£30bn in the pipeline: This is the year UK firms will cut pension schemes loose

Wednesday 4 January 2017 5:50 pm £30bn in the pipeline: This is the year UK firms will cut pension schemes loose PressureThe news comes as pension experts from Mercer revealed the aggregate pension deficits of FTSE 350 firms increased threefold in 2016.Although deficits have reduced from mid-year all-time highs, and fell by £10bn during December alone, at the end of the year the deficit stood at £137bn. This is compared with a balance of £39bn at the same time 12 months ago. whatsapp Depending on the nature and sensitivity of the pension scheme’s covenant it is crucial that trustees and sponsors position themselves appropriately to deal with the key scenarios that can emerge. Share Britain’s companies will shift sky-rocketing pension liabilities from their balance sheets this year, experts have predicted.With defined benefit pension schemes at record year-end levels, 2017 will be year to de-risk and UK plc is keen to take advantage of the improved affordability of shifting scheme risk to the insurance, according to Willis Towers Watson (WTW). Read more: As pension deficits double could dividends be under pressure?More than £30bn of liabilities will be insured this year the research suggests – compared with £11bn in 2016 – taking the amount of liabilities insured to the highest level since 2014.Taking stock”2016 was very much a year for taking stock, with uncertainty following the UK’s EU referendum certainly subduing the overall level of activity taking place,” said Shelly Beard, a director at WTW.With the commitment for companies to ensure sufficient funds are available to pay final salary pensions to members weighing heavy on businesses, there are a number of de-risking strategies available to boards and pension scheme trustees.Strategies include pension scheme buy-ins – where an insurance company is paid to take on some or all of the risk to meet future liabilities but the ultimate responsibility remains with the company – or buy-outs – where a pension scheme is lifted out from the corporate balance sheet and all the risk transferred to an insurance firm. Consequently, providers are entering the New Year with strong pipelines and several deals expected to trade in January, and more of our clients are approaching the market than ever, so we expect 2017 to start from a very healthy position in terms of appetite and deal pipelines. Oliver Gill Read more: Can Ofcom force through BT Openreach split?”Relative to the preceding 18 months, the second half of 2016 saw a marked increase in the value available in the bulk annuity market,” Beard added. Meanwhile Mercer senior consultant Le Roy van Zyl added: “Pension scheme trustees and sponsors face the New Year with significant uncertainty. Brexit is likely to move beyond a mere intention, and the effect of new leadership in the US will become clear – not to mention other major events such the French presidential elections.” whatsapp Read more: Trinity Mirror defends buyback amid pension shortfall criticism”[The deficit levels] continue to put real pressure on any risk management plans and will require trustees and corporate sponsors to work closely together to establish the right framework to monitor and manage those risks,” said Alan Baker, UK defined benefit risk leader for Mercer. More From Our Partners Puffer fish snaps a selfie with lucky divernypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com read more

A US judge has approved VW’s $1.2bn settlement with dealers

whatsapp Breyer said the settlement was “fair, reasonable, and adequate”.Read more: VW owners are taking their emissions scandal claims to the High CourtVW has also agreed to keep making volume-based incentive payments to dealers and will allow them to defer capital improvements for two years.Earlier this month, VW said it had negotiated a $4.3bn draft settlement with US regulators over the emissions-rigging scandal and said it would plead guilty to breaking certain US laws.It had already agreed to a $15bn civil settlement with environmental authorities and car owners in the US. Share Rebecca Smith Tuesday 24 January 2017 8:23 am Volkswagen’s dealers will receive a $1.2bn (£1bn) settlement, after a US judge approved it.The 650 dealers will receive an average of $1.85m due to the car company’s diesel emissions scandal and US District Judge Charles Breyer said they will be paid over 18 months. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictUndoUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekUndoPensAndPatronTori Roloff Confirms Devastating News About The FamilyPensAndPatronUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndo More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org And law firm Harcus Sinclair has applied for a group litigation order against VW on behalf of thousands of owners of cars manufactured by the firm. That’s the first such claim in the UK.Read more: VW’s launched a new company to discover the future of transportThe scandal emerged in September 2015 when the US Environmental Protection Agency (EPA) found that many VW cars sold in the country had software to detect when they were being tested and tweak the performance to cheat the tests.The German company then admitted cheating emissions tests in many other countries too, including the UK. A US judge has approved VW’s $1.2bn settlement with dealers read more

