Business profits set to stumble in wake of EU referendum October 13, 2016 Corporate profitability held up in the three months before the EU referendum, new statistics have revealed, as companies showed little sign uncertainty was weighing on their ability to generate cash. The Office for National Statistics (ONS) said this morning profitability of private sector non-financial corporations, as measured by their net rate of return was 12.2 per [...]
Chinese trade tumbles amid weak demand October 13, 2016 China posted its weakest trade figures for six months overnight, as the economy suffers in the face of weak demand at home and abroad. Both exports and imports dropped in the year to August, falling well below economists' expectations and proving the world's second largest economy is not immune from the global growth slowdown. Analysts had expected [...]
FTSE 100 drops below 7,000 as Unilever and Tesco share prices fall after Marmite row October 13, 2016 The FTSE 100 has fallen further from its record high as markets digest some shock weak trade figures from China and the US Federal Reserve looks on course to hike interest rates. The bluechip index tumbled below 7,000 points to stand down for the week after reaching a record intraday high of 7,129 on Monday. Miners, [...]
Boris on Brexit: Foreign minister explains policy as Britain prepares to exit the European Union October 13, 2016 Foreign minister Boris Johnson is in front of the foreign affairs select committee this morning, giving evidence on developments in foreign policy – and he says the Brexit doom-mongers have been proven wrong. Johnson, who was a leading voice in the Leave campaign, said: "Those who prophesied doom have been proved wrong and will continue [...]
MPs should debate Brexit, not frustrate it October 13, 2016 Parliament is back in session after the theatre of the party conference season and there are plenty of meaty topics into which our legislators can sink their teeth. The Treasury Select Committee has been grilling HMT's top officials; Tory backbenchers have called for a new Royal Yacht Britannia; Boris Johnson has lambasted Russia over its actions [...]
Only half of us want central banks to give us free money October 13, 2016 Only half of the population think central banks should dish out free cash to every citizen across Europe, a new survey has revealed. In a survey looking at what the public thinks of the controversial idea of "helicopter money", just 54 per cent said they wanted to be given €200 (£180) a month tax free [...]
Brexit will be unequivocally good for the UK economy in both the short and long term October 12, 2016 When questioned on Brexit by the BBC’s Andrew Neil at a conference earlier this week, I made what appeared to be a radical statement: “Brexit will be unequivocally good for the British economy.” Understandably, Neil came back at me sharply, demanding to know how my statement could be reconciled with City firms shifting their location [...]
London businesses remain upbeat about growth for next two years October 12, 2016 Almost three-quarters (73 per cent) of SMEs predict that they will experience moderate to considerable growth over the next two years, according to research out yesterday. Albion Ventures, a British venture capitalist investor, has found that only five per cent of small businesses believe they will shrink or fold in the same time period, with [...]
US Federal Reserve: Rate hike delay was “close call” October 12, 2016 The US dollar crept higher this evening after the Federal Reserve revealed it is on course to hike interest rates by the end of the year. Published this evening, minutes from the Fed's most recent meeting of the Federal Open Market Committee (FOMC), held in mid-September showed rate-setters acknowledged it was a "close call" not to [...]
Theresa May’s statism is the wrong way to build a more prosperous post-Brexit Britain October 12, 2016 Labour has lurched to the hard left and Ukip does not currently seem equipped to capture the significant number of voters on lower incomes who are worried about immigration and the impact of globalisation. So it is understandable that the Prime Minister is seeking to seize the coveted centre ground. For that purpose, Mrs May’s [...]
