Unemployment figure sticks at lowest since 1975, but wage pressure continues

Miranda Wadham
-
0
Unemployment figure sticks at lowest since 1975, but wage pressure continues

The UK unemployment rate fell by a further 75,000 in the three months to July, maintaining the rate’s lowest level since 1975.

The jobless rate now stands at just 4.3 percent, according to the latest statistics from the Office for National Statistics, down from 4.4 percent in the previous quarter.

There were 32.14 million people in work in the three months to July, 181,000 more than for February to April 2017 and 379,000 more than for a year earlier.

  The employment rate is currently at its highest since comparable records began in 1971. However, despite the fall in unemployment, the squeeze on real incomes continues as the latest inflation figure, released yesterday, continues to rise. Matt Hughes, a senior ONS statistician, said: “Another record high employment rate and a record low inactivity rate suggest the labour market continues to be strong. “In particular, the number of people aged 16 to 64 not in the labour force because they are looking after family or home is the lowest since records began, at less than 2.1 million. “Despite earnings rising by 2.1 percent in cash terms over the last year, the real value of people’s earnings is down 0.4 percent.”

Modern Water shares sink despite increases in both revenue and profit

Miranda Wadham
-
0
Modern Water shares sink despite increases in both revenue and profit
Water technologies group Modern Water (LON:MWG) saw shares sink 6 percent on Wednesday, despite boosts to both revenue and profit. Group revenue increased 37 percent to 1.56 million, with group gross profit increasing by 15 percent to £0.67 million. Group overheads were also reduced, down by 4 percent to £2.08 million in line with management strategy. £1.75 million raised from issue of new shares, with the group’s chairman, Alan Wilson, saying the fund raise had achieved the Board’s objectives. “We are now able to make further investment in our growth and accelerate our work in developing new products, which are already taking shape in the USA. “The impressive performance of our All Membrane Brine Concentrator (AMBC) in the cleaning of process waste-water for an Indian-based textiles company was widely marketed and has encouragingly resulted in new enquiries from companies in a range of countries and industrial sectors. We are also beginning to see increasing market interest in our other membrane technologies, with sales of licences and products in China, India and Oman”, Wilson said. Shares in Modern Water are currently trading down 4.44 percent at 10.81 (1040GMT).

MyCelx shares jump 50pc on first half results

Miranda Wadham
-
0
MyCelx shares jump 50pc on first half results
Shares in clean water technology company Mycelx (LON:MYX) jumped over 50 percent on Wednesday, after recording a strong set of results for the first half of 2017. The group, who provide patented solutions for the oil and gas market and commercial industrial markets worldwide, recorded a 51 percent increase in revenue year-on-year to $5.9 million. EBITDA stood at $0.3 million, with a gross profit margin of 52.2 percent. Mycelx won several contracts during the six month period, including its first contract in Nigeria to provide an onshore water treatment solution to a leading independent oil and gas producer, and a $1.1 million contract in Saudi Arabia. Connie Mixon, CEO, said the company had made “good progress” in the first half of the year, adding: “It is pleasing that we are now beginning to see the benefits of our 2016 pilot trial strategy come to fruition with our entry into the Nigerian market where we have sold a complete treatment system for an onshore facility. “Our technology will deliver sustainable water treatment for years to come”, she concluded. Shares in Mycelx shot up 50 percent on the news, but are now trading down 9.5 percent at 90.50 (1022GMT).  

Industry heavyweights give major funding boost to creative agent Easle

Miranda Wadham
-
0
Industry heavyweights give major funding boost to creative agent Easle
Online creative platform Easle has obtained £450,000 in seed funding from industry heavyweights ustwo and Ian Hambleton of Studio Output, in order to expand its creative platform. Easle aims to offer a new way for high quality creative talent from around the world to connect with brands, already attracting businesses such as Ogilvy, Diageo and Penguin Random House. With over 200 clients already signed up, Easle provides a part-tech, part-human service offering a new way for brands, agencies and businesses to discover high quality creative talent from around the world. Search, negotiation, briefing, contracts and payments are built into the platform, but experts are available to provide support, and help find the right talent to suit client needs. This allows Easle to operate at lower costs than competitors whilst retaining a high calibre of talent. Having successfully trialled the platform with illustrators, Easle will use the funding to expand the platform to include Graphic Design, Animation, Photography and Videography, build an app and further develop their offering. “Our focus is on bringing the top creative talent and brands together to make great work. With the expansion, we plan to really disrupt the traditional agency-talent model across the board. Eventually we aim to become a hub for inspiration and collaboration across a huge range of disciplines,” said Nick Gubbins, Easle CEO and Co-Founder. The service directly responds to the soaring increase of freelancers who now contribute over £20 billion to the UK Creative Economy. Over time, Easle aims to provide tools to support its customers and creator’s day to day working lifestyle such as managing finances and accounts, as well as more specific tools to assist with flexible working.

