India’s economy to overtake UK – and France will enjoy a brief period on top as sterling fall makes its mark

India’s economy is set to overtake the UK in size in the next two years as the second largest country by population continues its heady pace of development, according to a new study.France’s GDP will also rise above the UK’s for the next five years, according to forecasts in the World Economic League Table, compiled by the Centre for Economics and Business Research (Cebr). whatsapp whatsapp The UK is currently the fifth largest economy in the world, according to the World Bank’s 2015 data, with GDP of more than $2.8 trillion (around £2.3 trillion). However, this does not take into account the effects of sterling’s steep fall in the wake of the EU referendum.Read more: UK tech is opening a new Passage to IndiaThe rankings, based on forecasts of GDP size, show emerging market economies gradually pushing past European nations as their wealth rapidly increases.India’s heady annual growth rate, at 7.3 per cent, is higher than China’s, which should see it rise to be the third largest economy by 2024 – below only China and the US.Korea is set to join India above the UK by 2030, while Brazil could also overtake as it recovers from a sharp slowdown. Monday 26 December 2016 12:59 pm The forecasts also assume a fall in trade, as services sectors grow even further in developed nations and new labour-saving technologies – 3D printing and robotics among them – reduce the advantage of outsourcing to countries with cheap wages.Read more: Automate to accumulate: Embrace our robotic futureRankings for GDP per capita are still dominated by Europe, North America, and Japan, but globalisation is fuelling the rise of consumers in developing nations at an unprecedented pace. Wealth per citizen in China and India was growing at 6.4 per cent and 6.3 per cent respectively in 2015, according to the World Bank.Douglas McWilliams, president of Cebr, said: “The World Economic League Table tracks the pace of globalisation as the former leading economies from the West get overtaken by fast growing emerging economies.“China continues to be on track to become the world’s largest economy. India is now growing faster than China and will reach number three by 2024,” added McWilliams. India’s economy to overtake UK – and France will enjoy a brief period on top as sterling fall makes its mark Share Jasper Jolly read more

Voyageurs du Monde eyes English-speaking market with 60 per cent stake in UK travel company Original Travel

Monday 9 January 2017 11:39 am One of France’s largest travel firms, Voyageurs du Monde, has said it will acquire 60 per cent of UK-based luxury tour operator Original Travel in an effort to further expand into English-speaking markets.The Euronext Paris-listed company has a 40 per cent share of the French market, but it’s now eyeing up expansion in the UK, US, Canada, Singapore, Hong Kong, Dubai and Australia. Courtney Goldsmith Voyageurs du Monde eyes English-speaking market with 60 per cent stake in UK travel company Original Travel The acquisition follows a 12-month review of the UK market, during which time Voyageurs said it was impressed by Original Travel’s growth.Read more: Get ready to dodge even more tourists in 2017 as the pound stays lowThe British travel firm, which is one of the UK’s fastest growing bespoke travel companies, has grown steadily since it was established in 2003, with revenue growing more than 20 per cent to £15m in 2016. In contrast, the bespoke travel sector has only recently returned to levels seen before the recession, the French company said.”We believe Original Travel management team are the best placed team in the UK to help us develop the leading bespoke travel company in the English-speaking world,” said Jean Francois Rial, chief executive of Voyageurs du Monde.Original Travel will retain 40 per cent of the business and will operate as Voyageur’s partner. The British company will be a platform for organic and acquisitive growth in the English-speaking world, Voyageurs said. whatsapp whatsapp Read more: Thomas Cook invests in more own-brand hotels across EuropeIn 2015, Voyageurs reported revenue of €362m (£313m) and earnings of €21m (£18m). Its share price increased 2.39 per cent today in morning trading.Nick Newbury, chief executive of Original Travel, said the company was flattered to be approached by Voyageurs du Monde. “Partnering with a business that share our ethos is a hugely significant development as we embark on the next step of our corporate growth.”Read more: These will be the most popular tourist destinations of 2017 Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoPensAndPatronTori Roloff Confirms Sad Family NewsPensAndPatronUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndo Share read more

