Finance
Austerity policies have made us all £1,495 a year worse off, analysis shows
Austerity policies have resulted in nine years of slower growth and left us all £1,495 a year worse off, analysis by The New Economics Foundation has revealed. The think tank found the impact of tax and spending changes since the Conservatives came to power had left the economy £100 billion smaller than it would otherwise have been. As a result, the cumulative effect of tax, public spending and welfare adjustments on growth by the end of the 2018-19 financial year had left the...
Former Goldman Sachs analyst suing bank claiming he lost ‘£11.4m career’ – because of attention deficit disorder
Kwasi Afrifa, 31, resigned following claims of underperformance and is now suing the bank for disability discrimination.
Average earnings in London 15.5% lower than in 2007 after inflation
Average earnings in London are 15.5 per cent below the real value of earnings in 2007 after inflation, new research has revealed. A study of official data by GMB has shown that in London, full-time workers’ mean gross annual pay in 2018 was just 84.5 per cent of what it was in 2007. In 2007 the mean gross annual pay of full-time workers was £42,226. In 2018 that figure was £48,604, which when you factor in inflation at 36.17 per...
Reality of Brexit uncertainty starting to bite as business and personal insolvencies soar
The reality of Brexit uncertainty is starting to bite, experts have said after the number of personal insolvencies hit its highest level since 2011. Insolvency Service figures showed 115,299 people became insolvent in England and Wales last year, 20 per cent up on 2017. The number of companies going under also reached a five-year high in 2018. There were 17,439 company insolvencies last year — the highest since 2013 — driven by a big jump in numbers of builders and retailers...
Cyber crook accused of stealing £8.7 million of Bitcoins from 85 internet wallets has been arrested
International manhunt was launched after victims in the west German state of Hesse said money had been stolen from their cryptocurrency wallets in early 2018
Generous taxpayer-backed pensions give top government bureaucrats an average pot of over £900k
A groundbreaking investigation into public sector pensions has revealed the 22 individuals who run UK government departments have an annual average pot of £907,273. The TaxPayers’ Alliance (TPA) has today revealed the details of some of the most generous unfunded pensions in Whitehall, with Sir Simon McDonald, head of the Foreign and Commonwealth Office, currently sitting on a pension pot valued at £1,858,000. Fourteen of the top government bureaucrats will also receive a huge lump sum payout in addition to their annual...
Cambridge study reveals who really cashed in on Brexit vote result
International finance markets lagged behind people having a flutter on the night of the EU referendum result, according to a Cambridge University study
Cutting down on meat saved Brits more than £2.8 billion last year
Cutting down on meat saved Brits more than £2.8 BILLION last year, a study found. Researchers who polled 2,000 UK adults found 26 per cent reduced their meat intake during the past 12 months - and in doing so, saved an average of £209 each. The biggest motivations for making the change include health concerns, saving money and reducing the impact of meat consumption on the environment. Commissioned by vegetarian brand, Linda McCartney Foods, the study found the proportion of...
$1 trillion leaves British shores ahead of Brexit D-day
Banks and financial institutions have shifted at least $1 trillion worth of assets out of the UK and into the European Union because of Brexit, EY have claimed in a report published this week. Many banks have set up new offices in Europe to safeguard their regional operations, which means they have moved substantial assets over to satisfy EU regulators. Other firms are moving assets to protect clients against market volatility and sudden changes in regulation. In total at least £800 billion...