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Archive for May, 2016

A million more youngsters to live with parents, says Aviva

May 27, 2016

A million more young people are likely to find themselves living with their parents over the next decade, according to the insurance company Aviva. The main reason is the affordability of housing, the company said. The study forecasts that 3.8 million people aged between 21 and 34 will be living at home by 2025, a […]


France labour dispute: Unions urge strike escalation

French trade unions have urged workers to escalate their protests against a labour market reform bill, amid blockades of oil refineries, power stations and transport. “Continue and step up the actions,” eight unions said in a joint call. President Francois Hollande said he would not back down, insisting, “I think these are good reforms.” The […]


Pensions: Regulator plans to cap exit charges at 1%

May 26, 2016

Savers withdrawing money from their pension pots could face a maximum exit charge of 1%, under plans released by the Financial Conduct Authority (FCA). People joining pension schemes after March 2017 should be able to withdraw their cash for free, the FCA said. The regulator said that 670,000 savers had faced charges of up to […]


Tata Steel: Government warned over pension cut plan

The government has been warned that a plan to cut pension benefits to help save Tata Steel’s UK operations could take ministers down a “dangerous path”. Ex-pensions minister Steve Webb urged caution over “rushed changes” he said could have implications for workers “well beyond the steel industry”. A £485m pension deficit has been deterring potential […]


Oil hits $50 a barrel for first time this year

The price of oil has gone above $50 a barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery. Benchmark Brent crude hit $50.22 per barrel at one stage on Thursday, its highest level since early November. The rise followed US data showing that oil inventories […]


Net migration to UK rises to 333,000 – second highest on record

Net migration to UK rises to 333,000 – second highest on record 7 minutes ago From the sectionEU Referendum Net migration to the UK rose to 333,000 in 2015, according to the Office for National Statistics estimates – the second highest figure on record. Net migration is the difference between the number of people coming […]


Tata deadline for steel bidders, with seven in the running

May 23, 2016

Tata in India is expected to decide this week which bidders will go forward in the sale process for its UK steel operations. Monday is the deadline for interested parties’ bids and between one and three companies are expected to go forward to the next stage. Tata is aiming for the end of June to […]


EU referendum: Brexit ‘would spark year-long recession’ – Treas

Leaving the European Union would tip the UK into a year-long recession, with up to 820,000 jobs lost within two years, Chancellor George Osborne says. Publishing Treasury analysis, he said a Leave vote would cause an “immediate and profound” economic shock, with growth between 3% and 6% lower. David Cameron said it was the “self-destruct […]


Ryanair says fares to fall 7% amid price war

Ryanair says it expects its average fare to fall by 7% this year as it cuts prices to boost its market share amid intensifying competition. “If there is a fare war in Europe, then Ryanair will be the winner,” Ryanair chief executive Michael O’Leary said. Analysts said rival airlines were likely to follow suit. The […]


Bayer’s Monsanto bid to create biggest agricultural supplier

German drugs giant Bayer has made a $62bn (£43bn) offer for Monsanto, in a deal that would create the world’s biggest agricultural supplier. Bayer said the bid was an “extraordinary opportunity to create a global agriculture leader.” Monsanto is primarily known for genetically modified crops, often leading to vocal activist criticism. Last week, news of […]


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