Heathrow cancels more flights as persistent freezing fog causes travel disruption for the second day

Tuesday 24 January 2017 7:49 am whatsapp whatsapp Heathrow cancels more flights as persistent freezing fog causes travel disruption for the second day Rebecca Smith Today the fog reduced visibility at the airport, which warned passengers to expect disruption throughout the day.Read more: Heathrow havoc: Freezing fog causes flight cancellations at London airportsFog across London is expected to cause disruption to flights at Heathrow today. Please check with your airline prior to travelling. pic.twitter.com/kaTMbVnYSm— Heathrow Airport (@HeathrowAirport) January 24, 2017It has advised passengers to check the status of their flights before setting out. [email protected] now fly from our North Terminal. Extra staff will be on hand to help you around the airport today. pic.twitter.com/SQ4MrXHdlw— Gatwick Airport LGW (@Gatwick_Airport) January 24, 2017 Persistent freezing fog has meant the cancellation of another 100 flights at Heathrow Airport for the second day on the trot.The Met Office issued a yellow fog warning for the majority of southern England last night, advising people to be aware. Share London City said visibility had improved, but with forecasts showing more fog later, passengers should keep an eye on airline information if travelling.Read more: Check before you fly: Gatwick’s airlines swap terminals next weekGatwick said air traffic control restrictions imposed due to the heavy fog had caused delays on flights both to and from the airport yesterday, as well as causing some cancellations.It’s not the best week for weather havoc to add to confusion for passengers, as Gatwick has kicked off its airline merry-go-round too. British Airways, EasyJet and Virgin Atlantic are swapping terminals – EasyJet has moved to the North Terminal from today.The airport has said extra staff will be on hand to help direct passengers. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com The airport has said that as it operates at near full capacity, there aren’t gaps in its schedule that can be used for delayed flights.We’re expecting some delays this morning due to fog. Please check-in as usual and contact your airline for specific flight information.— Southampton Airport (@SOU_Airport) January 24, 2017Southampton has also warned there might be delays.Yesterday, Heathrow, along with London City, Gatwick and Southampton, all cancelled flights due to the lingering fog. read more

Optimism at two-year high ahead of Brexit for UK manufacturers as domestic demand drives morale up

Share Wednesday 25 January 2017 1:03 pm The most apparent change to the UK economy so far has been the devaluation of sterling, which has boosted exporters as foreign buyers find their currency going further.Manufacturers report export prices rising at an average of 16 per cent, well above the long-run trend of a nine per cent average decline. The survey found exports and export prices were expected to rise further.The devaluation has also boosted competitiveness in EU and global markets.Read more: Britain must look beyond trade deals to turbocharge exportsHowever, producer price inflation has risen, with a majority expecting further price rises in unit costs and therefore domestic prices. Producer price inflation in the UK has risen steadily since July, reaching 2.7 per cent in December. Samuel Tombs, chief UK economist at Pantheon Macroeconomics, predicts factory gate prices to increase to around six per cent.“We doubt that order books will look as healthy as they do now after manufacturers have increased their prices sharply,” he said.However, with inflation yet to impact consumer demand, political concerns have been at the forefront for many businesses.Sentiment measures have been dominated by concerns over uncertainty as the UK leaves the EU, but manufacturers have welcomed recent moves by the government to clarify a new industrial strategyRain Newton-Smith, CBI chief economist, said: “The new industrial strategy can support our manufacturing base by offering a shared long-term vision for the key sectors and regions of the economy and evidence-based plans for government and business collaboration. The CBI and its members across the country stand ready to support the government in achieving this.” whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekUndo Jasper Jolly A boom in domestic demand has boosted optimism among British manufacturers to increase at its fastest pace for two years ahead of Brexit, according to a survey of UK businesses.More than a quarter of manufacturing firms are optimistic for prospects for the year ahead, according to the Confederation of British Industry (CBI), outweighing negative perceptions by the most since January 2015. In the third quarter of 2016 businesses had been heavily pessimistic about prospects, but strong demand and a devalued pound have boosted manufacturers in particular.Read more: UK manufacturing rose in November as the construction sector slowedDomestic demand helped to drive the improvement in morale, with the volume of UK orders rising at its fastest rate since July 2014 in the three months to January. The strong demand reflects a healthy British economy, which has so far avoided any sign of a slowdown in the aftermath of the Brexit vote as consumers have continued to spend. Almost a third of manufacturers said output has increased, while 37 per cent found total orders have increased. whatsapp Optimism at two-year high ahead of Brexit for UK manufacturers as domestic demand drives morale up More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPuffer fish snaps a selfie with lucky divernypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org read more