Delays expected as Euston station evacuated after fire alarms set off – no arrivals or departures

whatsapp However, minutes later the same account posted a tweet which said the station had reopened and services will recommence “shortly, albeit with delay”. Delays expected as Euston station evacuated after fire alarms set off – no arrivals or departures Caitlin Morrison Commuters can also expect to encounter delays on the Tube, with severe delays on the Hammersmith & City, District, Circle, Piccadilly and Victoria lines this afternoon.The London Midland twitter account posted a tweet stating that fire alarms at the station are sounding, and there were no arrivals or departures until the “source of the activation is investigated”. Thursday 16 March 2017 3:41 pm Euston station has reopened after being evacuated in a false alarm when fire alarms were set off this afternoon.National Rail warned delays were to be expected as services recover. whatsapp Share British Transport Police said the incident was a “false alarm”. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksRelated ArticlesCheesy Bacon Dip: Recipes Worth CookingUndo5 Affordable Soundbars To Improve Your TV’s SoundUndoSimple Household Hacks That Will Save You Money And Restore Items Like NewUndo Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealth.recetasget10 Evening Habits that are Definitely Bad for Night’s SleepHealth.recetasgetUndoweniix.comLook The Future of Carsweniix.comUndoPaws ZillaThe Terrifying Reason Why You Should Never Try To Outrun An Aggressive BearPaws ZillaUndoTrue EditionFind Out How Many Houses Seth Rogen OwnsTrue EditionUndoFoundation Leak Fix | Search AdsThe Prices For Foundation Repair Services In Scottsdale Might Surprise YouFoundation Leak Fix | Search AdsUndoCarammelloIf Your Dog Isn’t On This List, It’s Not A Smart BreedCarammelloUndoYoga Poses15 Must-Know Yoga Poses for BeginnersYoga PosesUndoEveryday WellnessScience Explains What Happens To Your Body When You Eat Two Bananas A DayEveryday WellnessUndoEnanow12 Make-up Mistakes You Should AvoidEnanowUndo read more

Endless buys struggling iconic luggage brand Antler from private equity firm LDC

whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoArticles SkillLove Is In The Air Thanks To These Celeb CouplesArticles SkillUndoYourStipIf You Eat Onion Every Day, This Can Happen to Your BodyYourStipUndoSenior Living | Search AdsSenior Care Facilities in The USA Might Surprise YouSenior Living | Search AdsUndo5 Min TricksStick a Rose Into a Potato and See What Happens5 Min TricksUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoMilitary BudChaz Bono Is So Skinny Now And Looks Like A ModelMilitary BudUndoWeniixTop 5 best grand tourers 2021 – WENIIXWeniixUndoFeli CollectionOn The Go Pet Water SupplyFeli CollectionUndo Antler has recently pushed ahead with launching a new line, a lightweight range called Atom which makes use of super-strong material Armordon.The investment is the fourth deal by Endless in a fortnight, after it acquired business travel company CTI, its portfolio company Essential Fleet Services acquired Go Plant, and its smaller Enact fund bought pet food retailer Kennelpak. Wednesday 26 July 2017 10:32 am Share Endless buys struggling iconic luggage brand Antler from private equity firm LDC whatsapp However Endless has a strong track record in turning such businesses around, having made a strong return on investment when it bought the West Cornwall Pasty Company out of administration and later sold it on, and more recently buying Jones Bootmaker and jewellery brand Theo Fennell out of administration.“We are delighted to have invested in this iconic British brand. With fresh investment and hands-on support from Endless, we believe Antler is capable of delivering strong sales and profit growth in the future,” said the firm’s partner Tom Jack.The business now has turnover of £35m, compared to £31.63m in 2014, and employs 280 people in London and across 32 UK retail locations.LDC will retain a small minority stake in Antler, which also owns the Revelation luggage brand.Simon Adcock, LDC’s senior portfolio director, said: “This is a good outcome for all parties. Bringing an external investor on board provides management with an opportunity to deliver their ambitious growth plan, and to further invest in the Antler and Revelation brands both in the UK and overseas in what remains a growing market.” Private equity house Endless, which specialises in moving businesses on after a challenging period, has bought struggling luggage retailer Antler from fellow firm LDC.Since LDC invested in the business in 2010, Antler has been through some tricky periods. In its last filed accounts, for the year ending December 2014, the company made an operating loss of almost £2.8m. Lucy White More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgWhy people are finding dryer sheets in their mailboxesnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comConnecticut man dies after crashing Harley into live bearnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com read more

