UK state pensions ranked the worst in the developed world

The British state pension is now worst in the developed world as it has fallen below Mexico and Chile, data shows. An average worker entering the UK workforce today can expect to receive less than a third (29 per cent) of their final working salary as a basic pension income after tax, according to a […]

EU members approve post-2020 CO2 market reform deal

Representatives from EU member states Wednesday approved proposed changes to the EU Emissions Trading System, following an informal agreement reached November 8 between the EU Parliament and Council. “The ETS reform will help the EU to deliver on its target of cutting greenhouse gas emissions by at least 40% by 2030, as agreed under the […]

U.K. predicts worse growth, earmarks cash for hard Brexit

Prime Minister Theresa May’s under-fire government acknowledged the U.K. economic outlook is deteriorating as it set aside an extra 3 billion pounds ($4 billion) to prepare for all possible Brexit outcomes. Opening his Budget speech in Parliament on Wednesday, Chancellor of the Exchequer Philip Hammond said the Office for Budget Responsibility now sees 2018 economic […]

Germany’s economy powers into year-end amid political uncertainty

Angela Merkel, Germany's Chancellor

Germany’s economy is probably strong enough to shrug off the country’s dive into political uncertainty for now. The collapse of coalition talks has cast a shadow over Chancellor Angela Merkel’s ability to provide stable leadership for Europe’s most powerful nation, just as the region seeks stronger integration. Yet the turmoil in the capital of Berlin […]

Skills shortage tightens around UK construction sector

Britain’s shortage of surveyors, bricklayers and other construction workers is holding back building work just at the time when the country needs more houses and infrastructure. Almost two-thirds of surveyors said a lack of skilled workers is a key factor limiting building activity, according to the Royal Institute of Chartered Surveyors. The skills shortage has […]

U.K. economy displays mixed fortunes at end of Q3

The U.K. economy ended the third quarter on a mixed note, figures Friday showed. Industrial production rose a larger-than-forecast 0.7 percent in September, with output increasing across most manufacturing sectors, the Office for National Statistics said. But construction fell the most in 18 months and a narrowing of the trade deficit was not enough to […]

Eurozone economy to grow fastest in 2017 in decade- EU forecast

The eurozone economy is expected to grow at its fastest pace in a decade this year, according to the European Commission, Thursday, with real gross domestic product (GDP) growth predicted to be 2.2 percent. The autumn forecast is substantially higher than the previous one of 1.7 percent in the spring, but the growth rate will […]