Telefonica is working through a strategic plan that will pave the way for O2 float

2016 (May) European Commission blocks Three purchase of O2 Telefonica is working through a strategic plan that will pave the way for O2 float Sunday 29 January 2017 3:01 pm A £10bn sale of O2 to competitor Three was blocked by the European Commission last May.  1985 Cellnet established – joint venture (60:40) between BT and Securicor Read more: O2 chief executive Ronan Dunne leaving the companyTelefonica stepped up plans to spin O2 in the wake of the news, appointing Barclays to lead a raft of investment banks to run the deal.The listing was put on ice in October, as the O2 float fell victim along with a host of other major names to concerns over market conditions. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman files for divorce after seeing this photoMisterStoryWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthHealthyGemBaby Has Never Eaten Sugar Or Carbs, Wait Till You See Her TodayHealthyGemFactablePut Baking Soda Around The Base Of A Tomato Plant, Here’s WhyFactable2021 Buicks | Search AdsIntroducing The Head Turning 2021 Buicks!2021 Buicks | Search AdsJournalistatePierce Brosnan’s Wife Lost 120 Pounds – This Is Her NowJournalistateNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteabley 2005 Spanish firm Telefonica buys O2 in £18bn deal 2001 BT Cellnet spun-off into separate company 1999 BT buys out Securicor, rebrands as BT Cellnet Oliver Gill 2014 BT in talks to buy either O2 or rival EE, ultimately went for EE 2016 (Oct) Telefonica withdraws listing plans Read more: Fears for London IPO market as Misys and O2 pull 2016 float plansThe division of Telefonica in question – which owns a network of phone masts and undersea cables – is called Telxius and was the subject of a failed float last September.And the reports indicate the Spanish telecoms giant is hoping to flog the business using the proceeds to pay down its bellowing £47bn debt pile.Once complete Telefonica will turn its attentions back to selling subsidiary O2 either through a float or sale.Who owns O2? 2002 BT Cellnet rebranded as O2 2015 Three agrees to buy O2 for £10bn Date Event 2016 (Sept) Telefonica appoints advisers for London listing of O2 whatsapp O2’s owner has set the ball rolling on a strategic plan to clear legacy issues before either floating or selling the British mobile phone operator, according to reports.Singapore’s sovereign wealth fund, GIC, is working with private equity fund CVC to buy a controlling share in Telefonica’s infrastructure division in a deal worth €1.5bn (£1.3bn), the Sunday Times reported.  Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com read more

An influential German central banker says UK will lose “gateway to Europe” status for the City’s financial services