UK inflation rate rise may divide Monetary Policy Committee

Miranda Wadham
-
0
UK inflation rate rise may divide Monetary Policy Committee

The UK’s inflation rate hit its joint highest level in more than five years in August, driven by rising clothing and petrol prices.

UK inflation measured by the Consumer Prices Index rose to 2.9 percent in August, according to statistics from the Office for National Statistics released on Tuesday, up from 2.6 percent in July. Air fares rose between July and August, alongside a jump in clothing and motor fuels prices. Clothing and footwear rose 4.6 percent year-on-year, hitting their highest level since records began, partly because of rising import costs for retailers in the wake of Brexit. The inflation figure are likely to have an impact on the Bank of England’s decision on monetary policy, with the Committee meeting later this week to discuss the interest rate. Capital Economics is predicting a split within the MPC, with economist Paul Hollingsworth saying: “[The] figures are likely to provide further ammunition to the more hawkish members of the MPC at this Thursday’s meeting, and as a result we expect the vote to be split once again.” However, he added: “With mixed signals on the current strength of the economy and the majority of the Committee appearing to be comfortable with a temporary, exchange-rate driven pick-up in headline inflation, we don’t think that the MPC will be panicked into raising interest rates imminently.”

Associated British Foods share price sinks 5pc despite strong performance

Miranda Wadham
-
0
Associated British Foods share price sinks 5pc despite strong performance
Shares in Associated British Foods (LON:ABF) fell over 5 percent on Monday, despite its Primark business showing strong results for the full year to September. The group said it expected to report good growth in adjusted operating profit and earnings per share for the year, with an improvement in the group’s previous expectation for full year underlying operating profit. It confirmed that performance at Primark was “well ahead of last year”, after the chain enjoyed good trading in the run-up to Easter. Like-for-like sales, excluding new store openings, rose 1 percent over the full year.

Primark’s full-year operating profit margin was forecast to be better than the first half’s 10 percent, ahead of previous guidance. AB Foods expects to end the year with net cash of £650 million, compared to net debt of £315 million pounds the previous year.

Sterling’s weakness had a net £85 million benefit for the group as a whole, with two-thirds of the group’s profits coming from outside the UK.

Despite the strong results, shares in AB Foods are currently trading down 5.21 percent at 3,208.00 (1006GMT).

GBP/USD hits 1-month high as dollar weakness continues

Raymond Jones
-
0
GBP/USD hits 1-month high as dollar weakness continues
GBP/USD hit 1.3158 on Friday, the highest level since 4th August driven by a continued weakness in the US dollar. Cable is up over 350 points since 24th August as fears over Trump’s presidential competency is questioned and geopolitical tensions rise. Hurricane Irma is barreling towards Florida and the potential devastation is driving investors out of the greenback as the chance of a December rate hike falls. In addition, there are concerns North Korea is planning another missile test over the weekend which will likely lead to further condemnation from the US. Outlook Despite the rally, investors are still cautious about the outlook of GBP/USD as the UK navigates Brexit negotiations. “The pound faces a number of potential stumbling blocks in the weeks ahead,” said Simon Derrick, market analyst at Bank of New York Mellon.

Time to invest in oil?

Raymond Jones
-
0
Time to invest in oil?

With oil prices remaining low, is it time to start investing for a recovery?

Download this investment summary to discover the key fundamental driving oil and the assets set to benefit from an increasing demand for oil over the coming years.

