Eurozone speeds into slowdown with weak shop sales October 5, 2016 The Eurozone ended summer with a stumble, new economic data has shown, as political concerns begin to weigh on the continent. Retail sales, one barometer for consumer confidence, dropped by 0.1 per cent in August, Eurostat confirmed this morning, while it also dealt a significant downgrade to the sector's performance in July. The body now [...]
Brexit recovery continues with robust services numbers October 5, 2016 The post-referendum slowdown is set to be significantly better than first feared, vital services industry data out this morning has confirmed. The closely-watched purchasing managers' index (PMI) for the sector which accounts for three-quarters of the UK economy came in above expectations at 52.6 for September – solidly in the above-50 zone which signifies expansion. The [...]
Bank of England slaps down moaning pension funds October 5, 2016 The Bank of England has told pension funds to stop blaming low interest rates and quantitative easing for their measly returns and ballooning deficits. Ben Broadbent, deputy governor of the Bank with responsibility for monetary policy, said this morning that without the Bank’s swift rate-cutting action in both 2009 and more recently in the wake of [...]
Irish services PMI pushed down by Brexit October 5, 2016 Ireland's services sector grew at its slowest pace in over three years in September as companies reported less customer interest as a result of the UK's Brexit vote. Ireland is widely considered to be the most at risk from Britain's decision to leave the EU given its close trade ties. The Investec Purchasing Managers' Index [...]
Parents with bulging pay packets are much more likely to work flexibly October 5, 2016 Parents picking up more than £70,000 a year are considerably more likely to work flexibly than those earning £10,000-£40,000, according to research from charity Working Families. Polling over 1,000 working parents, it found that 69 per cent of those with hefty pay packets (over £70,000) worked flexibly, compared to 47 per cent of those taking home pay in [...]
Bittersweet trading day leaves FTSE shy of record October 5, 2016 The FTSE 100 came close to an all-time closing high yesterday as shares were boosted by the fall in the pound. A lower pound lifts the earnings potential of some of the UK’s biggest companies that count their revenue in dollars and dominate the FTSE 100. When the closing bell rang at 4.30pm the blue-chip [...]
Theresa May sets down her vision for bigger government as she slams “divisive” Labour party October 5, 2016 Theresa May will wrap up the Conservatives’ conference today with a dramatic pledge to move her party further away from free-market liberalism and towards an approach that favours even greater government control. The new Prime Minister, who replaced David Cameron in July, will set out her vision for Britain, which she says will put “the power [...]
IMF U-turns on Brexit warning as UK poised to be fastest growing G7 economy this year October 4, 2016 The International Monetary Fund said today that it expects the UK to be the fastest growing G7 economy this year, backtracking on its post-Brexit recession warning. It comes despite an earlier prediction from the Washington-based fund that a Leave vote would plunge Britain into recession and crash its stock market. The IMF now predicts Britain's gross domestic product will [...]
Bank of England could unleash another £280bn of quantitative easing October 4, 2016 The Bank of England could take interest rates to zero and unlock another £280bn of quantitative easing if the economy slows in the wake of the Brexit vote. In fresh analysis by Michael Saunders, the newest member of the Bank's monetary policy committee (MPC), he outlines how the Bank would respond should the economy perform [...]
Businesses have reacted horribly to Amber Rudd’s visa crackdown October 4, 2016 Businesses have hit out at the government’s new plans to tighten visa rules for workers who come to the UK from outside the EU. Home secretary Amber Rudd told the Conservative Party Conference earlier today she is considering making it harder for UK businesses to recruit from overseas by introducing a new rigorous test to [...]