An influential German central banker says UK will lose “gateway to Europe” status for the City’s financial services The current model of using London as a “gateway to Europe” is likely to end, he said, with the removal of passporting rights for UK banks and other financial firms.Read more: Equivalence can’t trump passporting, warns boss of bank trade bodyDombret added that “numerous market participants” have already contacted European regulators over moving operations to Europe.Passporting allows financial firms to trade in all countries of the European Union (EU) as if it were their home country. However, the UK government has placed control over immigration as a higher priority than market access, leaving British financial firms scrambling to find ways to continue trading freely.Some regimes are more equivalent than othersThe UK would almost certainly be eligible for regulatory equivalence on first leaving the EU, which allows continuous trading in a similar manner to passporting. However, Dombret suggested equivalence will not be sufficient for the UK to remain the main European financial centre. Jasper Jolly whatsapp Friday 10 February 2017 9:14 am An influential German central banker has said Brexit will “end” the UK’s position as the dominant financial services centre in Europe, after “numerous” financial services firms explore moving operations to the EU.The UK will lose its position as a “gateway to Europe” for the world’s financial services industry, according to a speech by Dr Andreas Dombret, an executive board member at the Bundesbank in a speech earlier this week in Frankfurt. “Equivalence decisions are no ideal substitute for passporting,” he said, pointing to the “reversible” nature of equivalence if the UK regime is deemed to have moved too far from EU regulations.Read more: Losing access to the single market would be “calamitous” for the CityDombret described Brexit as part of a broader “trend we are seeing towards renationalisation”, but said the EU will not pursue a mercantilist “regulatory race to the bottom” if the UK moves to attract business through deregulation.That was echoed by the EU’s commissioner for financial services, Valdis Dombrovskis, who told City A.M. the EU was committed to an international regulatory architecture, and would not look to “punish” the UK for voting for Brexit.Dombret also warned “it is unclear how likely” a transitional arrangement during negotiations would be, owing to its “politically sensitive” nature.Moves across the Channel However, he did say a confrontational approach is “not in the interest of either the UK or the EU” and that the UK will “remain an important financial centre”, but predicted more firms will move operations out of the City.“I also expect many UK-based market participants to move at least some business units to the EU in order to hedge against all possible outcomes of the negotiations,” he said. On the much-debated clearing issue, Dombret added it will be “impossible” for euro clearing to remain in London if the UK does not remain bound by the European Court of Justice – a red line for Prime Minister Theresa May.“Continuation of clearing strongly depends on the acceptance of the European Court of Justice,” he said.“I see strong arguments for having the bulk of the clearing business inside the euro area.”Dombret manages banking and financial supervision for the German central bank. whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHome Foundation RepairCheap Basement Wall Leak Fixing in Scottsdale. Check OptionsHome Foundation RepairRecetas Get5 Early Warning Cancer SymptomsRecetas GetThe Sports Drop25 Infamous NFL Draft Busts – Where Are They Now?The Sports DropMyBrightSideLittle Family Stars Confirm Very Sad NewsMyBrightSideReal liveTop 11 luxury watch brands you should knowReal liveCarammelloFamous Celebrities And Their Hilarious Animal Doppelgangers – CarammelloCarammellostylishladiez9 Proven Ways Celebrities Stay Looking YoungstylishladiezOmgCheckItOutScientists Claim They’ve Finally Found Noah’s ArkOmgCheckItOut10 Best Dog for Seniors10 Best Dog for Seniors – Carammello10 Best Dog for Seniors read more

Nationwide profits fall as it warns IT investment will continue to weigh down earnings

