European stocks rise after Donald Trump delays China tariffs September 12, 2019 European stock markets have risen soon after the opening bell following US President Donald Trump’s decision to delay tariff increases on Chinese goods by two weeks. Read more: China exempts some US goods from further tariffs ahead of talks Trump tweeted: “At the request of the Vice Premier of China, Liu He, and due to [...]
John McDonnell poised to back widening of UK financial transactions tax September 11, 2019 Shadow chancellor John McDonnell is set to extend Labour’s plans for a new tax on UK financial transactions in a move that could bring in an extra £2.1bn to the government’s coffers. Under Labour’s existing plans, the 0.5 per cent duty on share trading would be extended to other asset classes. Labour say this would [...]
ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? September 11, 2019 Mario Draghi tomorrow chairs his penultimate interest rate-setting meeting as president of the European Central Bank (ECB). The question is, will he bring a bazooka to his final battle? Read more: US and European stocks bouyed by ECB rate cut expectations The consensus expectation is that Draghi and co will cut the ECB’s main interest [...]
Donald Trump demands ‘boneheads’ at Fed slash rates to zero September 11, 2019 US President Donald Trump has called US Federal Reserve policymakers “boneheads” and demanded that they drop interest rates to zero “or less”. Read more: Fed will ‘act as appropriate’ to keep US expanding, says chair Jay Powell Trump said close-to-zero interest rates would let the US refinance its debt, meaning replace its existing debt with [...]
China exempts some US goods from further tariffs ahead of talks September 11, 2019 China has exempted 16 US products from additional tariffs, its finance ministry said this morning, in a sign of good will ahead of high-level talks this month and next. Read more: Return of US-China trade talks pushes up Asian markets Products such as animal feed, fish meal, some anti-cancer drugs and lubricants will be exempt [...]
Watch out fiscal conservatives – the mood has shifted and the spending taps are on September 11, 2019 The Autumn Spending Review announced by the chancellor Sajid Javid barely raised a ripple last week. Yet the increase planned in 2020/21 for what the Treasury calls “day-to-day departmental spending” is the highest for 15 years, no less than 4.1 per cent in real terms. This spending pays the running costs of public services, the [...]
UK unemployment fall pushes earnings growth to 11-year high September 10, 2019 The number of Britons without a job fell in the three months to July to a 45-year low, official figures have shown today, helping total earnings growth hit a decade high. Read more: Hiring intentions climb at financial services firms as Brexit nears UK unemployment was estimated at 3.8 per cent in the period May [...]
Hiring intentions climb at financial services firms as Brexit nears September 10, 2019 Firms in the finance and business services sector intend to take on new staff at the fastest rate in over a year as they ready themselves for the 31 October Brexit deadline, a survey has shown today. Read more: BoE chief economist cautions against interest rate cut with employment high Meanwhile, low levels of unemployment [...]
World Bank’s Georgieva unopposed for IMF seat September 9, 2019 The chief executive of the World Bank is poised to take over the International Monetary Fund after she was revealed as the only candidate. Kristalina Georgieva will be considered after nominations closed on Friday, the IMF said today. Read more: Europe select Kristalina Georgieva for IMF top job The Bulgarian economist is set to meet [...]
UK economy shakes off recession fears with growth in July September 9, 2019 The UK economy grew by more than expected in July, official figures have shown, allaying fears that Britain could be heading for a recession. Read more: Into the red: UK economy shrinks for first time in seven years British GDP expanded by 0.3 per cent month on month in July, after stagnating in June. Economists [...]
