Before the bell: What you need to know before the US market open June 6, 2016 Markets are hoping for clarity from Fed chair Janet Yellen later and a British exit from the European Union is looking more likely as a poll gap narrows. Here's what you need to know before the US market opens at 14:30 London time. US stocks are pointing up in the pre-market. The S&P is up by 0.13 per cent, the [...]
Sterling slips again after latest opinion polls show strong support for Brexit June 6, 2016 The pound has yet again borne the brunt of the twists and turns of the EU referendum campaign, with another big drop in the value of the currency today after more opinion polls showed the Leave side on top. Sterling has lost 0.7 per cent against the US dollar today, falling to a three-week low of $1.4406, [...]
SMEs have a gloomy view of the economy, as uncertainty over the upcoming EU referendum vote and higher wage bills take their toll June 6, 2016 The summer weather has done little to boost SME owners' moods, with research out today showing that many have lost confidence in the economy. According to the study by Close Brothers, only one in five SMEs said they were confident that the economy could deliver a steady recovery, while more than a quarter said they were [...]
Weak overseas demand hits German manufacturers June 6, 2016 Germany's manufacturing industry took a surprise hit in April as factory orders fell, denting hopes of another quarter of impressive economic growth. New orders with German manufacturers fell two per cent between March and April, according to statistics released this morning, as weaker overseas demand could knock the German economy in the second quarter. Domestic orders grew [...]
London is crucial to the LSE-Deutsche Boerse merger, says top exec June 6, 2016 The London Stock Exchange (LSE) and Deutsche Boerse are walking a tightrope. As well as attempting to persuade shareholders and regulators to approve their £21bn merger, the tie-up has also attracted passionate interventions from politicians in the UK, Germany and elsewhere. In Westminster, attention has been drawn to two facts: that Deutsche Boerse’s chief executive would take [...]
Investors look to production data as FTSE flattens June 6, 2016 Industrial data will be in focus this week as investors look for signs of life in the sector. With rising fears of a second quarter slowdown for the UK economy, poor industrial and manufacturing production figures on Wednesday could stoke broader fears. In March industrial production was wallowing 10 per cent below pre-crisis levels, with the [...]
Entrepreneurs signal the economy is looking up despite warnings over the impact of Brexit June 6, 2016 Economic confidence among entrepreneurs has taken a big step forward over the last year. The number of business owners who feel confident about the direction of the global economy climbed by 18 percentage points to 69 per cent over the last 12 months according to a survey from accountancy giant EY. The UK economic outlook [...]
UK ”punches above its weight” on regulation says Canada Corp June 6, 2016 The UK is able to “punch above its weight” in steering EU financial regulation according to research from Canada Corporation. Following research based on interviews with policymakers, legislators, lobbyists and other key players, the City cited five pieces of European regulation, finding in each the UK had influenced rules. The City corporation added [...]
French finance minister says strikes have no “substantial impact” on the economy June 5, 2016 The French finance minister, Michel Sapin, said weeks of strikes over controversial labour reform proposals would have little impact on the economy. In an interview with the business newspaper Les Echos, he said: "So far, the strikes have been partial and limited to sectors. I don't see any substantial impact on activities." Read more: French strikes spark confrontations [...]
Gove slams investment banks over EU relationship June 5, 2016 Michael Gove has fired shots at investment banks and big business in the midst of EU referendum campaigning, saying the EU is rigged in their favour. One of the most high profile campaigners for leaving the EU alongside Boris Johnson, Gove said that big banks such as Goldman Sachs and Morgan Stanley calling the shots in [...]