first_img More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPuffer fish snaps a selfie with lucky divernypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comMisterStoryWoman files for divorce after seeing this photoMisterStoryBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerTheFashionBallThe Most Beautiful Women In SportsTheFashionBallGadgetheory39 Of The Most Beautiful Women In HistoryGadgetheory Meanwhile one in five current account switchers moved to Nationwide, according to an Ipsos Mori survey, as the bank grew its number of current accounts five per cent to 7.7m.What Nationwide saidChief executive Joe Garner said: “In September we took the conscious decision to increase significantly our investment in the society in the full knowledge that it would impact profitability in the short-to medium-term but would be of long-term benefit to our members.Read more: Societe Generale to cut €500m from investment bank despite profits boost“This investment is to ensure we can continue to meet our members’ changing needs in an increasingly digital future. At the same time, consistent with member feedback, we remain committed to and are investing in our presence on the high street.“Looking ahead to the fourth quarter, as consumers continue to benefit from considerable choice, we intend to remain competitive and thus expect that lending margins will continue to moderate. We are confident that the Society’s financial strength means we can continue to support members, as we have always done.”More to follow. Profits fell in Nationwide’s third quarter as the building society was hit by a £167m write-off charge as well as an ongoing technology investment, it revealed today, warning profit pressure will remain in the fourth quarter.The figuresPre-tax profits dropped a staggering 20 per cent year on year to £703m for the last three months of 2018, compared to the same period the year before, when profit stood at £886m. Read more: UK house price growth falls to six-year lowUnderlying profit slipped to just £691m from £880m in 2017.The co-operative blamed a £167m asset write-off as well as its drive to replace its IT stack, but said the results were in line with guidance issued last September.However, net mortgage lending grew 36 per cent to £6.1bn between April and December 2018, despite Nationwide’s own dour outlook for the UK housing market, as it helped 59,400 first-time buyers buy their first home.Member deposits also grew by £5.9bn over the nine-month period as Nationwide upped its market share by 0.1 per cent to 10.1 per cent, crediting the increase to the popularity of its Loyalty ISAs and Single Access products. Nationwide profits fall as it warns IT investment will continue to weigh down earnings Share Joe Curtis Tags: Nationwide whatsapp Friday 8 February 2019 7:44 am whatsapplast_img read more

Sterling endures rollercoaster afternoon as Bank of England slashes growth forecasts but Brussels talks offer Brexit hope

first_img Read more: Juncker refuses to reopen Brexit negotiationsGovernor Mark Carney said it now seemed that “not everything may be tied up in a neat package by the end of March” and predicted business investment to further soften until much-needed clarity was provided over BrexitSterling’s volatile afternoonSterling dropped around 0.4 per cent immediately after the bank’s cut growth forecasts, sliding to $1.286.But the currency rallied after governor Mark Carney said Brexit clarity would boost forecasts and a “robust but constructive” meeting between Theresa May and Jean-Claude Juncker in Brussels. Tags: Trading Archive The pair agreed to continue talks in an effort to push the withdrawal agreement through parliament, although Juncker insisted the deal was not up for renegotiation.“Initially despondent, falling as much as half a per cent against the dollar after the Bank of England briefing, the pound perked up significantly as the day went on,” Spreadex analyst Connor Campbell said.“The currency, perhaps making the most of the minor signs of progress between the UK and EU following a ‘robust’ meeting in Brussels and the scheduling of another tete-a-tete on Monday,” he added.Has the Bank moved away from its hawkish stance?Carney denied the February inflation report was a move away from its plan for “gradual and limited” interest rate hikes in the future. But analysts said the bank’s comments were more dovish than expected and that the Bank was hinting at fewer hikes in the coming years.“We have long been sceptical that the MPC would be able to sustain its previously hawkish rhetoric and the sands do now seem to be shifting,” Oxford Economics associate director Andrew Goodwin said.He added that it marked a “change of attitude” from the bank and implied one fewer hike than expected over the next three years.Wells Fargo investment strategist Brian Jacobsen said: “The Bank of England tilted dovish, but tried to maintain its hawkish bent,”“Lowering their trend rate of growth means they can justify rate hikes in the future, but not yet.” Share whatsapp whatsappcenter_img Thursday 7 February 2019 4:42 pm Callum Keown European stock markets rockedThe FTSE 100 has fallen 0.9 per cent as the pound rallied but analysts said the sharp drop in European markets suggested investors feared the Eurozone was in freefall.It comes after the European Commission (EC) also cut growth forecasts earlier today, blaming Brexit and the slowdown in China.The EC slashed its forecast for Italy to just 0.2 per cent for the whole year, compared with a previous forecast of 1.2 per cent, while it also trimmed Germany’s forecast to 1.1 per cent from 1.8 per cent.The Eurozone growth forecast was also cut to 1.3 per cent, down from the 1.9 per cent predicted in November.The Euro Stoxx – an index of 50 Eurozone stocks – fell 1.6 per cent for the day, led by the German DAX which plummeted 2.3 per cent.Read more: Bank of England slashes UK growth forecast“Eurozone stocks are suffering greatly as investors are fearful the region could be in for an economic downturn,” CMC Markets analyst David Madden said.“The EU also have a lot to lose should the UK leave without a deal, and the deteriorating economic condition could not come at a worse time,” he added. Sterling endures rollercoaster afternoon as Bank of England slashes growth forecasts but Brussels talks offer Brexit hope More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPuffer fish snaps a selfie with lucky divernypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Sterling has endured a rollercoaster ride this afternoon after the Bank of England slashed growth forecasts but a glimmer of hope emerged for Theresa May’s Brexit deal in Brussels.The Bank cut its UK growth forecasts to 1.2 per cent in 2019 – from a previous 1.7 per cent projection – citing mounting Brexit uncertainty and a global economic slowdown.last_img read more

