While many of us stopped over Christmas, the finance news kept coming. There’s a lot to catch up on – starting with the drastic development in the Euro’s worth – so read on for the hottest headlines in the financial and business world over the last couple of weeks…
Feature of the Week
After predictions were made that the European Central Bank might have to act to simulate the economy, the Euro dropped by 1.2% against the dollar. It fell to just $1.1864, the lowest it’s been since March 2006, although it regained a little after it settled at $1.19370. The slip happened after the President of the ECB, Mario Draghi, made comments indicating that the bank could soon start quantitative easing. Read this article from the BBC for more information on just what plans the ECB has, and how these will affect the Euro’s future worth.
What else is on the need-to-know finance radar this week? See below for our other top stories, from pensions to preparations for 2015.
John Lewis boss says retailers could reconsider Black Friday | The Telegraph
It’s the genie that can’t be re-bottled, says the boss of John Lewis, but he hopes that Black Friday sale madness has hit its peak. Andy Street, managing director of John Lewis, has spoken out to say that while Black Friday undeniably causes a surge in in-store and digital footfall, he believes retailers may reconsider their promotions next year given the disruptions that ensue. Click on the link above to find out just how much more John Lewis made this year thanks to the Black Friday phenomenon…
Pensions minister, Steve Webb, is floating new plans that will allow currently retired workers the right to sell on their pensions to the highest bidder. This development would build on last year’s Budget reform, which will allow pensioners to access the entire lump sum of their pension savings from this April.
We’ve barely seen the back of Christmas, but after The National Debtline has announced that this Boxing Day it received three times as many callers as last year, experts are advising consumers to look ahead to Christmas 2015. Check out this piece if you’ll be looking to put savings aside for next December.
According to a survey conducted by the Confederation of British Industry, British firms will be relaxing their “grip on pay” this 2015 – although that doesn’t mean that other money-saving measures won’t be taken. 43% of firms surveyed said that they intended to raise salaries at pay reviews in accordance with the retail price index – with 12% saying they would increase pay by more…