The Economy

Perceptions of excessive reward and concern over short term cultures still prevailing within financial sector

According to research from the CIPD, the UK’s financial sector has a long way to go in transforming culture in the banking and financial services to ensure they become more focused on creating long-term value for the customer and wider society.

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Workers denied minimum wage receive £4m in back pay

HMRC crackdown sees 700 employers fined for breaking law.

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UK service sector activity rose at an accelerated rate during May 2013

An increase in activity during May was the fastest in over a year. Rising workloads and expectations for growth support a rise in employment whilst input cost of inflation hits a 12-month low.

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UK retail sales return to growth

The May promotional offers and discounts tempted shoppers into stores and worked well to clear some of the stock that had been slow to sell during the preceding months. The high street is on the rise as like-for-like sales were up 1.8 per cent on the same period in 2012

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UK trapped in 'vicious spiral' of falling wages and depressed investment

International Labour Organisation warns of threat of rising child poverty in Britain if measures to combat unemployment are not introduced

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UK Manufacturing Purchasing Manager’s Index (PMI) at 14-month high in May

Higher output and new orders lead to increased employment whilst input prices fell for the second consecutive month.

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Salary freezes and lower bonuses predicted for FTSE100 executives, in response to 'shareholder spring'

A FTSE CEO on average receives a base salary of £870,000 and is predicted that some remuneration committee's are reducing the size of there CEOs bonus. This is exactly the sort of judgement call investors want to see remuneration committees making.

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Retail in 2018 - Shop numbers, Online and the High Street

The Centre for Retail Research published its analysis of how UK retailing will have changed by 2018 as more and more people are turning to the internet rather then shopping on the high street.

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Pay budgets set to grow in majority of organisations, CIPD finds

The CIPD Reward Management Survey 2013 of senior reward and benefits professionals revealed that more than half of employers (53 per cent) expected their pay budgets to increase by the end of 2013.

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MPC Minutes, May 2013

The minutes from the Monetary Policy Committee meeting, held on 8 and 9 May 2013 have now been released.

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