Government ‘very unlikely’ to hit apprenticeship targets, warns NAO

first_imgWednesday 6 March 2019 7:10 am Whitehall’s attempts to overhaul the apprenticeships system have so far lowered the number of apprentices starting schemes in the UK by one-quarter, according to the National Audit Office (NAO).The number of starts in the academic year 2017/18 was 375,800, 26 per cent lower than the 509,400 starts in 2015/16 before the introduction of the so-called apprenticeship levy in April 2017, according to a report by the watchdog. whatsapp Alex Daniel whatsapp Amyas Morse, the head of the NAO, said today: “Despite making changes to the apprenticeships programme, the department has not enticed employers to use available funds or encouraged enough potential recruits to start an apprenticeship.“It has much more to do to meet its ambitions. If the department is serious about boosting the country’s productivity, it needs to set out clearly whether its efforts are on track to meet that aim.”Apprenticeships minister Anne Milton said: “The apprenticeship programme gives employers the opportunity to provide new and existing staff with a range of opportunities to gain skills in the workplace and makes sure we have long term investment in apprenticeships.Read more: Thinking about taking on an apprentice?“The number of people starting training on our new employer designed standards is rising year on year and we will continue to work with employers to help them develop their apprenticeship programmes. Apprenticeships enable people to get a great job and career, and give employers the skilled workforce they need.center_img Government ‘very unlikely’ to hit apprenticeship targets, warns NAO Share “We have increased flexibility for levy paying employers so they can transfer 10 per cent of their levy funds to other employers and we will increase this to 25 per cent from April.”Matthew Fell, chief UK policy director at the Confederation of British Industry, said: ‘‘Today’s report confirms what employers already know – that the Apprenticeship Levy is not yet working as intended and is holding back the Government’s welcome efforts to modernise the skills system. Read more: Fresh data reveals the folly of Britain’s apprentice levyThe apprenticeship levy charges all employers with an annual pay bill of more than £3m at a rate of 0.5 per cent of their total pay bill. The proceeds then go towards paying for more people to start apprenticeships at those companies.The rate of starts would need to double for the government to meet its target of 3m new starts by March 2020, which is “very unlikely”, according to the NAO.The take-up of levy funds is below what the Department for Education expected, the report added. In the financial year starting April 2017, levy-paying employers used nine per cent of the funds available to them to support new apprenticeships, equating to £170m of almost £2.2bn available.Partly because of this, the department spent less on the programme than it budgeted. In the same financial year it spent £1.6bn, which was £4m less than its budget. Tags: Trading Archivelast_img read more

