Business and Economics
Business and Economics News
Low levels of unemployment doesn’t translate into “improved living standards in London”
UK unemployment fell by 65,000 to 1.36 million in three months to June - the lowest for more than 40 years. They also show a rise in productivity, but a slowdown in wage growth. The official figures from the Office for National Statistics (ONS) on unemployment revealed that: 5% unemployment in London is near record low (persons aged 16-64, April-June 2018), driven in particular by fewer young people and fewer women out of work. The young person (18-24 year old) unemployment...
Customers unable to use cards to pay in hundreds of M&S stores
One in four Marks and Spencer's card machines are down in the UK, leaving frustrated customers only able to use cash
Employers now favour experience over university degrees
Employers now favour relevant apprenticeships or experience over university degrees, a study has found. Researchers who polled 1,000 decision makers found 49 per cent prefer to see experience from a relevant apprenticeship or previous position on a candidate’s CV. Just 24 per cent said they would be more likely to take on someone who had a relevant degree qualification. The study was carried out by AAT (Association of Accounting Technicians) ahead of A Level results day on Thursday August 16th....
Outrage from devastated High Street as Amazon pays less tax in UK despite profits tripling
There has been an outcry after news emerged that the tax delivery giant Amazon pays in the UK has fallen despite profits almost tripling. Amazon’s turnover was nearly £2 billion in the UK and its profits leapt. Yet the internet delivery giant’s taxes fell, partly due to being able to pay some of the staff in shares. Amazon UK’s taxes fell to just £1.7 million last year, down from £7.4 million in 2016. Billionaire Jeff Bezos's company says it pays...
Amazon public service contract “a joke”
If Amazon really wanted to help our public services, they'd pay taxes properly and treat their workforce better says GMB Union GMB, Britain’s general union, has branded Amazon’s £600million public sector deal ‘a joke’ The internet giant has secured a contract to sell everything from paper clips to bandages to Yorkshire’s schools, social care providers and emergency services. Amazon signed the five-year deal with Yorkshire Purchasing Organisation (YPO), a procurement body owned by local authorities which helps to drive the...
BoE’s interest rate hike is ‘premature & unnecessary’ & could be ‘motivated to protect reputations’
The Bank of England’s interest rate hike has been slammed as “premature” by the CEO of one of the world’s largest independent financial advisory organisations, who added the rate decision could be “motivated to protect reputations.” Nigel Green, founder and chief executive of deVere Group, is speaking out after the governor of the UK’s central bank, Mark Carney, announced today (Thursday) a rate rise from 0.5 per cent to 0.75 per cent, taking the UK's base rate of interest to...
No UK car manufacturer is prepared for Brexit, motor industry warns
The car industry has been one of the most vocal against Brexit due to the damage it could inflict on car production in the UK. Now Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders has said that none of the car makers in the UK is ready for a no-deal Brexit. He said he is “increasingly concerned” about the UK failing to reach any kind of deal with the EU. A “no deal” Brexit means that...
Win a Fellowes productivity-boosting office makeover
The London Economic (TLE) and office product specialists Fellowes are teaming up to offer one lucky company the ultimate productivity-boosting prize… an ergonomic office equipment bundle. Is your office making you less productive? Equipment poor? Uncomfortable at your desk? All of the above? Well, you’re not alone. According to Fellowes’ Productivity in 2018 report, 60% of office workers believe their business has productivity issues with the average worker being un-productive for an hour and a half every day. Not only...
Financial services must “unite and fight” against no-deal Brexit
The financial services industry must “unite and fight” against a no-deal Brexit that potentially erodes clients’ rights and damages the financial sector itself, warns the boss of one of the world’s largest independent financial services organisations. The warning from deVere Group founder and CEO, Nigel Green, comes as the UK's International Trade Secretary, Liam Fox, said that Britain should accept a ‘no-deal’ scenario, instead of requesting more negotiating time. It also follows MPs being told earlier this week by the Association of British Insurers that...