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Tuesday, October 16, 2018

Wage Growth 3.1% - Fastest In Ten Years

As per the ONS
  • Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 3.1% excluding bonuses, and by 2.7% including bonuses, compared with a year earlier.

  • Latest estimates show that average weekly earnings for employees in Great Britain in real terms (that is, adjusted for price inflation) increased by 0.7% excluding bonuses, and by 0.4% including bonuses, compared with a year earlier.
The number of people in work remains at a near-record high, while the unemployment rate is at its lowest since the mid-1970s

Friday, October 12, 2018

Tuesday, October 09, 2018

Greece Tries It On With Germany

Monday, October 08, 2018

Italy Undermining The Euro

Thursday, October 04, 2018

Greece Is Tanking Again

Wednesday, October 03, 2018

Late Payment Director

The government has come up with this bollocks idea that is a waste of time and money.

The responsibility for the efficient and effective management of the finances of a company falls under the remit of the CFO. Regarding the specific issues of payment of suppliers, that comes under the remit of the Purchase Manager who reports to the CFO.

Large companies pay SMEs late, not because they are inefficient, but because it is a matter of policy to delay payment to SMEs. A change will only occur when the board deems it necessary!

Tuesday, October 02, 2018

Italy Rocks The Euro Boat

Friday, September 28, 2018

Companies House’s Top Excuses for Late Accounts

Companies House’s list of the ten most bizarre excuses for late accounts

1. Goats ate my accounts
2. I found my wife in the bath with my accountant
3. Pirates stole my accounts
4. We delivered the accounts to the betting office next door to Companies House
5. A volcano erupted and prevented me from filing
6. Slugs ate my accounts
7. It was Valentine’s Day
8. My company was more successful than I thought that it would be, so I was too busy to file

Source: AccountingWeb

SEC Files Lawsuit Against Musk

The Securities and Exchange Commission has filed a lawsuit accusing Tesla CEO Elon Musk of securities fraud.

The SEC says Mr Musk's claims that he had secured funding to take the electric carmaker private were "false and misleading".

It is seeking to bar Mr Musk from acting as an officer or director of a publicly traded company.

Mr Musk called the action "unjustified" saying he acted in the "best interests of truth, transparency and investors".

As per the BBC:
"Integrity is the most important value in my life and the facts will show I never compromised this in any way."
Tesla's board of directors said in a statement that they were "fully confident in Elon, his integrity and his leadership of the company".

Leave corporate communications to the lawyers and professionals!

Thursday, September 27, 2018

Goldman's 1.5% Savings Account

Has the Vampire Squid changed its spots?

Tuesday, September 25, 2018

Inflation Expectations Rise

Reuters reports that public inflation expectations for the next 12 months rose to 2.9 percent in September from 2.7 percent in August. Longer-run inflation expectations for the next 5 to 10 years rose to 3.4 percent from 3.3 percent.

We shall see.

Friday, September 21, 2018

NatWest Systems Crash

Customers of RBS, NatWest and Ulster Bank are currently unable to access their accounts through the banking group's online and app platforms.

Yesterday it was Barclays today its NatWest, something very odd is happening!

Wednesday, September 19, 2018

China's "Nuclear" Option In The Ongoing Trade War

The problem for the USA comes when China has run out of "trade bullets", and opts for the nuclear option and starts to dump US treasuries!

Inflation Rises To 2.4%

As per the ONS
  • The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.4% in August 2018, up from 2.3% in July 2018.
  • Rising prices for a range of recreational and cultural goods and services, transport services and clothing produced the largest upward contributions to the change in the rate between July and August 2018.
  • Partially offsetting downward contributions came from furniture and household goods, and telecommunications; prices for these rose between July and August 2018 but by less than a year ago.
  • The Consumer Prices Index (CPI) 12-month rate was 2.7% in August 2018, up from 2.5% in July 2018.
Transport continues to make the largest upward contribution to the rate, with prices rising by 6.0% in the year to August 2018, the highest 12-month rate since April 2017. The largest contribution within the transport group continues to come from motor fuels.

Tuesday, September 18, 2018

Trade Wars Worsen