Wednesday, January 16News For London

economy

UK economic slows, rising question of economic health after Brexit

UK economic slows, rising question of economic health after Brexit

Business, economy
After a growth over the summer, Britain’s economy lost its speed in three months to October, latest official data shows. According to the Office for National Statistics, GDP grows by 0.4 per cent from July to October, coming down from 0.6per cent, the rate of the third quarter of the year. In October, the GDP growth is 0.1 per cent. The increases are roughly flat in the three most recent month, August, September and October. “The latest data confirm that UK GDP growth is slowing after a strong performance in the middle of the year, and the risks appear to be to the downside ” Garry Young, head of macroeconomic modelling and forecasting at NIESR recommends. In this three months, services sector, with a 0.3 per cent growth, and construction sector are the main contributors to GD
Homelessness: Is contactless the solution?

Homelessness: Is contactless the solution?

Breaking News, Charity, economy, Health, Housing, London, London Mayor, News, ReportingWeek1, ReportingWeek2
Despite being one of the richest countries in the world, the United Kingdom faces a growing issue with homelessness. Many charities collect money and support those without a home but unfortunately, they fail to reach everyone in need. Stephen, 55, an ex-serviceman from the armed forces, represents a soundboard for many who have lost faith in charity. He is of the opinion that charities cheat people in the name of donation. “I would love to know where the money goes. But I already know where it goes. It goes for wages and it’s all a con. That is all it is. You’ve got the Royal British Legion. Last year they raised 42 million pounds. But it never went to the ex-servicemen. 75 percent of the people that live on the street are ex-forces. We are in a society now. We’re being lied to.”
Sluggish job market: Where do media graduates stand?

Sluggish job market: Where do media graduates stand?

Breaking News, economy, International, London, Media, News, Opinion, ReportingWeek1, Social media, Student, Technology, trends
Education has become of utmost importance globally and continues to grow. This is evident in the UK as the number of recent graduates have increased from 22% in 2002 to 40% in 2017. However, the number of entry level jobs is not rising at the same pace. As of March 2018, information and communication jobs are less than half in comparison to wholesale and retail trade jobs. Considering London’s significance as a media hub, it is startling that half of its population is comprised of graduates yet it has the highest unemployment rate in the UK. Abby and Holly, employees of a talent agency in advertising, shed some light on the matter. We asked them if they would prefer much younger and fresher faces in media instead of the older, accomplished presenters, Holly said: “I would pro
ICAN bags the 2017 Nobel Peace Prize

ICAN bags the 2017 Nobel Peace Prize

Business, economy, Environment, EU investment, EU talents, International
A civil society network ICAN representing of over 450 organisations in one hundred countries, was awarded the Nobel Peace Prize for 2017. ICAN ,Co-Chair ,Rebecca Johnson, said:“Our international network has worked so hard to ban and eliminate nuclear weapons.   The nuclear threats being issued by President Trump and North Korea remind us that nuclear sabre rattling can lead to nuclear war through arrogance or miscalculation”. “ICAN collaboration with the British civil society for nuclear disarmament for many years had brought in to limelight that the Nobel Award encourages efforts to persuade the British government to sign the UN Nuclear Prohibition Treaty, cancel Trident and take the lead to eliminate all of these abhorrent weapons of mass destruction,"said Johnson. The global tr
Uber’s appeal will not be heard until Spring 2018

Uber’s appeal will not be heard until Spring 2018

Business, economy, London, London Mayor, News, Tech, Transport
Uber's appeal against TFL’s decision, to not renew their licence will not be heard until the spring of 2018. Judge Emma Arbuthnot proposed two dates, April 30 or June 25th for the five-day trial at Westminster magistrates court on Monday morning. TFL’s decision came after the company was declared not “fit and proper” after a series of failures over passenger safety. TfL said that the company’s approach and conduct “demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications.” The company is in the process of repairing its reputation after they were hit with several controversies including harassment and a data breach that is thought to have affected millions. Chief executive Dara Khosrowshahi fle
Cryptocurrency: Dawn of a new economy?

