Bovis builds record number of houses as chief executive defends leap in prices
Company, which builds three-quarters of its homes in London and south-east, recorded an average 10% sale price rise to £264,000 as property demand soared Bovis has announced that it built a record number of houses in the first half of 2015, boosted by soaring demand for property in London and the south of England. The […]
UK economy: inflation forecast to remain at 0%
Interest rates less likely to rise from historic low of 0.5% as falling energy prices and strong pound anchor inflation to well below 2% CPI target Falling oil prices and a strong pound are likely to have anchored inflation at zero for a second successive month in July, giving further reason for Bank of England […]
The economy's not shrinking, so why does it feel like we're in a recession? | Greg Jericho
The last time full-time average earnings grew by such a pathetically low amount the unemployment rate was 10.8% Employment may be growing stronger than it has for a number of years but people feel neither confidence in the economy nor joy at the news about employment growth. It’s hardly a surprise: wages and household income […]
Shoppers continue to desert high streets, despite more outlets opening
British Retail Consortium and Springboard survey charts 2.2% decline in town-centre shoppers and 2.5% drop in shopping centre visitors over past 12 months High streets and shopping centres in the UK are failing to woo customers despite an increase in the number of town-centre shops open for business. The latest footfall survey from the British […]
China does not want 'currency war' with west, says central bank economist
Ma Jun seeks to assuage fears of tit-for-tat devaluations with US, Europe and Japan after its shock interventions last week, but warns of further volatility China’s central bank has warned of further volatility in the yuan but reiterated that Beijing had no intention of sparking a “currency war” following a series of shock devaluations last […]
Government growth voucher scheme branded a failure
Only 7,000 of targeted 20,000 small firms accessed vouchers, with Labour citing lack of promotion and business leaders saying it was too confusing A £30m government scheme to help small businesses pay for expert advice has been branded a flop after only a fraction of the cash was handed out. Labour said the growth voucher […]
Greece bailout deal: Angela Merkel expects IMF involvement
German chancellor tries to reassure sceptical MPs ahead of Bundestag vote by saying IMF will take part in €86bn bailout Angela Merkel has said that she expects the International Monetary Fund to take part in a new €86bn (£60bn) bailout for Greece, as the German chancellor prepares to face Bundestag opposition to the package in […]
Milk price row: Booths says stores have duty to pay farmers fairly
Chain in northern England says it pays highest price in UK because there must be give and take between retailers and suppliers The supermarket chain that pays the highest price for milk in the industry has said retailers have a “responsibility” to look after suppliers in the midst of a bruising row between farmers and […]
The innovators: the cloth cap that treats the brain
Barcelona’s Neuroelectrics develops soft helmet which examines brainwaves to help diagnose and treat conditions, from depression to strokes and maybe beyond At first glance, the cloth cap produced by Barcelona-based Neuroelectrics looks less like a medical device than a hybrid of the headgear for a Soviet-era cosmonaut and a swimmer in the 1930s. With a […]
Low pay, low inflation and low interest rates? This is not 1975
The debate over an interest rate hike labours on in both the UK and the US, but static pay and minimal inflation means ultra-low rates are staying put August 1975. Harold Wilson was prime minister. Gerald Ford had been in the White House for a year following Richard Nixon’s resignation. Steven Spielberg’s Jaws was the […]