US and European stock markets diverge as trade war jitters continue August 7, 2019 US stock markets fell today and investors bought up so-called safe haven assets as central banks around the world slashed interest rates in response to slowdowns. Read more: China hits back after US labels rival a currency manipulator European stocks climbed, however, as deals in the German chemicals sector provided a welcome boost to equities [...]
German factory production slumps in June raising recession fears August 7, 2019 German industrial production fell by much more than expected in June, raising fears that Europe’s biggest economy contracted in the second quarter. Read more: Eurozone construction sector held back by Germany in July Factories in Germany produced 1.5 per cent less in June than they did in May, far less than the 0.4 per cent [...]
Retailers beware, the online shopping revolution isn’t going anywhere August 7, 2019 Another week, another retailer biting the dust. The baked potato specialist Spudulike has closed all 37 of its branches, with a loss of nearly 300 jobs. Shopping centres are undergoing a sudden and dramatic squeeze, with many retailers only able to stay in business if granted a dramatic rent reduction. Last week, Intu Properties, owners [...]
Pessimism among global business rises over trade tensions and Eurozone slowdown August 6, 2019 Pessimism among global businesses has risen sharply in the third quarter of the year as US-China trade tensions, the slowing Eurozone economy, and the rising chances of a no-deal Brexit spook firms. Read more: China hits back after US labels rival a currency manipulator The quarterly global risk survey from Oxford Economics, released today, showed [...]
Sterling hits lowest level against global currencies since 2016 August 6, 2019 The pound has fallen against the world’s biggest currencies to its lowest point since the so-called flash crash of late 2016. Read more: Sterling tanks to 28-month low on no-deal Brexit fears The Bank of England’s effective exchange rate index today sank below the most recent low point of August 2017, when a tussle over [...]
China hits back after US labels rival a currency manipulator August 6, 2019 China’s central bank has condemned Washington’s decision to officially call Beijing a currency manipulator, saying it would “severely damage international financial order and cause chaos in financial markets”. Read more: European stock markets tentatively rise as China stems currency fall The People’s Bank of China (PBoC) said it “has not used and will not use [...]
Rare respite for Germany as factory orders pick up August 6, 2019 German factory orders beat expectations in June, official statistics showed today, providing a rare piece of good news for the country’s struggling economy. Read more: Eurozone construction sector held back by Germany in July New orders for manufacturers grew 2.5 per cent on the previous month, far exceeding the 0.5 per cent rise predicted by [...]
European stock markets tentatively rise as China stems currency fall August 6, 2019 European stock markets have broadly risen this morning on signs that the People’s Bank of China has stemmed the fall of the renminbi after the US officially labelled China a currency manipulator. Read more: Tumbling Chinese currency drags down stock markets on trade war fears China’s currency fell to the seven-per-dollar level not seen since [...]
Eurozone construction sector held back by Germany in July August 6, 2019 The Eurozone construction sector grew marginally in July despite activity falling in Germany for the first time in nine months. Read more: Investor confidence in Eurozone hits five-year low The construction purchasing managers’ index (PMI), a gauge of the sector’s health from data firm IHS Markit, rose slightly to 50.8 in July from 50.6 in [...]
Free ports could turn Brexit to our economic advantage August 6, 2019 One of the most exciting shifts in policy under the new government has been its whole-hearted embrace of free ports. But many people are still puzzled by what they are. In a nutshell, free ports are areas which are within the UK, but outside its customs borders. So you can bring your goods into the [...]
