Liz Truss urges colleagues to back May’s deal and says UK should slash red tape March 28, 2019 Chief secretary to the Treasury Liz Truss called on her colleagues in the Conservative party to support Theresa May's Brexit deal today, while painting a picture of a post-European Union Britain with less “red tape” and a new regulatory system. The Treasury number two also used a speech to the British Chambers of Commerce (BCC) [...]
Eurozone economic sentiment dips as UK confidence grows March 28, 2019 Economic sentiment in the European Union and the eurozone fell this month, while confidence in the UK jumped 1.6 points. Sentiment in the euro area dropped by 0.7 points to 105.5 and in the EU sentiment fell by 0.4 points to 105, according to the European Commission’s latest business and consumer survey. Read more: Draghi [...]
Preparing for a black swan event in the financial markets March 27, 2019 Global markets are more complex and interconnected than ever. Since the 2008 financial crisis, it’s become increasingly difficult to predict how the behaviour of market participants will affect the broader financial system. Meanwhile, increased automation and the use of high-frequency trading have contributed to flash crashes. We struggle to manage the rapid market movements that [...]
Germany sells 10-year bonds with negative yields for first time since 2016 March 27, 2019 The German government sold 10-year bonds with a negative yield for the first time since 2016 today, as sovereign debt rallies amid global economic gloom. Read more: Draghi says ECB ready to halt rates rises as Eurozone economy struggles The German Finance Agency said the government sold €2.4bn (£2bn) of “bunds” with 10-year maturities with an average [...]
UK retail sales see biggest contraction in 17 months, says CBI March 27, 2019 UK retail sales volumes fell sharply in March, seeing the fastest contraction in 17 months and marking a four-month run in which sales have not grown, a leading business group said today. Of the businesses surveyed by the Confederation of British Industry (CBI), 46 per cent said sales volumes were lower in March than a [...]
Italy’s trade deal with China is playing with fire March 27, 2019 Italy’s decision to be the first major European economy to join China’s massive investment and infrastructure project, the Belt and Road Initiative, can only exacerbate tensions between Italy and its neighbours. On Saturday, President Xi Jinping and the Italian government signed a non-binding agreement for Italy to join China’s 21st-century trade route, and inked a total [...]
Draghi says ECB ready to halt rates rises as Eurozone economy struggles March 27, 2019 Mario Draghi has said that the European Central Bank “will adopt all the monetary policy actions that are necessary” to boost the Eurozone economy should it continue to struggle, including further delaying planned interest rate hikes. Speaking in Frankfurt, Germany, the ECB boss also said that although he thought “growth will gradually return”, the “risks remain tilted [...]
Looking for Brexit consensus? You won’t find it – and this Nobel-winning economist can tell you why March 27, 2019 Should pure blue sky research be funded? Certainly, the answer from government-backed research councils seems to be “no”. The emphasis is increasingly on research which has immediate practical applications. Yet seemingly esoteric research can shed light in quite unexpected areas. For example, a PhD thesis written by a then obscure research student 70 years ago [...]
Losing out: British finance bosses leaking £6.7bn a year by failing to update accounting systems March 27, 2019 Outdated accounting systems which prevent British companies taking advantage of early payment discounts are costing them £6.7bn a year, according to research. More than one-fifth of finance bosses (22 per cent) surveyed by Opinium believe their accounting software is out of date, while 16 per cent said it did not allow them to use early [...]
US consumer confidence falls as worries about the economy mount March 26, 2019 US consumer confidence declined in March following an increase in February, the latest data has shown, as Americans raise concerns about the economy The widely-watched consumer confidence index, released today by US business research group The Conference Board, now stands at 124.1, down from 131.4 in February. Read more: Fed slows balance sheet reduction and holds [...]
