UK economy on course to stagnate in third quarter, says Bank of England governor August 24, 2019 Bank of England governor Mark Carney has said that the UK’s economy is on course to stagnate in the third quarter. He also said that underlying growth looked muted even with Brexit volatility stripped out. Read more: UK will remain ‘energetic partner’ on world stage after Brexit, says Boris Carney said Britain’s economy was “currently [...]
Trump announces tariff hikes as US-China trade war escalates August 24, 2019 Donald Trump has hit back at China by announcing plans to increase the tariffs on imports by a further a five per cent. The trade war between the US and China escalated further on Friday, with China revealing plans to hit $75bn of US goods with duties. Read more: Trump tirade against China sends stock [...]
Donald Trump Twitter tirade against China sends stock markets tumbling August 23, 2019 US President Donald Trump has further escalated his administration’s trade war against Beijing with a Twitter outburst that ordered American companies to return “home” from China. Read more: Fed will ‘act as appropriate’ to keep US economy growing, says chair Powell Trump’s tweets came just hours after Beijing announced it would apply tariffs to $75bn [...]
Fed will ‘act as appropriate’ to keep US economy growing, says chair Jay Powell August 23, 2019 Federal Reserve chairman Jay Powell has said the central bank will “act as appropriate” to ensure that the US economic expansion continues, but gave little insight into whether the central bank would further cut interest rates at its meeting next month. Read more: Pressure on for Fed chair Jay Powell at Jackson Hole “The US [...]
UK companies to miss research investment target by £19bn, says CBI August 23, 2019 British companies are set to miss the government’s 2027 target for investment in research and development (R&D) by £19bn, the CBI has warned today. Read more: UK tech startups attract record $6.7bn in foreign investment The business organisation called on the government to ensure that R&D tax credits, which provide tax incentives for private investment, [...]
China to tariff $75bn of US goods in trade war escalation August 23, 2019 China has announced it will tariff $75bn of US goods in the latest escalation in the long-running trade war with the US. China’s commerce ministry said in a statement it would impose additional tariffs of five and 10 per cent on over 5,000 US goods including agricultural products, crude oil, small aircraft and cars. The [...]
FTSE 100 leads stock markets higher with all eyes on Fed chair Powell August 23, 2019 London’s FTSE 100 was the biggest riser among the European stock markets this morning, as a falling pound pushed up the blue-chip index. Read more: Pressure on for Fed chair Powell at Jackson Hole European indices were slightly higher as investors awaited US Federal Reserve chair Jay Powell’s speech at Jackson Hole, Wyoming this afternoon. [...]
Pressure on for Fed chair Powell at Jackson Hole August 22, 2019 Most people journey to the snowy plateaus below the Wyoming mountains for a relaxing week of fresh air. US Federal Reserve chairman Jay Powell, however, will find his visit to the north-western ski resort an altogether more stressful affair. Read more: US manufacturing sector contracts for first time since 2009, survey says Powell will take [...]
US manufacturing sector contracts for first time since 2009, survey says August 22, 2019 The US manufacturing sector contracted for the first time since the financial crisis in August, survey data showed today, in a sign that a global slowdown and trade tensions are damaging producers. Read more: Apple’s Tim Cook cautions Donald Trump over China tariffs A preliminary reading of the manufacturing purchasing managers’ index (PMI), a closely-watched [...]
German manufacturing stays firmly in contraction mode in August August 22, 2019 Output in Germany’s struggling manufacturing sector contracted sharply in August, according to survey data released today, but beat economists’ expectations of a steeper fall. Read more: German economy shrinks in second quarter as exports slump A preliminary reading of the closely-watched manufacturing purchasing managers’ index (PMI) for August gave a score of 43.6, up from [...]