Corporate reputation is more valuable than you think

first_imgThursday 4 July 2019 6:25 am As one of the world’s leading corporate communications groups, we at AMO spend a great deal of time promoting and defending corporate reputation. A little while ago, though, we asked ourselves what all this is really worth. Not in any existential way, but really, what value does a company’s reputation actually have, how is that value created, and what can it be attributed to?  More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comPuffer fish snaps a selfie with lucky divernypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Reassuringly, the value of that reputation is actually rising – up 2.1 per cent in the 12 months to the end of March 2019 – even while overall share prices stagnated. I am pleased to say that London’s FTSE 100 scored particularly highly in the reputation stakes, coming first of all the 15 indices examined, with reputation being valued at well over 40 per cent of total market cap. Bottom of the pile by contrast was the Russian RTSI index, where reputation was only worth a lowly 14 per cent of the total value of the leading stocks. To try to find out, we enlisted Reputation Dividend, one of the leading consultancies in the area, who use a range of statistical tools to drill out the value of a company’s reputation in its market capitalisation – the premium it holds over the value it would have if it was judged on financial metrics such as net assets and cash flow alone.  Over the past nine months, they have done a deep analysis of the financials of more than 1,000 leading companies that comprise the indices of the 15 main equity markets around the globe. In terms of industry sectors, the data also threw up some wide disparities. Not surprisingly technology was the clear winner, given the high expectations for growth. Here, reputation was worth 43 per cent of total market value, against utilities, the worst performer, at only 25.2 per cent. These are all facts that we perhaps have sensed, but it is interesting that the data is there to confirm our suspicions. Neil BennettNeil Bennett is chief executive of Maitland/AMO, a founder member of AMO. Shakespeare, as you might expect, has the best lines on the subject. “I have lost my reputation. I have lost the immortal part of myself and what remains is bestial,” wails Cassio in Othello. Or if you prefer, there is Iago’s more sinister retort: “Reputation is an idle and false imposition, oft got without merit and lost without deserving.”  whatsapp Corporate reputation is a ubiquitous phrase today. Companies spend enormous sums trying to burnish their reputations.  Overall corporate reputation is today worth an astounding $16.77 trillion, amounting to 35.3 per cent of the market capitalisation of the world’s 15 leading indices (which in turn make up the vast majority of the value of all quoted equities worldwide).  LONDON, ENGLAND – OCTOBER 27: A general view of the London Skyline on October 27, 2016 in London, England. (Photo by Dan Kitwood/Getty Images) Opinion The most valuable factor in reputation was long-term investment value – or growth potential in more simple terms – which was worth a total of $2.2 trillion. Quality of management came second at $2.1 trillion.  Corporate reputation is too valuable to leave to chance And which equity markets around the globe do best in the corporate reputation stakes? This report has given us a wealth of data to chart the reputations of our clients and other businesses.  The results are both impressive and fascinating, and were published yesterday in our report “What Price Reputation?”. center_img Then Reputation Dividend cut the numbers further, to look at what specific factors drive corporate reputation. They looked at the nine categories used by Fortune Magazine’s “Most Admired Companies” annual survey.  City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. An army of corporate governance experts, politicians, regulators and, dare I say, journalists queue up to judge those efforts – and often find them wanting. Significantly, while most of the companies in the survey had a positive reputation value, 21 per cent actually had a negative one, and that value destruction is worth a total of $436bn. These are companies that need to look at themselves pretty carefully and work out where they are going wrong. Reputation and growth Share London leads the way So what does all this actually mean? The data gives each company a roadmap on how to enhance the value of their reputation, areas where they are strong, and others where they score less highly.  Paul Polman versus Mike Ashley, perhaps, in Elizabethan tragedy. Companies that score low in terms of long-term investment value, for example, need to do more to prove the strength of their business model to investors, while others may need to focus on demonstrating the strength of their management. As Peter Drucker put it: “what gets measured, gets managed”. This survey shows that reputation is too important to not be managed. It is worth noting that when we say reputation, we mean it in the broadest sense – the reputation of a company to deliver profits and earnings long into the future, for example, and its reputation to continue to grow (what many in the City would term “expectations”). These are all part of the intangible essence that makes up corporate reputation. Your reputation precedes you whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny Items that spring to mind more easily when talking about corporate reputation, such as social responsibility, actually scored quite low on the scale, but were still undeniably valuable. The total value of social responsibility came in at $1.65 trillion, which is not to be sniffed at. Tags: Company FTSE 100 FTSE 350last_img read more