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Archive for August, 2014

HSBC boss in ‘capital flight’ claim — Re Scottish Independence

August 22, 2014

 Douglas Flint claimed independence was “a giant step into economic uncertainty” Uncertainty over an independent Scotland’s currency could lead to “capital flight” from the country, the chairman of HSBC has claimed. Writing in the Telegraph, Douglas Flint said supporters of independence were “advocating a giant step into economic uncertainty”. Mr Flint donated £25,000 to the […]

Fed chief Yellen says slack remains in US jobs market

Fed chief Yellen says slack remains in US jobs market Ms Yellen was speaking to an annual Fed conference in Jackson Hole US Economy US trade deficit narrows in June US economy adds 209,000 jobs in July US economic growth surges by 4% IMF forecasts lower US growth US Federal Reserve chair Janet Yellen has […]

LSE rights issue to raise almost £1bn for US purchase

The London Stock Exchange is raising £938m ($1.55bn) from shareholders in a rights issue to help fund a £1.6bn acquisition. The LSE said in late June it was buying index compiler and asset manager Frank Russell Company, from Northwestern Mutual. The fully underwritten rights issue will be priced at £12.95 a share. That is a […]

ECB under pressure to boost growth

August 15, 2014

Stagnation in eurozone growth has put pressure on the European Central Bank (ECB) to take measures to stimulate the European economy, analysts say. Growth in the eurozone flatlined in the second quarter, and inflation also dropped, according to official figures. The eurozone saw 0.0% growth compared with the first quarter, according to Eurostat figures. Economists […]

Tourists visiting UK in record numbers

Tourists visiting UK in record numbers The first half of 2014 was the most popular period ever for tourism into the UK, the Office for National Statistics (ONS) has found. Tourists made 16.41 million trips to the UK between January and June, an 8% rise on the same period in 2013. Spending by foreign residents […]

UK economic growth revised up to 3.2%

UK economic growth revised up to 3.2% The UK economy grew by 3.2% according to the latest official data, slightly higher than the original 3.1% estimate. The Office for National Statistics‘ second estimate of growth in the three months between April and June, left the monthly growth figure of 0.8% unchanged. The construction sector performed […]

A third to access flexible pension, says HMRC

August 11, 2014

Pensions will have greater flexibility over their pension pot on retirement An estimated 130,000 retirees a year will take cash out of their pension pot under new flexibility rules, the UK tax authority has estimated. In his Budget, Chancellor George Osborne said savers would be able to use their pension pot as they saw fit. […]

One million UK properties on ‘superfast broadband’ after investment

The UK’s broadband speeds are faster than in some European neighbours but lag behind those of other nations The UK’s culture secretary has said that more than a million properties now have access to “superfast broadband speeds” as a result of a government-backed rollout of the tech. Sajid Javid added that the effort was “firmly […]

UK hiring plans at 16-year high

BDO said services firms, in particular, planned to hire more staff UK firms intend to hire staff at the fastest rate for 16 years, research suggests. Accountancy firm BDO said its jobs index for July, which measures hiring plans over the next three months, was at its highest level since 1998. A “significant uptick” in […]

US economy adds 209,000 jobs in July

August 1, 2014

The US economy added 209,000 jobs in July adding to optimism that the US economy is roaring once more. The unemployment rate ticked up slightly to 6.2%, latest data from the Bureau of Labor Statistics have shown. The biggest job gains were in professional business services and manufacturing jobs. On Wednesday, the Commerce Department said […]

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