Eurozone output beats expectations in August but economy remains weak August 22, 2019 The euro has climbed against the dollar after survey data showed private sector output in the Eurozone beat expectations in August. Read more: German manufacturing stays firmly in contraction mode in August The preliminary private sector purchasing managers’ index (PMI), a closely-watched gauge of the economy, scored 51.8 in August, up from 51.5 in July [...]
Watchdog urges consumers to make PPI claims as deadline looms August 22, 2019 The Financial Conduct Authority (FCA) is urging consumers not to leave making PPI claims to the last minute ahead of next week’s deadline. Figures released by the FCA show a total of £340.4m was paid to consumers who had complained about being mis-sold PPI in June, taking the total paid out since 2011 to £36bn. [...]
Merkel: I can see possibilities for a Brexit solution August 21, 2019 German Chancellor Angela Merkel has said she sees “possibilities” for a solution to the deadlock over the Irish backstop, paving the way for a Brexit deal. Speaking this evening ahead of bilateral talks with Prime Minister Boris Johnson, Merkel told reporters: “I see possibilities [to solve the backstop impasse] through, for example shaping the future [...]
Ryanair loses court bid to stop pilot strikes August 21, 2019 Ryanair has lost a legal bid to prevent its pilots from striking later this week but insisted its passengers would suffer little disruption. The budget airline applied for a High Court injunction that would have stopped its UK pilots from striking tomorrow and on Friday, meaning the industrial action will go ahead. Read more: Pilots [...]
Brexit: No deal most likely outcome, says French aide August 21, 2019 The UK will most likely leave the European Union – but still be on the hook for the £39bn divorce bill, a French presidential aide has told AFP. A no-deal Brexit is the “most likely scenario”, the wire reported, a day before UK Prime Minister Boris Johnson is due to meet his French counterpart Emmanual [...]
Travellers have reservations about Hostelworld August 21, 2019 Hostelworld, the hotel-focused online booking platform, has reported a drop in revenue for the first half of this year, as summer appetite from holiday-goers disappointed. Revenues tumbled from €42.6m (£39m) in the first half of 2018 to €38.8m during the first six months of 2019. Gross bookings for the company fell by four per cent, [...]
Shopping centre landlord Hammerson appoints new finance chief August 21, 2019 Hammerson drafted in a new finance chief this morning, as the troubled retail landlord looks to shore up its balance sheet after a challenging 12 months. James Lenton, a chartered accountant, will take on the role of chief financial officer from the start of October. Read more: Surprise boost for retailers He will succeed Timon [...]
Bank of East Asia profits slump as concerns mount over Hong Kong protests and US-China trade war August 21, 2019 One of Hong Kong’s largest banking groups posted a sharp drop in profits today as it struck a cautious tone following months of protests in the region and a global economic slowdown from the US-China trade war. Bank of East Asia (BEA), which is based in Hong Kong, reported a 75 per cent drop in [...]
The only way is down for UK interest rates, say City economists August 21, 2019 The UK economy is in contraction mode, but the Bank of England isn’t greatly worried. GDP fell by 0.2 per cent by the second quarter of the year as Brexit uncertainty and a global slowdown held growth back. Read more: UK economy shrinks for first time in seven years Policymakers at the BoE are reluctant [...]
Summer house deals dip amid Brexit uncertainty August 21, 2019 Britain’s property market suffered a sharp fall in the number of transactions made between June and July, as the traditional summer slowdown and growing uncertainty over Brexit dented activity. Figures released by HMRC this morning show a marked reduction in the number of property transactions over the summer months, with a drop of 8.5 per [...]