Commute, coffee, after-work drinks: Londoners spend the most money on work-related expenses

Brighton £350 per month Commute, coffee, after-work drinks: Londoners spend the most money on work-related expenses Construction £43,150 Accounting £34,570 Joe Curtis Liverpool £270 per month Lunch £50.50 Birmingham £210 per month How much did you spend on your lunch today?What about after-work drinks? And getting home?If you’re making daily trips to a trendy new sandwich bar every lunchtime, it might be time to rethink your spending: according to new data, Londoners have the priciest work-related outgoings in the UK. Colleagues’ gifts £5.50 While the average Brit spends £205 a month on work-related expenses, that wouldn’t even get Londoners to work and back if they have a morning coffee, according to CV-Library’s research, which shows they spend £425 per month.This is how costs breaks down across the UK: whatsapp That means Londoners can expect to splash out £5,100 a year on work drinks, lunches, stationery and, of course, the all-important daily caffeine hit.That’s quite a dent in anybody’s wage, but surely we go to work to earn money, rather than spend it?Commuting was the biggest expense across the UK, followed closely by lunch, then morning coffees were the next biggest drain on budgets, followed by work socials and the cost of post-it notes and other stationery. Glasgow £200 per month Bristol £360 per month Automotive £32,680 In the capital, workers spend an average of £175.50 per month on travel and £30.50 per month on coffee.Check below for the London breakdown in full: Lee Biggins, founder and managing director of CV-Library, said the data should at least help people budget better by seeing what they spend their money on most.“It’s important to take these expenses into consideration when you’re looking for a job. That way, you can choose the location, salary and role that’s going to be most financially beneficial to you,” he added. Edinburgh £254 per month London £425 per month Stationery £5.50 Leeds £294 per month External meetings £50.50 Manchester £170 per month Treating co-workers £25.50 Monday 10 September 2018 1:34 pm Cardiff £305 per month Commuting £175.50 Clothes £50.50 IT £44,180 Office snacks £15.50 Social events £15.50 Coffee £30.50 Engineering £35,700 Over two-thirds of staff want their employers to soak up at least some of these costs, CV-Library learned.But Biggins said: “If they’re offering a competitive enough salary, this should cover a number of these expenses anyway. Some costs such as travel can be unavoidable, but professionals must also be frugal to ensure they’re not needlessly spending their wages.”If your expenses are too high for your salary, CV-Library also outlined some of the UK’s highest salaries. Share whatsapp read more

