part of the UK economy, being one of the major contractors to the Highways Agency and to Network Rail, and is essentially set up around three businesses. ...
Chancellor needs to find an extra £33bn a year to end austerity, says IFS image
....4% of GDP by 2021. To meet a target of balancing the budget in the middle of the next decade, the IFS warned that the Treasury would need to return to its spending squeeze if the economy, as expected, only grows modestly in the aftermath of leaving the European Union, limiting the growth of tax receipts. ...
Key Bank of England policymaker 'not ready' for interest rate rise image
Source : Guardian [Read Article] Wednesday 12th of July 2017 05:45:21 PM
. The Bank of England should resist increasing interest rates while the direction of the economy remains unclear, according to one of the central bank’s senior policymakers, an announcement that reduces the chances of a rate hike this year. ...
UK interest rates aren't about to rise as real pay slides | Larry Elliott image
.... When the jobless total falls, workers can be more choosy about who they work for and employers have to pay more. The Bank’s model of the economy assumes that wage inflation will take off if unemployment falls below a certain level. ...
UK pay squeeze intensifies as real wages continue to fall image
Source : Guardian [Read Article] Wednesday 12th of July 2017 10:35:05 AM
....”. Damian Hinds, the employment minister, focused on the strong employment figures, describing them as “another reminder that our strong economy is giving record numbers of people the chance to find and stay in work”. ...
Threats, bullying, lawsuits: tobacco industry's dirty war for the African market image
....BAT in Uganda asserts in another document that the government’s Tobacco Control Act is “inconsistent with and in contravention of the constitution”. The Guardian has also seen letters, including three by BAT, sent to the governments of Uganda, Namibia, Togo, Gabon, Democratic Republic of Congo, Ethiopia and Burkina Faso revealing the intimidatory tactics that tobacco companies are using, accusing governments of breaching their own laws and international trade agreements and warning of damage to the economy. ...
Coca-Cola to increase amount of recycled plastic in its bottles image
Source : Guardian [Read Article] Tuesday 11th of July 2017 09:09:29 PM
....”. “Doubling the amount of recycled material in all of our plastic bottles is a significant investment and sends a clear signal we want to play a positive role in supporting the circular economy here in Great Britain. ...
Pearson picks up $1bn from Penguin – but no treat for investors | Nils Pratley image
.... The deficit in the pension fund was £587m at the last count and those pensioners deserve to hear even an outline of a recovery plan as soon as possible. The Resolution Foundation is right: the most radical idea in the Taylor review had little to do with the “gig” economy. ...
Bar and restaurant chains scale back UK expansion as costs rise image
Source : Guardian [Read Article] Tuesday 11th of July 2017 04:52:05 PM
....“There is a real reluctance to increase prices to the consumer for fear of damaging fragile discretionary spend,” Nicholls told the Food and Drink Federation convention at the British Museum in London. “There is a risk that additional costs could hit at a time of great instability hitting eating and drinking out businesses that are crucial to the UK economy and have helped restore prosperity to our town and city centres. ...
Store Twenty One goes into liquidation with loss of 900 jobs image
Source : Guardian [Read Article] Tuesday 11th of July 2017 03:29:06 PM
....“The traditional retail sector continues to face significant challenges, not least with the changes in business rates,” said Bonney. “The company was founded in 1932 and unfortunately it is another example of the difficulties arising in the current economy. ...
May says she will help gig economy workers but fails to pledge new laws image
. Theresa May has said she will aim to improve rights for those working in the gig economy but fell short of promising legislation to tackle the problem, as she gave a speech aimed at relaunching her faltering leadership. ...
The Taylor review could make things worse for workers. What a surprise | Owen Jones image
.... The key problem is with a lack of enforcement of these rights. The courts have already ruled that some gig economy workers are being denied these rights: Uber was defeated in court over its classification of its workers as self-employed. ...
Uber is not morally acceptable, says shadow business secretary image
Source : Guardian [Read Article] Tuesday 11th of July 2017 09:29:39 AM
. Uber is not morally acceptable, Labour’s shadow business secretary has said as a major review recommends that gig economy firms be allowed to pay less than the minimum wage in some circumstances. ...
Why a population of, say, 15 million makes sense for Australia image
Source : Guardian [Read Article] Tuesday 11th of July 2017 04:54:13 AM
....It is reasonable to ask, therefore, what exactly has been the point of the huge growth in GDP and population in Australia since that time if our level of wellbeing has declined. What is an economy for, if not to improve our wellbeing? Why exactly have we done so much damage to our water resources, soil, the liveability of our cities and to the other species with which we share this continent if we haven’t really improved our lives by doing it?. ...
May relaunches premiership with new protections for gig economy workers image
. Theresa May will promise to avoid piling any additional red tape on to companies at the launch of a major government-commissioned report into the world of work, which sets out new protections for workers in the gig economy. ...