Cryptocurrency: Dawn of a new economy?

economy, Technology, Uncategorized
The rise of cryptocurrency has become a popular method of payment as it’s growingly accepted across London. Imagine a time where carrying a wallet of cash is rendered useless, where figuring out what to do with all that change the cashier gave you isn't an annoyance. Transferring funds worldwide instantly becomes as easy as a tap of the screen. There is a new age on the horizon ‘a cashless society’ and its increasingly becoming popular capturing the imagination of some, striking fear among others, and confusing the rest of us. Today, London is a recent addition to the ever-growing list of destinations where retailers and traders have began accepting bitcoin. The enthusiasm and fascination of cryptocurrency provoked a massive increase in users. until recently users were quite limited to
1 in 5 UK citizens living in poverty

1 in 5 UK citizens living in poverty

DontUse, economy, London, News, Uncategorized
One in five people in the UK, approximately 14 million people, are living in poverty, a study has revealed. Over 8 million working-age adults, 4 million children, and 1.9 million pensioners in the UK do not have the means to survive day-to-day life. The report, published by the Joseph Rowntree Foundation, examined poverty trends in the UK over the last two decades, including state support for families and people living on the brink. Working class adults make up the largest section inflicted by poverty. 47 per cent of UK workers spend more than a third of their income, including housing benefits, on rent and maintenance. More than a third of these have to supplement their income outside of immediate work in order to meet housing costs. Conditions are not better off for family units: p
Bacon assumes TfL and Uber are headed towards negotiations

Bacon assumes TfL and Uber are headed towards negotiations

Bus, economy, EU investment, EU talents, International, Media, News, Transport, Travel, Tube
“Uber and TfL are headed towards a negotiation” said Conservative Party Member Gareth Bacon. “I personally think that Uber will offer a concession which TfL will probably accept”, said Bacon. Speaking at City Hall, Sadiq Khan said, “Uber has taken a U-turn but it is important all companies in London to play by the rules and adhere to the high standards expected”. Uber had its license revoked by Tfl claiming that the approach and conduct of the transport service demonstrates a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications. According to the 15th mayor’s report to the London Assembly, the allegations against Uber include its approach to reporting serious criminal offences, explaining the use of Greyb
Khan worried about Brexit Squeeze

Khan worried about Brexit Squeeze

brexit, Business, economy, EU investment, EU referendum, International, Politics
The Mayor advocated London to become a member of the EU at the Mayor’s question time, held at City Hall on Thursday. Sadiq Khan said: “The cost of Brexit may have high possibilities of a negative outcome since the period during the Brexit negotiations the pound has devalued”. He further said: “Inflation rates have risen from 0.5% to 2.9%, cost of businesses have rapidly increased passing the cost on to consumers while the wages remain stagnated resulting in a rise in the cost of living.” Khan said: “Amongst the countries in the G7, UK tops for inflation rate and Brexit’s having a negative toll on businesses in London relying on supply chains across Europe so will the government set aside the party interest and push together the interest of London”. “People are feeling the Brexi
Olympic Legacy: Gold and Dust

Olympic Legacy: Gold and Dust

Culture, DontUse, economy, Environment, Housing, News, Politics, Radio, Sport, Transport
From July 25 to August 12, London hosted the XXX Olympic Games. The event was introduced by local and national authorities as an unmissable opportunity to transform the city. East London was to become a symbol of the city of the future, with affordable homes, open green spaces and sustainable means of transport. The Queen Elizabeth Olympic Park was designed and built in a huge junction between the London Boroughs of Hackney, Newham and Tower Hamlets. Massive public investments were promised to provide the communities with social, cultural and sporting facilities. An old, traditional and active industrial area was evicted. Following a controversial compulsory purchase, dozens of businesses were forced to leave and hundreds of neighbours were relocated. Around £10bn were spent. Fi