News

Growth continues in the service sector says CBI

Record employment in business and professional sector

The services sector grew steadily in the three months to November and robust growth is expected to continue into early 2015, according to the latest quarterly CBI Service Sector Survey.

Number of remortgage loans fall 21% year-on-year to 23,505

The lowest amount ever recorded in the month of October

• Value of remortgage loans also drops by a fifth to £3.5bn, the lowest amount since June 2013 and the worst October since 2010
• Average remortgage loan amount dropped to £149,715, the lowest amount in a year

Advertised vacancies outstrip jobseekers for first time since the recession

The number of job vacancies has overtaken the number of job seekers for the first time since the recession, according to the latest UK Job Market Report

Direct Recovery of Debt (DRD) – Statement from Chas Roy-Chowdhury, head of taxation at ACCA

Direct Recovery of Debt (DRD) – Statement from Chas Roy-Chowdhury, head of taxation at ACCA (the Association of Chartered Certified Accountants:

Over half of finance professionals feel undervalued in their business

New research reveals that 60% of finance professionals feel undervalued by their organisation, with over half (53%) saying they don’t get the same respect as colleagues working in other disciplines.

Financial Planning Week: what should I ask my adviser?

It’s a good time to consider and review your investments with the pension reforms coming into effect next April. As the IFP’s Financial Planning Week begins, the Association of Investment Companies (AIC) looks at the questions that private investors should be asking their advisers about their investments.

World Plastics Council’s First General Assembly

The first General Assembly of the World Plastics Council (WPC) was held to define key areas the Council will address. WPC is the global forum proposed in 2013 by the plastics industry to accelerate the cooperation and alignment at the international level and to deliver improved outcomes for the common benefit for society, consumers and the plastics industry.

CBI unveils package of Autumn Statement measures to keep the recovery motoring

Against a backdrop of solid UK growth but increasing global risks, the CBI is calling on the Chancellor to focus on infrastructure investment, encouraging innovation and removing barriers to enterprise, in the Autumn Statement.

Generous Britain (GB): Brits lead the way in Christmas gifting

 … and we’re officially the most organised in Europe, too

A global study by online marketplace eBay has revealed we buy more Christmas gifts for more people than any other nation in Europe surveyed.

Record backlog of tax cases waiting to be heard – driven by surge in high value cases

Taxpayers in major cases could face costly wait

HMRC’s high profile clamp-down on suspected tax avoidance has pushed the backlog of tax disputes waiting to be heard to a new record high of 27,246, with a particular surge in the number of high value cases

Galliard Homes and Cain Hoy Form Joint Venture to Develop £1 Billion of Residential Units

Galliard Homes, the leading London focused residential developer, has established a joint venture with Cain Hoy Enterprises (‘Cain Hoy’), the private investment company, to invest up to £225 million in new residential projects over the next three years;

CHART OF THE WEEK: Profitability of UK Companies

Summary:

The non-financial services sector set a new record for profitability in the second quarter of 2014, continuing the strong services recovery since 2011.