US economy grows even faster than first thought August 29, 2018 The American economy expanded at a faster rate than previously thought in the second quarter, according to updated figures published today. US GDP rose at an annual rate of 4.2 per cent in the second quarter, the Bureau of Economic Analysis (BEA) said, an upgrade from the first estimate of 4.1 per cent. The US [...]
Turkish lira slumps further after banks downgraded August 29, 2018 The Turkish lira has slumped further against the dollar after ratings agency Moody's downgraded banks yesterday evening, amid a dispute between President Tayyip Erdogan and US President Donald Trump. The currency weakened to 6.4 lira to the dollar early this morning, its weakest since 15 August, and had dipped as low as 6.37 before recovering [...]
Northern Ireland can’t afford to wait any longer for a government August 29, 2018 Northern Ireland has taken centre-stage in Westminster over the past year. The Irish border forms a crux of the Brexit debate, and there’s also the small matter of the confidence-and-supply arrangement the Democratic Unionist Party (DUP) has formed to prop up the Conservative government. However, there’s an even more pressing political story over the Irish Sea [...]
From Venezuela to East Berlin, people will always choose capitalism over socialism August 29, 2018 How many people across the world in the history of humanity have fled from a capitalist country to a socialist one? There was much amusement at the height of the long miners’ strike of 1984/85. A National Union of Mineworkers official from Yorkshire, a crony of Marxist trade unionist Arthur Scargill, sought sanctuary in the Stasi-controlled [...]
British shop prices rise for first time in five years August 29, 2018 British shop prices have risen for the first time in five years as hot weather and the rising price of oil conspired to add to inflationary pressure. Shop prices increased by 0.1 per cent in August 2018 compared to last year, figures from the British Retail Consortium, prepared by Nielsen, will today show. The rate [...]
DEBATE: Will new non-EU free trade deals offset the potential costs of Brexit to the UK economy? August 28, 2018 Will new non-EU free trade deals offset the potential costs of Brexit to the UK economy? John Longworth, co-chairman of Leave means Leave and former director general of the British Chambers of Commerce, says YES. Quite apart from the political benefits of Brexit – liberty and self-determination – the economic benefits are vast: better regulation, [...]
City economists back rumoured extension of Mark Carney’s Bank of England stay August 28, 2018 City economists have eagerly backed Mark Carney to extend his stay at the Bank of England after a report the Treasury had raised the prospect of an extra year with the governor. Carney’s term as governor is due to come to an end in June 2019, a year earlier than first planned. However, an extension [...]
Rising cost pressures dent profits in Britain’s dominant services sector August 28, 2018 A dramatic rise in costs has dragged back profitability for Britain’s dominant services sector in spite of higher volumes, according to business group data to be published today. Costs for business and professional services firms, including lawyers, accountants and marketers, grew at the fastest pace since before the financial crisis in 2008 during the last [...]
German business confidence jumps after trade war fears ease August 27, 2018 Germany's business confidence improved markedly in August, according to a closely watched survey, in a strong positive signal from the Eurozone's economic powerhouse following a diminished threat from the trade dispute from the US. The Ifo (Insitute of Economic Research) business confidence index rose to a reading of 103.8, up from 101.7 the previous month [...]
US pushing for EU trade negotiations to move faster August 25, 2018 The US is pushing the EU to move faster on trade negotiations following the meeting between US President Donald Trump and EU Commission President Jean-Claude Juncker last month. Emily Haber, Germany’s ambassador to the United States, told reporters a working group formed after the Trump-Juncker meeting had convened for the first time this week, and [...]