Europe’s capital market must become ‘more resilient’ after Brexit, stock exchange report finds

first_img Share Tuesday 25 September 2018 5:31 pm “We have to make our capital markets stronger and more resilient.”Read more: Activist Hohn reduces stake in London Stock Exchange GroupRomania and Hungary laid claim to the fastest-growing companies on average while German firms held the most patents and trademarks and the most entrants – 160.The manufacturing and engineering sector was the largest represented in the report closely followed by food and drink. Europe’s capital market must become ‘more resilient’ after Brexit, stock exchange report finds whatsapp Tags: Trading Archive   Europe’s capital markets must become “stronger and more resilient” after Brexit to realise the economic potential of the continent’s businesses, a London Stock Exchange report has foundcenter_img Callum Keown Chief executive of the Association for Financial Markets in Europe Simon Lewis said: “The overarching goal of CMU – that Europe’s capital markets become deeper, better integrated and more diversified – remains so important.“With Brexit on the horizon, minimising fragmentation of Europe’s capital markets is more important than ever.”CEO of the Centre for European Policy Studies Karel Lannoo said Europe was struggling to attract major companies, highlighting Spotify’s decision to list in the US.He said: “The increasingly likely advent of a chaotic Brexit in Europe’s largest capital market will not make Europe more attractive.”Anne Sander MEP, from the European Parliament’s economic and monetary committee, said: “In the context of Brexit, the EU has to devote particular attention to the CMU initiative, which is even more important given that the UK is set to depart in 2019. whatsapp The stock exchange has identified the 1000 fastest-growing high-growth potential firms in Europe in a bid to inspire other businesses and entrepreneurs.The top 100 firms have grown by 102 per cent on average in the past three years and innovation has has also reached a high, with nearly 10,000 patents and registered trademarks across the 1,000 companies.Read more: London Stock Exchange executes no deal contingency plansBut industry leaders said the European Commission’s Capital Market Unions (CMU) plan for more integration of cross-border markets was becoming more crucial.Vice-chair of the European Parliament’s economic and monetary affairs committee, Brian Hayes, said the capital markets had not made the “enormous leap we would have hoped for” when the CMU was launched in 2014 to address Europe’s investment gap.last_img read more

MPs call for new tribunal system to help SMEs take on big banks

first_imgFriday 26 October 2018 12:49 am MPs call for new tribunal system to help SMEs take on big banks The Federation of Small Business welcomed the Treasury committee’s proposal, with national chairman Mike Cherry saying: “Too many small firms find themselves between a rock and a hard place: too big for the FOS, too small for the courts.”The FOS can currently only help firms that have a turnover of less than £2million and employ fewer than 10 staff.A FOS spokesperson said: “We help hundreds of thousands of consumers, including thousands of micro-enterprises, to resolve their problems with financial businesses every year and welcome the opportunity to help more SMEs get independent and impartial answers to their complaints.”We will carefully consider the Treasury Select Committee’s report.”The IoD declined to comment on either the Treasury Committee’s findings or last week’s report from its former director general. whatsapp whatsapp Owen Bennett On the need for a new system, Morgan said: “A regulatory black hole for commercial lending to SMEs has led to numerous cases of poor treatment of many small businesses, including the scandalous events at RBS’ Global Restructuring Group.“The Treasury should bring commercial lending inside the regulatory perimeter, allowing the introduction of a regulatory regime that adequately protects SMEs.”The relationship between small businesses and banks has come under the microscope after it was alleged RBS employees were making SMEs go into liquidation to boost the firm’s balance sheet.In 2008, staff at the bank’s Global Restructuring Group were even sent a memo titled “Just Hit Budget” listing various ways to generate income from businesses.In a section headed “Rope” the memo said: “Sometimes you need to let customers hang themselves. You have then gained their trust and they know what’s coming when they fail to deliver.” The Treasury Select Committee is throwing its weight behind establishing a special system for settling disputes involving small and medium enterprises (SMEs) and large banks.The plan goes against recommendations by former Institute of Directors chief Simon Walker, who last week said such a proposal would be too expensive.He backed calls from the Financial Conduct Authority to expand the current services regulator to step in to resolve disputes.Conservative MP Nicky Morgan, chair of the Treasury Committee, claimed the Financial Ombudsman Service (FOS) was not up to the task.She said: “The FOS is under-prepared and under-resourced, so rushing through the proposals will yield little benefit. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBetterBe20 Stunning Female AthletesBetterBeRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USADaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute Workoutzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comBridesBlushWhat The Harry Potter Stars Look Like Out Of CostumeBridesBlush Share Tags: Small business A row is brewing over how to prevent another RBS-style asset stripping scandal after MPs backed a new tribunal system to help small businesses take on banks.last_img read more

