techkenyot.com
techkenyot.com October 16, 2018


British companies plan for minimum wage hike

15 February 2018, 08:19 | Hattie Nash

British companies plan for minimum wage hike

British companies plan for minimum wage hike

While the stickiness of inflation will make for itchy trigger fingers among rate setters at the Bank of England, the signs of the economy faltering suggest there's a risk of higher interest rates exacerbating a nascent slowdown.

According to the February update, private sector business leaders are expecting an average pay settlement rate of 3.1 per cent in 2018, compared with 2.6 per cent past year.

The data come on the heels of recent warnings from the Bank of England that interest rates may have to be hiked more aggressively than previously thought in order to control inflation, putting a May hike in play.

British companies plan for minimum wage hike
British companies plan for minimum wage hike

Wage growth in Britain has been lacklustre since the financial crisis. The largest increases are planned in the service sector, where the highest number of people receives wages close to the minimum.

Britain's minimum wage for those aged 25 and over is due to rise by 4.4 percent in April to 7.83 pounds ($10.85) an hour, while pay for some younger workers will rise by over 5 percent.

The Central Bank report also shows that businesses feel pressure from higher mandatory pension contributions, increased inflation, the lack of foreign workers, and difficulties in recruiting and retaining staff.

Pakistan SC issues arrest warrant against ex-envoy to US
Such "political" warrants had not been honoured overseas in the past and it would not work now, he added. That it disrupted lives without a conclusion is a sad reflection on how things work in Pakistan.

"Expectations that the Bank of England will raise interest rates in May will likely be fuelled by their regional agents reporting a pick-up in companies' expected average pay settlements", economist Howard Archer at consultants EY Item Club said.

The rate had hit 3.1 per cent in November, which was the highest level in nearly six years. The financial markets are even set for another rise before the end of 2018.

Mr Holman said: "We think the current speed limit of the United Kingdom economy is annual growth of around 1.5 per cent but our latest forecast suggests it is on track to grow a bit faster than that".

Occidental Petroleum Corporation (OXY) vs. Anadarko Petroleum Corporation (APC)
Valvoline Inc. (NYSE:VVV) shares were trading lower by -0.21 percent ($-0.05) at $23.39 a piece in Tuesday's session. (NYSE:TWX). Fis Group Inc. acquired a new position in shares of Anadarko Petroleum during the 3rd quarter worth approximately $107,000.

A PMI index of price pressures constructed from indicators of input costs in manufacturing, services and construction, blended with the manufacturing PMI suppliers' delivery times index (which acts as a proxy for the amount of spare capacity in the economy), clearly highlights how price pressures have intensified in recent months, up to a level which is historically commensurate with tighter monetary policy.

"While we expect at touch softer reading of 2.9 percent y/y, we think that the core rate might inch higher by 0.1ppt to 2.6 percent y/y in January, which would support our thinking that a Bank Rate rise may now be likely in May", Daiwa Capital Markets commented in its latest report.

James Beard semifinalist is out: Charlotte isn't out of the running yet
We should pursue it with a ... "A great honor been nominated for a James [Beard] Award", Rojas posted on Facebook today. Cure , the Freret Street cocktail purveyor, was nominated for a third time for best bar program.



Other News

Trending Now

Stocks Sparking Bullish Stampede across Wall Street: The Coca-Cola Company (NYSE:KO)
Hyman Charles D reported 1% stake. 1,083,726 shares of the stock were exchanged, compared to its average volume of 1,804,261. Oakbrook Investments Limited Liability Co holds 0.23% of its portfolio in The Coca-Cola Company (NYSE:KO) for 79,074 shares.

Trump says he's 'totally opposed' to domestic violence
And the West Wing's bungling of the Porter case has led to speculation that chief of staff John Kelly's job may be in jeopardy. Mulvaney told "Fox News Sunday" that everyone in the White House, including Trump, was pleased with Kelly's performance.

Valeant Pharmaceuticals International, Inc. (VRX) stock returned 25.82% positive in past quarter
Analysts await Autodesk, Inc. (NYSE:VRX) trade is getting exciting but lets take a deeper look whether it is as good a moment. ValueAct Holdings L.P. grew its holdings in shares of Valeant Pharmaceuticals International by 20.0% in the 1st quarter.

Terps Edged at Nebraska
Nebraska needs to dial up the offensive pace and defensive intensity on Maryland's guards and wear them down from the jump. Maybe the most important matchup tonight will be Nebraska's perimeter defense against Maryland's 3-point shooting.

Capcom Releases Trailer For Devil May Cry HD Collection
This is a limited-time offer, but Capcom hasn't yet specified how long the promotion will run for or when it will end. Afterwards, players will be able to purchase the full collection through the Twitch Desktop app.

Online Petition Calls For a Rollback on Snapchat's Latest Update
Snapchat founder Evan Spiegel wrote in a blog post that he believed blurring the two had contributed to the rise of fake news. Snapchat its statement about the development said that new updates usually "can take a little getting used to".

Immigration deal reached by group of Senators
Udall's spokeswoman, Jen Talhelm, said Wednesday that the senator "has voiced support" for an immigration bill introduced by Sens. It is the favorite of McConnell, who has consistently plugged it as the only proposal that has a chance of being signed into law.

Analysts Set Occidental Petroleum Co. (OXY) Target Price at $70.07
Boys Arnold & Co Inc decreased its stake in Abbott Labs (ABT) by 10.68% based on its latest 2017Q3 regulatory filing with the SEC. The stock has a market cap of $52,174.43, a PE ratio of 100.21, a price-to-earnings-growth ratio of 4.37 and a beta of 0.53.

Tillerson says Hezbollah actions threaten Lebanon, region
The US Secretary of state is on a five-day regional tour taking in Lebanon as well as Egypt, Jordan, Kuwait and Turkey. US President Donald Trump has been tough on Hezbollah, imposing new sanctions created to damage Iran and its allies.

Trump Administration: Food box instead of food stamps
The benefit represents about $1.40 per meal, according to Hunger Free Colorado public policy director Katharine Ferguson. States would have flexibility in how they choose to distribute the food to SNAP recipients.