This investment summary includes:

⇒Key fundamentals of North American oil market

⇒Opportunites for future expansion in the sector

⇒Potential synergies between oil infrastructure and gas supply

⇒How you can make targeted investments in oil

Download Investment Summary Now:

Terms, Risk Warning & Disclaimer:

Although the author and publisher have made every effort to ensure that the information in this publication was correct at press time, the author and publisher do not assume and hereby disclaim any liability to any party for any loss, damage, or disruption caused by errors or omissions, whether such errors or omissions result from negligence, accident, or any other cause. Investments can go up in value as well as down, so you could get less than you invested. This information does not constitute personal advice and you should speak to your financial advisor before committing to any pension product. Information in this document is for reference use only and its accuracy cannot be guaranteed and is subject to change.

UK Investor Magazine does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this guide, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions. Not all companies or products mentioned in this guide are necessarily regulated by the Financial Ombudsman Service and, as such, you may not have access to statutory or regulatory protections such as the Financial Ombudsman Service and the Financial Services Compensation Scheme.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

By submitting your details, you are agreeing with our privacy policy. In addition to this and to facilitate the delivery of your book/guide or report, your details will be passed to the sponsor of this free offer. By requesting a book and agreeing to our privacy policy, you are agreeing to be contacted by the book sponsor. The book is intended for educational and informational purposes only. It should not be construed as giving investment advice and you should not rely on any content within this book in making or refraining from making any investment decisions.

This offer and advert has been issued and approved by Noble Energy Partners, 40 Gracechurch Street, London, EC3V 0BT.

Alternative Investment Forum returns to London with spotlight on agriculture

Miranda Wadham
-
0
Alternative Investment Forum returns to London with spotlight on agriculture
The Alternative Investment Forum will be returning to London in October for the 9th year in a row, offering investors insight into alternative investment options. This year the forum will focus on the agriculture sector, presenting the opportunities available to investors willing to think outside the box. The dynamic two day event will be packed with 1:1 meetings and in-depth presentations, with key themes including sustainable and impact investing, the impact of climate change and liquidity risks. As the post-crisis years continue to drive investors towards a broader range of more innovative ways to invest, both timberland and agriculture are considered to be real assets. The forum will take place across two events, the Timber Invest Europe Forum and the Global Agro Invest Forum. Both bring together major pension funds, family offices, sovereign wealth funds, endowments, insurance companies and charities to discuss the unique investment opportunities presented by the sectors. Anne-Marie Mongan, the event’s producer, said: “The Alternative Investment Forum is a unique platform for investors to discover how timber and agriculture assets can fit into their wider portfolio. The Forum enables both new and seasoned investors in this space to conduct 1:1 meetings with Funds, consultants, forestry management companies and other service providers who can help them meet their investment goals.” Participants in the 2017 programme include the World Bank, FAO of the United Nations, European Bank for Reconstruction and Development (EBRD) and many more. For more information click here. To register click here and use priority code MK-MP to secure your place.

Average house price up 1.1 percent in August as market picks up

Miranda Wadham
-
0
Average house price up 1.1 percent in August as market picks up
UK house price growth continued to rise last month, as the number of properties on the market shrunk and employment growth provided a boost to the sector. The average price of a house rose by 1.1 percent to £222,293 in August, according to the latest figures from Halifax, with the market seeing an annual increase of 2.6 percent.
This figure is up from an annual rate of 2.1 percent in the three months to July, which was a four-year low.Russell Galley, the Halifax managing director, said: “Recent figures for mortgage approvals suggest some buoyancy may be returning, possibly on the back of strong recent employment growth, with the unemployment rate falling to a 42-year low. Alex Michelin, co-founder of CapitalRise, the property investment firm, commented on the figures:
“Aspiring home-owners shouldn’t see today’s increase in UK house prices as bad news, but view it as an opportunity. The fact that there is still a rise in prices demonstrates the resilience of the property market in the UK, despite all the negative headlines about Brexit. “While the stock and bond markets appear overvalued and vulnerable to political events and economic uncertainties, property in the UK remains strong and a great place for investors to place their money.
“The property market offers a strong, stable and tangible asset, and with areas like Kensington, Chelsea and Westminster in London remaining Britain’s most expensive postcodes, these are prime areas to invest in. Overall, our confidence in UK property investment remains high, with our team of experts continuing, to invest their personal money in British prime real estate”, Michelin concluded.
1...1,5761,5771,578...1,760Page 1,577 of 1,760