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UK unemployment falls to 7.7%

The UK unemployment rate fell from 7.8 per cent to 7.7 per cent in the three months to May, according to the latest figures from the Office for National Statistics.

Between March and May, 26,000 more people found work, reducing the overall number of unemployed to 2.45m, or 7.7 per cent of the economically active population.

Despite the recovery in recent months, the number of people in employment is still 293,000 lower than the pre-recession peak of 29.8m.

The number of employees and self-employed people working part-time because they are unable to find full-time work reached 1.25m – the highest figure since records began in 1992, and an increase of 80,000 on the quarter.



Standard warns of £75k loss on lifetime allowance

Standard Life is warning that savers who failed to protect their tax-free cash when the lifetime allowance was introduced could see their available non-taxable pension lump sum drop by £75,000 from April. The Government first introduced a lifetime allowance for tax-privileged pension saving on April 6, 2006. The initial allowance was £1.5m for the 2006/07 […]

MAS could offer tool to compare enhanced annuities

The Money Advice Service is considering launching an enhanced annuity comparison tool. The Government has stepped up its attempts to increase the number of people who shop around for an annuity, with representatives from the Department for Work and Pensions and the Treasury exploring the practicalities of making the open market opt-ion the default at […]

Take a close look at Castle Trust

Castle Trust’s recently announced plan to offer a 20 per cent LTV shared-equity second-charge mortgage to borrowers with a deposit of at least 20 per cent has generated a significant amount of comment but I have been surprised at how negative some of it has been. Like any mortgage, it will not be for everyone […]

IMF: Italy must enforce spending cuts

The International Monetary Fund has called on Italy to guarantee “decisive implementation” of spending cuts in a bid to tackle the country’s growing debt. According to reports, the IMF has said that Rome has been too optimistic on economic growth and that its plans on tax reform lacked detail. Markets have tumbled in the past […]

To be and not to be – Multi asset investing with conviction

At Pictet Asset Management we believe active management of asset allocation is the most important generator of returns. What is not to be in our portfolio is just as important as what is to be because good performance is determined as much by the assets you avoid as by those you hold. The FP Pictet Multi Asset Portfolio managers are not wedded to any particular […]


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