Growth in the United Kingdom construction sector fell to the lowest rate in nearly three years in April, as uncertainty over the result of the EU referendum and the stagnation of new business hit productivity. According to Markit, the trend is likely to continue into the coming months as uncertainty over the wider economy remains in place.
A study has found that fathers out-earn childless men by more than a fifth, whilst the effect is reversed for mothers. The study was commissioned by think tank IPPR for the Trade Union Centre (TUC), and was based on 17,000 people.
The Office for Budget Responsibility (OBR) has said that it expects household debt to carry on growing in size until at least the end of the decade. Official forecasts indicate that weak pay growth coupled with low interest rates is likely to provide households with a means to continue to live beyond their financial comfort zone, and the fiscal watchdog said such a long period of this would be “unprecedented”.
The number of workers on zero-hours contracts has increased to its highest ever level since figures were recorded, according to a report by the Office for National Statistics (ONS).
The eurozone slipped back into deflation in February, as new figures showed that consumer prices fell by 0.2%. The figures are a surprise, given that inflation increased by 0.3% in January. Additionally, this is the first fall in inflation since September.
Big banks have too much control over the systems that allow customers to pay for things and should loosen their stranglehold on the market, according to the Payment Systems Regulator.
Parents in their 50s may see their inheritances diminished as their older parents use their assets to assist grandchildren or pay for their own social care needs, according to a report from the Social Market Foundation (SMF).
Cyber criminals are stealing money by hijacking peoples HMRC self assessment records. Fraudsters are using “phishing” techniques to gain personal information, such as taxpayers HMRC login details.
The introduction of Universal Credit (UC), which will combine six different types of benefits into one monthly payment, will leave working families worse off, according to the Institute of Fiscal Studies (IFS).
FTSE 100 retailer, Sports Direct, has issued a warning regarding profits after poor trading over the Christmas period. Shares in the company fell by more than 15 per cent after the warning was issued, dealing a blow to the fashion and sportswear retailer.