The world’s booming middle class still holds the key to the City’s future February 5, 2019 Billions of people have escaped poverty over recent decades, in what is arguably humanity's greatest success story. Figures last autumn, moreover, estimated that five people join the world's burgeoning middle class every second. Much of the success is concentrated in Asia, a picture that looks set to continue according to fresh data published by PwC [...]
Confidence in the UK economy among financial services professionals hits record low February 4, 2019 Confidence in the UK’s economic prospects among financial services professionals is at a record low, a new survey showed today. A poll of its members by trade body the Chartered Institute for Securities & Investment (CISI) showed confidence was at its lowest level since it began the survey in 2012. Of the 1,062 respondents, 55 [...]
Eurozone investor confidence slumps to four-year low as German slowdown and Brexit concerns hit the bloc February 4, 2019 Eurozone investor confidence has sunk to a four-year low as Brexit uncertainty and Germany’s continued slowdown added to the bloc’s woes. The Sentix Index, which monitors investor sentiment across the single currency bloc, fell to -3.7 for February, following a survey of more than 1,000 investors. Read more: Italy slips into recession as Eurozone growth disappoints [...]
UK construction activity slows to weakest growth in 10 months as Brexit ‘anxiety’ harms the sector February 4, 2019 The UK construction sector eased to its slowest growth for ten months in January as the industry lost momentum. Output in commercial, residential and civil engineering construction fell from December and employment growth slowed to a two and a half year low, according to the IHS Markit / CIPS UK construction Purchasing Managers' Index. Construction [...]
More than three quarters of CFOs believe the UK will be worse off out of the EU, says Deloitte February 4, 2019 More than three-quarters of chief financial officers believe the UK will be worse off as result of leaving the EU, a new Deloitte survey has found. Approximately 80 per cent of CFOs surveyed by the big-four accountant said they expected the long-term business environment to be worse on leaving the EU. The UK is scheduled to leave [...]
US jobs grow by 304,000 despite government shutdown and earnings surge February 1, 2019 The US economy added more than 300,000 jobs in January despite the government shutdown, far ahead of forecasts. Jobs have now grown in the US for a record 100 consecutive months, dating back to October 2010. Despite forecasts of a further 170,000 jobs, the US labour market gained 304,000 in January, according to non-farm payroll [...]
DEBATE: With Italy now in recession, is the nation facing an economic crisis? February 1, 2019 With Italy now in recession, is the nation facing an economic crisis? Beatrice Faleri, economist and freelance writer originally from Italy, says YES. Less than a month ago, Italy’s Prime Minister boasted of a forthcoming “economic boom”. Yesterday, in a somewhat comical U-turn, he reported that, in fact, the country has entered an economic recession. GDP [...]
Private investment can help Britain remain a world leader in humanitarian aid February 1, 2019 The home secretary’s new plan to “redouble” efforts to crack down on knife violence is a reminder of where the spending priorities of this government have been, and a chance to question where investment is most needed now. The UK’s ambitious aid target of 0.7 per cent of gross national income now accounts for £14bn worth [...]
Editor’s Notes: Why we cannot take no-deal off the table February 1, 2019 There has been no shortage of ludicrous Brexiter outbursts lately as they see their project imperilled by political reality. One Tory backbencher railed against the CEO of Airbus (who had warned against a no-deal Brexit) on the grounds that he is German. He even invoked the Second World War to make a point about not [...]
Italy slips into recession as Eurozone growth disappoints January 31, 2019 Italy slipped into a recession at the end of last year after its economy contracted for a second consecutive quarter. The Italian economy shrank 0.2 per cent in the final three months of 2018, the country’s statistical office Istat said today, following a 0.1 per cent drop the previous quarter. Read more: Eurozone at risk of [...]