Casual work is still the root cause of destitution | Letters image
Source : Guardian [Read Article] Monday 10th of July 2017 05:43:31 PM
.... Enabling adults to gain qualifications that recognise their competence and experience developed over many years can boost their confidence, but it can leave them treading water. Devaluing apprenticeship by using it as a one-size-fits-all approach to skills policy isn’t working for individuals or the economy. ...
Central banks are ending policies like QE – but they'll be back | Nouriel Roubini image
....25% to 0%. When that still did not boost the economy, the Fed began to pursue unconventional monetary policies, by launching QE for the first time. ...
How healthy is the global financial system? | Mohamed El-Erian image
Source : Guardian [Read Article] Monday 10th of July 2017 09:00:47 AM
....In short, ongoing measures to buttress the global financial system have undoubtedly paid off, especially when it comes to strengthening capital cushions and cleaning up balance sheets in important parts of the banking system. The latest assurances from policymakers are comforting to those of us who worry that not enough has been done to reduce systemic financial risk and to ensure that banks serve the real economy, rather than threaten its wellbeing. ...
Mark Zuckerberg’s got some cheek, advocating a universal basic income | Sonia Sodha image
.... Cue basic income, aka let’s make this the state’s problem. This is the turbo-charged version of gig-economy platforms shifting employment risk from companies to individuals and state welfare systems, all in the name of profit. ...
Spending falls at fastest rate for four years as consumers tighten belts image
....“The lack of upward momentum in pay growth, in several economies including the UK and US, has been a central talking point of late as policymakers debate the cause of this and what this implies for the stance of monetary policy,” she said. “In the UK context, we suspect the lack of pay growth will help the MPC [monetary policy committee] delay any normalisation until Brexit uncertainties facing the UK economy have died down. ...
House price pick-up allays fears of property market crash image
Source : Daily Express [Read Article] Sunday 9th of July 2017 03:37:00 PM
....Given the spiralling rate of house price inflation in recent years, a property price slowdown is more to be welcomed than feared. Otherwise, buyers will be forced to take on ever larger amounts of debt to keep pace with rising prices, which will only suck money out of the economy and store up more debt problems for later, especially if interest rates rise faster than expected. ...
Heathrow hotel operator drafts £6.7bn cheaper third runway plan image
Source : Guardian [Read Article] Sunday 9th of July 2017 02:42:29 PM
....”. The transport department has claimed Heathrow expansion would be a major boost for the UK economy and jobs, underlining a commitment to keeping the UK “open for business”. ...
Bank of England: pay figures will fuel raging interest rate debate image
Source : Guardian [Read Article] Sunday 9th of July 2017 09:10:15 AM
....At the last rate-setting meeting in June, three policymakers voted for an immediate rate rise to 0. 5%, which would remove some of the emergency stimulus the Bank injected into the economy after the Brexit vote. ...
Trump's growth problem: jobs boost masks trouble ahead for US economy image
.... After several months of disappointing jobs growth, US hiring picked up steam again. But beneath the surface there’s a problem for the president: the US economy appears to be running out of gas. ...
Gig economy: now is the time to ease the burden for workers image
Source : Guardian [Read Article] Sunday 9th of July 2017 06:00:16 AM
....Let us hope he has listened to some of the same people as Frank Field, the former chair of the work and pensions committee. Field’s latest report from the frontline of the gig economy told some depressing, if by now familiar, stories. ...
In other circumstances, we’d raise rates. But with Brexit looming, how can we? image
.... It can be argued that the natural business cycle was coming to an end in 2003. The economy was slowing as many important industries paused for breath after a good eight years of expansion. ...
Will cheap car loans steer Britain to a financial crash? image
Source : Guardian [Read Article] Saturday 8th of July 2017 06:00:00 AM
.... It has worked on mortgages and can on car finance. The only other way to curb the car-led consumer credit explosion is to raise interest rates, which will then wreck the wider economy. ...
Are cheaper car tyres a false economy? image
Source : Guardian [Read Article] Saturday 8th of July 2017 06:00:00 AM
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Low-paid workers need better job satisfaction, No 10 review will say image
....The review was ordered by Theresa May following revelations about low pay and the lack of basic employment rights endured by many workers in sectors including parcel delivery, minicab driving and warehouse work. The Guardian exposed poor pay and conditions for workers in gig economy companies including the courier firm Hermes, and revealed how Sports Direct in effect paid agency workers at its Shirebrook warehouse in Derbyshire less than the minimum wage. ...
US jobs report shows sharp recovery in June but wage growth remains slow image
. The US economy added 222,000 new jobs in June, reversing a worrying slowdown in jobs growth for Donald Trump but once again highlighting America’s low-wage economy. ...
UK workers earning £2.50 an hour prompts call for government action image
Source : Guardian [Read Article] Thursday 6th of July 2017 09:00:07 PM
. The government has been urged to stage an “emergency intervention” to protect gig economy workers, amid concerns they are being forced into contracts that sometimes pay less than £2. ...
Gig economy: there's an easy way to end abusive working conditions image
Source : Guardian [Read Article] Thursday 6th of July 2017 09:00:07 PM
. Tales of abusive working practices in the self-employed “gig” economy are no less shocking for being familiar. ...

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