US stocks rise as ‘productive’ China trade talk round ends May 1, 2019 US stocks have climbed higher after markets opened following the end of another round of trade talks between the United States and China that treasury secretary Steven Mnuchin called “productive”. Mnuchin flew to Beijing on Tuesday with US trade representative Robert Lighthizer to hold discussions with their Chinese counterparts. Mnuchin today tweeted: “Ambassador Lighthizer and [...]
UK manufacturing growth slows as Brexit extension reduces stockpiling May 1, 2019 Growth in the UK manufacturing sector slowed in April, according to closely-watched data released today, following a faster-than-expected expansion in March due to Brexit stockpiling. Read more: UK manufacturing hits 13-month high as Brexit stockpiling peaks The headline purchasing managers’ index (PMI) fell to 53.1 in April, down from March's 13-month high of 55.1, according [...]
Extinction Rebellion climate change protesters want to destroy the UK’s financial sector May 1, 2019 The founder of Extinction Rebellion has ambitions to upend the UK’s financial system after her organisation targeted the City in two weeks of London protests. Gail Bradbrook wants to provoke a “mass refusal” to pay off loans and mortgages in a bid to throw London’s financial district into disarray following action that saw climate change [...]
Confidence in UK among European business leaders has collapsed due to Brexit, says survey April 30, 2019 The confidence of European business chiefs in the UK economy has evaporated due to Brexit, causing them to slash their investment intentions, a new report by investment bank Credit Suisse has revealed. Read more: Investors withdrew savings from UK funds in lead up to Brexit deadline Over 65 per cent of European business leaders said [...]
European Central Bank hikes supervision fees by 21 per cent as Brexit takes financial toll April 30, 2019 The European Central Bank (ECB) today increased supervisory fees by 21 per cent as it seeks to cover higher than expected costs to prepare for Brexit. Read more: Euro falls as ECB chief Draghi bearish on Eurozone economy The hike amounts to an estimated €576m charge on banks this year, up from €502.2m in 2018, as a [...]
Euro rises as Eurozone economy shows stronger-than-expected growth in first quarter April 30, 2019 The Eurozone economy achieved faster-than-expected growth in the first quarter of the year, marking a pick-up from its lacklustre performance at the end of 2018, official statistics have revealed. Read more: Euro falls as ECB chief Draghi bearish on Eurozone economy Economic growth in the currency area was 0.4 per cent in the first quarter [...]
Italy escapes recession but still lags behind rest of Europe April 30, 2019 Italy has dragged itself out of recession with economic growth of 0.2 per cent in the first quarter, the country’s statistics organisation said today. Read more: Eurozone economy shows stronger-than-expected growth in first quarter The quarterly figures mean the Eurozone’s third-largest economy limped to an annual growth rate of 0.1 per cent. Italy’s economy shrunk [...]
Incentives are needed to fix our broken social care system April 30, 2019 If I could choose just one phrase to sum up what politicians and civil servants need to know – the single maxim that should be tattooed on the insides of their eyelids – it would be this: “People respond to incentives.” It’s such a simple idea. But it’s extraordinarily powerful. Whenever something in government – [...]
Consumer confidence remains steady amid Brexit carry-on, survey shows April 30, 2019 Britons were more positive about the future economic situation in April than they were in March, but are putting off major purchases amid financial and political uncertainty, a new study has today shown. Read more: CBI: UK retailers enjoy rising sales for the first time in five months Meanwhile, fewer people in the UK were positive [...]
Labour policies will represent ‘revolution’ for UK economy says John McDonnell April 29, 2019 Shadow chancellor John McDonnell said Labour will unleash an economic “revolution” if it wins power. The Labour MP for Hayes and Harlington, who has previously named Soviet revolutionaries Lenin and Trotsky as key intellectual influences, told the BBC he saw parallels with 1979 when Margaret Thatcher swept to power. "Things aren't working for people, so they're [...]
