US economy struggles to impress over the summer September 7, 2016 Growth in the US remained sluggish over the summer, according to the latest economic indicator out of the world's biggest economy this afternoon. The Markit purchasing managers' index (PMI), which tracks activity across the economy, came in at an uninspiring 51.5 in August, bang in line with expectations but down from 51.8 in July. The news settled [...]
GDP estimates show UK economy still growing after Brexit vote September 7, 2016 The UK economy is still on track to avoid a contraction in the crucial third quarter of the year, analysts at the National Institute of Economic and Social Research (Niesr) have argued. The think tank's closely watched GDP estimates suggest the UK grew by 0.3 per cent in the three months to August. This marks a slowdown [...]
Oil buoyed by the weaker dollar but freeze deal pessimism remains September 7, 2016 Oil prices rose this morning, partly due to the weaker greenback, despite mounting pessimism over the ability of global producers to a reach a freeze deal. Crude received a shot in the arm after the US dollar index fell one per cent today, in the wake of softer US economic data. This is a boon [...]
Australian trade minister hits the brakes on quick-fire trade deal September 7, 2016 Just hours after announcing the UK and Australia have opened talks on a free trade deal, the Australian trade minister has dismissed the idea of a deal being signed straight after the UK leaves the EU. Steven Ciobo, counterpart to UK trade secretary Liam Fox, told the BBC Today programme this morning: "The UK is [...]
Hargreaves Lansdown chief prepares to depart as firm reports Brexit boost September 7, 2016 Market volatility driven by the EU referendum helped boost trading volume for Hargreaves Lansdown during the year to 30 June, the broker said today as it unveiled a bumper set of results. Separately, the company announced this morning that chief executive Ian Gorham will step down no later than 30 September next year. Chief financial officer [...]
Think tank hits back at businesses trying to neuter Osborne’s living wage September 7, 2016 A leading think tank has urged Theresa May to ignore the complaints of businesses and push ahead with raising the national living wage (NLW) over the coming years. The Resolution Foundation has today called on the prime minister to “stick to her guns”, warning watering down the policy could result in low-paid workers losing out [...]
That massive UK current account? Don’t worry about it, yet September 6, 2016 The UK has been told its record-high current account deficit may not be cause for concern, despite the result of the EU referendum raising fears over a potential balance of payments crisis. Ratings agency Fitch has said it is too early to begin fretting about whether the UK economy will come under pressure from a [...]
UK and Australia to start planning free trade deal September 6, 2016 The UK and Australia will start to lay the groundwork for a sweeping free trade deal ahead of the UK's formal exit from the EU. At an event in London this evening, trade secretary Liam Fox and his Australian counterpart Steven Ciobo announced the creation of a "bilateral trade working group" to shape out the details [...]
Wake up, Britain: Your post-Brexit future is brighter than you realise September 6, 2016 This is an extract from a speech to be given at the Institute for Turnaround Conference in London on 8 September 2016. Britain's future is brighter than the British realise. This is perfectly obvious to outsiders but the British can’t believe it. Britain has been for some time the second most compelling investment destination after [...]
The IMF’s Brexit failures were the final straw: It’s time to scrap these inept pundits September 6, 2016 Sports fans will all be familiar with the commentator who almost always gets things wrong. “Arsenal are very much on top here” he – it is invariably a “he” – will pronounce, or “Root is looking very settled”, only for the opposition to score a goal immediately and for the Yorkshireman to be clean bowled. [...]
