UK recession alarm bells ring as services sector contracts October 3, 2019 The risk of a UK recession has shot up after the huge services sector contracted in September, causing the biggest cut in employment in over nine years, according to closely-watched survey data. Read more: Global stock markets bleed red on US-EU trade war fears The sector – which makes up about 80 per cent of [...]
Eurozone recession risk ‘very real’ as slowdown infects services sector October 3, 2019 Germany slipped into recession territory last month as the Eurozone teetered on the brink of stagnation, data revealed today. The bloc’s biggest economy showed the weakest growth in business activity for three years, according to IHS Markit’s Germany Composite PMI. Read more: Recession alarm bells ring as UK services sector contracts “A technical recession now [...]
Skills shortage to cost small UK businesses £145,000 next year October 3, 2019 Small and medium-sized British businesses face a shortage of skilled employees that will cost them on average £145,000 next year, according to new research. Read more: Brexit prep has cut productivity of UK businesses, says Bank of England The so-called skills gap has widened as a result of “a shrinking talent pool due to Brexit” [...]
FTSE 100 slumps over 2.5 per cent as global economy darkens October 2, 2019 Britain’s FTSE 100 has tumbled 2.6 per cent today as weak economic data and political crisis fuel investor scepticism about the UK economy. Read more: UK construction activity suffers ‘devastating’ drop as Brexit kills demand US stock markets followed their British counterpart sharply downwards shortly after they opened, following more negative data for the world’s [...]
Rising Risk (Part I): Accounting shenanigans and alternative investments October 2, 2019 | City Talk In this first instalment of a two-part piece, Sebastien Canderle says PE fund managers are getting creative with their accounting – and EBITDA seems particularly malleable. Seasoned auditors know that the risk of fraud increases when a client experiences brisk organic growth or M&A activity. During the 1990s, the most spirited dealmakers included telecoms operators [...]
German think tanks once again slash growth forecast October 2, 2019 A group of top German think tanks today slashed their growth forecasts for the European powerhouse and warned that a disorderly Brexit could knock 0.4 per cent off the country’s GDP. Read more: Eurozone manufacturing sector suffers worst month in seven years The economy is now predicted to grow by just 0.5 per cent in [...]
FTSE 100 sinks as Brexit ultimatum and manufacturing crisis pummel European stocks October 2, 2019 The FTSE 100 fell one per cent in early trading today as markets stumbled over Boris Johnson’s “take it or leave it” Brexit ultimatum and weak US economic data. London’s blue-chip index dropped to 7,287.8 points shortly after open today, following global stocks plunging into a sea of red overnight. Read more: Boris Johnson’s ‘clarity [...]
What kind of person crosses the Nevada desert to investigate UFO conspiracies? October 2, 2019 Area 51 is a mysterious place. Located deep in the Nevada desert, it is home to highly classified US military operations. Rumours abound that it harbours secrets about extraterrestrial life. In June, a podcaster released an interview with someone who claims to have studied flying saucers in Area 51. The video spread like wildfire on [...]
Small business group warns over effects of wage hike October 1, 2019 The Federation of Small Businesses (FSB) has urged caution on chancellor Sajid Javid’s plans to significantly increase the national minimum wage, saying many of its members would prefer ten years to implement the rise rather than five. Michael Mealing, employment policy chief at the FSB, also warned that for low-pay areas such as care and [...]
WTO blames tariff wars as it slashes global trade forecast October 1, 2019 The World Trade Organization (WTO) has slashed its forecast for global trade this year to below half its previous estimate, pointing the finger at the US-China tariff war and also blaming Brexit. In a report into global trade, WTO economists today warned that “further rounds of tariffs and retaliation” in the trade war “could produce [...]
