Ignore Remain’s Brexit deceptions: EU backers are the real protectionists June 7, 2016 Following Michael Gove’s impressive performance in the Sky “debate” last week, the Stronger In campaign was always going to clutch at straws to find some supposed slip-up to exploit. This time it was Gove’s admission that “I cannot say that everybody in their current job will keep their job” following a Brexit. This, the Remain [...]
Pubs, restaurants, garden centres and clothes stores win in early summer spending spree June 7, 2016 Consumer spending roared back in May with shoppers celebrating the arrival of warm weather by splashing the cash in pubs, restaurants and garden centres. The latest spending data from Barclaycard showed consumer spending jumped 3.6 per cent after weak figures for March and April saw growth fall to a two-year low. Spending in pubs jumped [...]
Retail sales back to growth in May as warmer weather encourages spending June 7, 2016 Retail sales picked up in May as consumers took to the internet to start their summer splurge. Sales grew by 1.4 per cent in the UK retail industry, following two months of flat-lining, in a welcome, if modest, boost to the struggling industry, according to the British Retail Consortium (BRC). Once again, however, sales growth was driven [...]
UK automotive industry to accelerate investment plans June 7, 2016 Suppliers to the UK's car makers will invest £225 million over the next three years in a big boost to the UK's manufacturing base. Research by the Society of Motor Manufacturers and Traders (SMMT) of 100 members of the UK car making supply chain showed an overwhelming majority of companies feel confident in the health of the industry and optimistic [...]
Retail and manufacturing slowdown hits the logistics industry June 7, 2016 Logistics firms are being squeezed by a higher cost of doing business and increasing pressure from struggling retailers and manufacturers, according to a new report. Barclays found 49 per cent of businesses said trading conditions had become more difficult over the last six months, as its measure of confidence hit its lowest level since the [...]
Lord Stern delivers stark warning to Mark Carney’s climate task force June 6, 2016 A leading economist said oil, gas and coal firms risk financial ruin if they ignore global climate agreements, in a stark warning to the task force set up by Bank of England governor Mark Carney. Lord Nicholas Stern, who is renowned for his work on climate change, warned: "Business models reliant on the assumption that governments were [...]
Fed’s Yellen concerned by recent shock jobs report but remains “cautiously optimistic” June 6, 2016 The recent jobs report that showed a slow down in the number of jobs the US economy is adding has been called "concerning" by the Fed chair Janet Yellen. Her remarks will reinforce market expectations that the US interest rate will be held steady. Bloomberg average estimates of an interest rate hike in June fell to two [...]
At the close: FTSE 100 bulldozes over Brexit concerns as oil and metal prices climb June 6, 2016 The FTSE 100 managed to kick off the week with a rise today, finishing up one per cent at 6,273.40 points. A jump in commodity prices managed to offset fears of Brexit that dragged down house builders. A flurry of recent polls have put the leave campaign neck-and-neck with remain as the 23 June vote draws nearer. The news [...]
Bond yields in the developed world hit a record low – even the EU referendum won’t stop them falling June 6, 2016 Bond yields across the advanced world have touched a record low. The fall comes as the US looks set to delay its next interest rate hike, the effects of quantitative easing and negative interest rates continue to take hold and political uncertainty mounts. The yield on Bloomberg's global developed sovereign bond index dropped to 0.62 per cent – [...]
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 [...]