£350 for your thoughts: Nutmeg enters financial advice market with budget offering

first_imgHowever, its £12.4m operating loss was up 32 per cent on a £9.4m operating loss in 2016, in part due to regulatory changes such as the Markets in Financial Instruments Directive (Mifid) II regulation.Customers do not need to have investments managed by Nutmeg investors to use the advice service, which opens today. £350 for your thoughts: Nutmeg enters financial advice market with budget offering “As an investor, I would be nervous about taking advice from a habitually loss-making firm. The adviser-client relationship is long-term and there is no guarantee that a business which lost a whopping £12.4m last year will be around to provide ongoing advice in the future.” Online wealth manager Nutmeg revealed plans today to shake up the financial advice market with a low price fixed-fee model. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org The advice service, which will be provided over the phone, will offer a free initial consultation, followed by a £350 charge should the customer want recommendations.The move is a shift away from the common so-called per cent fee model, and is considerably cheaper than the £1,000 to £4,000 annual advice fee that Nutmeg claims is charged by traditional independent financial advisers (IFAs).Lisa Caplan, head of financial advice at Nutmeg, said: “The scarcity of financial advisers, prohibitive costs and an industry happy to neglect swathes of the population, means many people are faced with making big financial decisions on their own.“Too few people know what sort of financial advice is available, how it could help them or where to find it. We want to change that and make financial advice accessible to more people.”Justin Modray, director of Candid Financial Advice, a low cost financial advice service, welcomed the news, saying financial advice is still too expensive. Share A spokesperson from Nutmeg defended its financial position, saying: “Our eyes are not on short term profit, rather on building a long-term business that truly works in the interest of consumers and we’re on track versus our business plan.”“It’s not unusual for VC-backed businesses to make losses in the initial years, Amazon is the often-cited example – and look at them now!”Nutmeg’s 2017 annual results, published earlier this month, showed revenue up 79 per cent to £4.6m. whatsapp Wednesday 31 October 2018 1:53 pm Max Kelly “Too many people still pay far too much for financial advice, so it’s great to see Nutmeg trying to break the mould,” he told City A.M.”I really hope we also see more traditional advisers opting to slash charges and work remotely, as investors deserve a fairer deal.”However, other IFAs said the service would not be comparable to the quality of advice they offer.Martin Bamford, a chartered financial planner and fellow of the Personal Finance Society, told City A.M.: “Financial planners provide an incredibly valuable service that is unrecognisable from the low-budget telephone consultancy approach being offered by Nutmeg.”“But financial advisers should respond to changing investor demand,” he added. Tags: Trading Archive whatsapplast_img read more

Creative sector drives growth in October office space take-up as pre-let activity jumps

