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Firms forced to reveal gender pay gap

February 12, 2016

Companies that fail to address pay differences between male and female employees will be highlighted in new league tables under plans announced on Friday. Those with more than 250 employees will be forced to reveal their pay gap. The regulations will affect about 8,000 employers across the UK. They will need to start calculating the […]

Eurozone economy grows 1.5% in 2015

The economies of the 19 countries that use the euro expanded by 1.5% in 2015. In the last three months of the year, they grew 0.3%, compared with the previous three months, according to the statistics agency Eurostat. The 28 countries of the EU also grew 0.3% in the fourth quarter, to a GDP growth […]

Rolls-Royce shares jump 14% despite dividend cut

Aero engine giant Rolls-Royce’s shares are up 14%, despite a 50% dividend cut and profit at the low end of forecasts. The company, which has issued a string of profit warnings in recent years, made £1.35bn before one-offs. The chief executive said there would be further cost cuts on top of the £200m savings already […]

‘Rock solid’ Deutsche Bank shares slide 5%

February 10, 2016

Shares in Deutsche Bank continued to fall on Tuesday, despite assurances from the bank that its balance sheet was “rock solid”. The bank’s shares in Frankfurt closed 5% lower, despite a statement from the bank that it had sufficient reserves to make bond payments. On Monday, shares slumped 9.5% and have fallen more than 40% […]

New taskforce launched to combat fraud across UK

A new taskforce, consisting of police, banks and government officials, is being set up by Home Secretary Theresa May to combat fraud across the UK. Part of its work will be to publish a list of the 10 most-wanted fraudsters and improve intelligence sharing between banks and police. Figures suggest five million frauds occur every […]

India outpaces China in 2015 economic growth

February 9, 2016

India’s economy grew at an average rate of 7.5% in 2015, faster than the 6.9% growth in China, official figures show. In recent history it has been unusual, but not unprecedented, for India to grow faster than China. According to the IMF it happened in 1981,1989,1990 and 1999, and 2015 was the first instance in […]

US economy adds 151,000 jobs in January

February 5, 2016

The US economy added 151,000 jobs in January, helping to push the country’s unemployment rate down to 4.9%. The number was lower than expected and is a sharp slowdown from December, when 292,000 jobs were added. Job losses in transport and education weighed on the numbers, the Bureau of Labor Statistics said. Last week, figures […]

Bank of England: Oil price fall ‘good for UK economy’

The fall in oil prices has been a “net good” for the economy, Bank of England deputy governor Ben Broadbent has said. He told BBC Radio 5live’s Wake Up To Money that falling oil prices had helped to push up wages in real terms. Mr Broadbent also said the UK was enjoying a “solid” recovery […]

Credit Suisse announces 4,000 job cuts

February 4, 2016

Credit Suisse has announced that it is going to cut 4,000 jobs. The announcement came with the release of results for 2015. The bank made a pre-tax loss for the year of 2.4bn Swiss francs ($2.4bn; £1.6bn), which was its first annual loss since 2008. It said that included “substantial charges which are not reflective […]

Policymakers must be obsessed with growth

Mohamed el-Erian, chief economic adviser at Allianz, has urged leaders to step in and ensure companies are investing in growth to avoid a path that could end in global recession. He said politicians must avoid doing nothing as the global economy nears a “T-junction”. “Be obsessed with growth,” he told BBC Radio 4’s Today programme. […]

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