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Tag: growth

Wage growth strongest for nearly a decade

Wage growth strongest for nearly a decade

Business
Pay packets rose by an average of 3.1% in the three months to August, the fastest pace for nearly a decade, according to official figures. The Office for National Statistics (ONS) also said unemployment fell by 47,000 to 1.36 million while the unemployment rate remained at a 43-year low of 4%.Pay growth - excluding bonuses - was up from 2.9% in the previous period.It has not been as strong as 3.1% since the three months to January 2009 and has not been greater since 2008.The figures look less impressive when taking account of the effect of inflation - in real terms pay rose by just 0.7% over the period, though this was still the best since the end of 2016. ONS head of labour market David Freeman said: "People's regular monthly wage packets grew at their strongest rate i...
UK growth rate downgrade blamed on 'Beast'

UK growth rate downgrade blamed on 'Beast'

Business
The annual rate of growth in the UK economy has been downgraded because of a bigger-than-expected hit from last winter's snow. The Office for National Statistics (ONS) said that while gross domestic product (GDP) growth for the second quarter had been left unchanged at 0.4% following its latest revision, it had cut its estimate for output during the previous three months.It now calculated that disruption, particularly to the construction sector, from the so-called 'Beast from the East' was worse than originally anticipated. Image: Housebuilding suffered during the cold wintry weather of February and March It revised growth between January to March to a figure of just 0.1% from 0.2%.It meant, the ONS said, that the annu...
Artificial intelligence used to predict cancer growth

Artificial intelligence used to predict cancer growth

Health
Scientists have used artificial intelligence to predict how cancers will progress and evolve.This could help doctors design the most effective treatment for each patient.A team led by the Institute of Cancer Research London (ICR) and the University of Edinburgh developed a new technique known as Revolver (Repeated Evolution of Cancer).This picks out patterns in DNA mutation within cancers and uses the information to forecast future genetic changes.The researchers said the ever-changing nature of tumours was one of the biggest challenges in treating cancer - with cancers often evolving to a drug-resistant form.Breast tumoursHowever, if doctors can predict how a tumour will evolve, they could intervene earlier to stop cancer in its...
IHG quarterly room revenue growth accelerates on China demand

IHG quarterly room revenue growth accelerates on China demand

Finance
InterContinental Hotels Group Plc's (IHG) second-quarter room revenue growth accelerated, helped by higher demand in China, it said on Tuesday. Revenue per available room (RevPAR) rose 3.7 percent in the three months to June 30, higher than the 3.5 percent growth in first quarter and 1.5 percent a year earlier. "We've had a really strong start to the year," IHG Chief Executive Keith Barr told CNBC's "Squawk Box Europe" on Tuesday. "The number of hotel rooms we've opened up around the world is up 4.1 percent," he said, adding that underlying profit was up 8 percent and earnings per share was up 25 percent, enabling the company ...
Facebook shares slump as user growth slows

Facebook shares slump as user growth slows

Technology
Facebook shares slumped 7% in after-hours trading, as the social media giant revealed that its user base and second-quarter revenue grew slower than expected. The shares, which have risen as much as 23% this year, fell to $ 201.40 in trading after the bell.It was the company's first full quarter following the Cambridge Analytica privacy scandal.The firm said it had 2.23 billion monthly active users at the end of June, up 11% on June 2017, the slowest growth in more than two years.Analysts attributed the user growth shortfall largely to European privacy rules that went into effect in May.The Cambridge Analytica scandal prompted several apologies from chief executive Mark Zuckerberg and generated calls for users to desert Facebook, which has grown strongly since launching as...