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastCrowdy FanKaley Cuoco Net Worth Left Her Billionaire Husband SpeechlessCrowdy FanMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It Loveinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.com Tags: FinTech Sunday 25 November 2018 8:10 pm Nicholson said: “One notable feature of the market is the increase in pre-letting activity, reaching a five-year high with 3m sq ft of deals so far this year. This has further depleted the development pipeline, with 52 per cent of all space under construction already let or under offer.”Fresh evidence of the rising demand for flexible office space also emerged, with the sector taking 122,300 sq ft of space during the month, bringing the proportion of take-up represented by the flexible office sector in the last 12 months to 19 per cent. Share whatsapp Sebastian McCarthy center_img Firms committing to new office space before construction has finished also soared, with pre-letting activity hitting a five-year high in the year-to-date.Appetite for new space largely came from London’s creative sector, which accounted for nearly 20 per cent of all deals that were signed in October. The largest deal of the month saw US ad agency McCann Erickson take 146,400 sq ft at 135 Bishopsgate in the Square Mile’s eastern cluster.Such figures underline the growing demand among advertising and fintech firms for more space in Central London during the last 12 months, with many moving closer to the City in a bid to help boost their financial expansion.“October saw another strong month of take-up,” according to James Nicholson, head of City occupier advisory & transaction at CBRE. Take-up of Central London office space surged last month, with demand from the UK’s creative sector helping to drive growth in the capital’s commercial property market.Roughly 1.3m square feet (sq ft) of office space was let in October, marking a 30 per cent rise on the same month last year, according to new data from real estate advisor CBRE. Creative sector drives growth in October office space take-up as pre-let activity jumps whatsapplast_img read more

The Lords have spoken: It’s time to fix RPI and reform the way we measure inflation

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostUndoTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyUndobonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comUndo So having accurate measures of inflation is important for everyone, not just for statistical geeks like me.The Lords’ report takes the UK Statistics Authority (Uksa) to task for failing to maintain the Retail Prices Index (RPI) as a good measure. This has led to the index consistently overstating inflation, particularly in clothing.Uksa had argued that RPI was RIP, and that it should not be used as a metric. But the RPI measure is embedded in many contracts, especially government bonds, so this is not realistic.The Lords note that, as a result of the poor quality of the statistic, those who hold RPI-linked government bonds got an undeserved windfall from the taxpayer – perhaps of £1bn a year.Meanwhile, others, such as students and commuters, have lost out, as loan interest and train fare increases are linked to RPI. whatsapp whatsapp On Thursday, the House of Lords Economic Affairs Committee published an unusually strongly worded report about what seems like a relatively dry and technical topic: how we measure inflation.Let me stop you before you switch off – the calculation of inflation matters, because it affects all sorts of prices that you pay, from rail fares to student loans to your mobile phone contract. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.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.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Lord Forsyth, chair of the Economics Affairs Committee, said: “The UK Statistics Authority’s refusal to fix the problems it admits RPI has is untenable. By continuing to publish an index which it admits is flawed, it is arguably in breach of its statutory duty to promote and safeguard official statistics.”Strong stuff – and it’s hard to see how Uksa can now avoid biting the bullet and fixing RPI.The Committee also took a swipe at the way that the government cherry-picks between inflation measures – often using the lower Consumer Prices Index (CPI) as the metric when it has to pay out, and RPI (which is usually significantly higher) for when it is taking money from people.This is a problem which I’ve highlighted in these pages before, and it’s good to see the Lords raise it.The Lords’ instincts are basically along the right lines, except in one area. In their quest to end inflation cherry-picking, they recommend that we move to a single measure of inflation for government. 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.center_img Thursday 17 January 2019 8:55 pm The Lords have spoken: It’s time to fix RPI and reform the way we measure inflation Tags: Trading Archive Opinion I can understand their motivation, but statisticians will tell you that different measures are useful for different things.CPI is particularly good for macroeconomic decision-making, like setting interest rates. But there’s also a need for a “cost of living” type measure – such as the Office for National Statistics’ Household Cost Indices.It is true that multiple indices make it more tempting for the government to switch in an underhand way, but we should compel politicians to justify their decisions, and shout loudly if they are being sneaky.We should welcome the ermine-clad Lords’ report. Bad quality or poor use of statistics lead to unfair outcomes and damage trust in government. In an era of “fake news”, reliable official statistics are more important than ever to hold the government to account. Hetan ShahHetan Shah is chief executive of the British Academy. Sharelast_img read more