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Pound rallies on record employment figures

UK unemployment fell by 3,000 to 1.44m in the 3 months to November, according to the ONS, which is at a 40 year low of 4.3%. The number of those in work rose to to a record 32.2m and wages rose at their fastest rate in almost a year. The Pound rose to $1.41 its highest level since June 2016 –   BBC News     Daily Mail   The Times    Evening Standard

Businesses should look to whole-life costs of vehicles

SMEs could save up to £1,440 per year if they switched to Electric motoring. A survey commissioned by Go Ultra Low found only 35% of businesses said they consider the whole-life costs of running a vehicle   –  Yorkshire Post

UK boating industry buoyed

The UK`s Boat & Yacht industry has seen revenues surge to their highest level since the financial crisis after the weaker pound helped drive up sales. Sales rose by 3.4 % to £3.1bn in the year to April 2017, according to a report by lobby group British Marine, while overseas sales for UK marine manufacturers rose by 4.7 % last year –  BBC news    the Guardian

Manufacturing output expands at fastest rate since 2008

ONS figures show manufacturing expanded for the seventh consecutive month in November, the longest period of monthly expansion in the sector since 1997.

During the 3 months to the end of November, manufacturing output was 3.9 % higher than the same period a year ago.      – Financial Times -BBC news Daily Mail Daily Telegraph

small firms charged 20% interest by big banks

new research reveals that high street banks are charging some customers more than 20 % in interest, despite receiving billions in tax payer support to ramp up lending.

financial information start-up DueDil found that Nat West & Santander are the most expensive of the big five high street lenders, with Nat West charging up to 29% for business loans throgh its Esme online service. The APR on Santanders online small business loans ranges from 4.9% to 25.9 % with directors required to put up their home or other assets as security. – The Sunday Times

public borrowing shrinks to 10 year low

Government borrowing was at its lowest fot a decade in 2017 according to official data. Public borrowing was £48.1bn, the lowest since 2007, the ONS said.

Tax receipts were up 5% in November 2017 compared to November last year- The Daily Telegraph     The Times    Financial Times   The Guardian

strong end to year for manufacturing

the purchasing managers index (PMI) for manufacturing shows the sector finished 2017 with the best quarter of growth in more than 3 years. There was a slight downturn in December`s growth following rapid expansion in November, but the average reading of the PMI survey for the final 3 months of the year came to 57, the best performance since the second quarter of 2014. Firms are benefitting from the drop in sterling`s value and broader global economic growth. The survey showed that manufacturers continued to see a `solid increase` in export sales, especially from the US, Europe, China & the Middle East.- The Times- Daily Telegraph- The Guardian- Daily Mail- Financial Times- Daily Express – The Independent- Daily Mirror- The Sun – Amicus Times

Fewer Zombie firms

the number of `zombie businesses` in Britain has hit a 5 1/2 year low, according to R3. It found the proportion of organisations stagnating because they can pay only the interest on their debts fell to 3% in December – 2% less than April 2017 &  down from 9% in November 2012. it is also the lowest figure since R3 began tracking Zombie businesses in June 2012. R3`s research showed further signs that severe financial distress was in retreat. Only 1% of companies reported that they were having to negotiate payment terms with creditors, that they would be unable to repay debts if there were a small rise in interest rates or were struggling to pay debts when they fell due – The Times – Amicus Times