FTSE companies are depressed about the economy – but they don’t really care about the upcoming EU referendum and the risk of Brexit May 23, 2016 FTSE 350 firms are pessimistic about the UK economy, but the prospect of Brexit doesn't seem to have fazed them, according to a new survey out today. Companies' confidence in the country's economy is at its lowest ebb since 2012, with just 12 per cent expecting an improvement over the next 12 months. This is down from 40 per cent [...]
Some bad news for Japan, as exports stay in the red for seventh consecutive month May 23, 2016 Japan's exports were still in the red in after Ministry of Finance data released today revealed a drop of 10.1 per cent year on year in April – despite stronger growth figures. This is the seventh straight month of declines, after a strong yen and weakness in China took their toll. Exports to China, which remains Japan's [...]
Think tank’s report slams UK’s obsession with inequality, saying it is based on misconceptions May 23, 2016 The UK's obsession with inequality is in our collective imagination, as many people are far better off than they were just a few decades ago, a report out today argues. The research paper by the Institute of Economic Affairs (IEA) illustrates that income equality has been relatively stable for the last 25 years, while wealth [...]
Brexit would trigger a recession, says Osborne May 23, 2016 Brexit would launch the UK’s economy into a year-long “DIY recession”, according to new research from the Treasury, with GDP possibly dropping by as much as six per cent. The controversial research published today warns that a vote to leave would represent “an immediate and profound” shock for the economy. Speaking today, George Osborne is expected [...]
Week ahead: Investors look to economic data as G7 leaders meet May 22, 2016 Market movements this week will be heavily influenced by both the meeting of the group of seven world leaders in Japan and a flood of economic data throughout the week. After a strong finish on Friday, with the FTSE 100 closing up 102.97 points to end the week at 6,156.32, investors will be looking for [...]
Brexit: If the pound weakens, is it such a bad thing? May 22, 2016 Sterling has been swinging as the threat of a potential British exit from the EU looms large. The pound has fallen by eight per cent against the dollar in the last year. It reached a two- and-a-half year low in April, as international investors sold out of sterling assets. The pound then rose last week as [...]
Greek parliament approves bailout reforms May 22, 2016 Greece’s parliament just approved a controversial bill of bailout reforms, ahead of a vital Europgroup meeting on Tuesday. The bill is likely to include the last chunk of a €5.4bn ($6.06bn) austerity package which Greece will implement by 2018. The much-needed bill increases tax, creates a new privatisation fund and frees up the sale of non-performing loans in exchange for bailout loans [...]
Now NHS boss speaks out on Brexit risks May 22, 2016 "When the British economy sneezes, the NHS catches a cold," was the stark warning as the boss of the NHS waded into the Brexit debate on Sunday morning. The chief executive of the National Health Service Simon Stevens was appearing on the BBC's Andrew Marr show to discuss its financial problems after new figures last week revealed [...]
Britain will lose brightest grads in Brexit, study claims May 22, 2016 Britain will miss out on some of the best and brightest graduates if the country votes to leave Europe, new research claims. While graduates from the EU make up just a small proportion overall of those who have studied at undergraduate level, they are more likely to achieve first class degrees and earn higher salaries, making up [...]
Prices will go up: Retail bosses issue Brexit “catastrophe” warning May 22, 2016 Retail heavyweights have come out against Brexit, warning that leaving the European Union would be a "catastrophe" for Britain and a "massive shock to the system". The former bosses of four of Britain's biggest retailers – Tesco, Sainsbury's, M&S and B&Q – have warned Brexit will cause prices to rocket, a spike in inflation, job losses and the pound [...]