UK firms keen to hire but skills shortages a problem July 29, 2019 In the second quarter of the year 60 per cent of British firms tried to hire new employees, according to a new survey, in the latest sign of strength in the job market. Read more: UK unemployment stays at 54-year low as wages tick up Meanwhile, 30 per cent of employers said they expect to [...]
Fed set to cut interest rates for first time in 10 years July 28, 2019 The US Federal Reserve is poised to cut interest rates for the first time in a decade when it meets this week in a preemptive effort to stave off the effects of trade tensions. Read more: US economic growth falls short of Trump’s target Market players think it is certain that the Fed will cut [...]
Alphabet, Twitter and Starbucks send Wall Street to record highs July 27, 2019 Two of the main indexes in the US, the S&P 500 and Nasdaq, ended Friday on record highs after significant gains from the likes of Alphabet and Starbucks. It came on the back of data that showed US economic growth had slowed less than expected in the second quarter. Read more: US economic growth falls [...]
Business groups cheer new government’s change of tune on migration cap July 25, 2019 Britain’s biggest business groups yesterday welcomed signals from Downing Street that the new administration has all but abandoned the target to bring net migration below 100,000. Read more: Boris Johnson takes aim at Brussels in fresh Brexit battle Both the Confederation of British Industry (CBI) and the Institute of Directors (IoD) said the government’s turn [...]
ECB prepares stimulus to kickstart stalling Eurozone economy July 25, 2019 The European Central Bank (ECB) kept interest rates on hold today but signalled it will ease policy to kickstart the Eurozone economy unless growth picks up. Read more: Tepid Eurozone inflation stays well below ECB target It said it now expects its main interest rates will stay at “present or lower levels at least through [...]
Former banker Sajid Javid’s first job as chancellor? To stand up to Boris Johnson July 25, 2019 Analysts at Deutsche Bank triggered sighs across the City yesterday with an attempt to coin the term “Borisnomics”. The portmanteau, as clunky as the new Prime Minister’s debut speech on the steps of Downing Street, is unlikely to catch on – but whatever we call it (Bojonomics, Johnsonomics…) how should we judge Boris Johnson’s likely approach [...]
Eurozone relapses as manufacturing downturn deepens July 24, 2019 Economic woes have deepened in the Eurozone as the manufacturing downturn hit a three-month low for July, according to a closely-followed measure of the industry’s health. Manufacturing output relapsed to fall to a score of 51.5 this month after two months of growth, IHS Markit’s Flash Eurozone Purchasing Managers’ Index (PMI) found today. Read more: [...]
Citizens’ assemblies would hand power to establishment experts July 24, 2019 Citizens’ assemblies have become the height of fashion. The London borough of Camden is currently holding one on how to reduce carbon emissions in the area. Last month, Nicola Sturgeon announced plans to set one up to consider constitutional issues in Scotland. The Irish government’s one on abortion featured in the 2018 referendum on the [...]
BoE chief economist cautions against interest rate cut with employment strong July 23, 2019 Bank of England chief economist Andy Haldane has said he would be “very cautious” about cutting interest rates in the near future as the economy is stronger than it appears. Read more: Banks can cope with no-deal Brexit but risks remain, says BoE Speaking in Scunthorpe today he said low unemployment and relatively high consumer [...]
IMF warns over Brexit and trade wars as it cuts global growth forecast July 23, 2019 The International Monetary Fund (IMF) has cut its forecast for global economic growth over the next two years and said that a disorderly Brexit could damage global investment and trade. Read more: Race begins for IMF top job as Christine Lagarde submits resignation The Fund lowered its prediction for global growth by 0.1 percentage point [...]
