Eurozone back in inflation for first time in five months June 30, 2016 Existential crises, political arguments and the clamour for referendums aside, the Eurozone nudged back towards a semblance of normality today, with a return to inflation in June. Price rose by 0.1 per cent in the year to June, according to the official EU stats body, Eurostat, ticking into positive territory for the first time since January. Cheaper energy [...]
UK current account deficit running at a near record high June 30, 2016 The UK's current account deficit is still running at a near record high, stoking fears about a balance of payments crisis in the wake of the UK's referendum on the EU. The deficit – a measure of the difference between money coming in and going out of the country – came in at £32.6bn in the [...]
Consumer confidence stayed steady in June ahead of the EU referendum – but the public was gloomy about the global economic outlook June 30, 2016 Consumer confidence stayed steady in June, immediately before the UK voted on its membership of the European Union. The GfK consumer confidence index for June, which was researched between 1 June and 15 June, remained at May's level of -1. Consumers were far more positive about their own personal finances than the global economic situation. The public's attitude [...]
Nigel Farage says Britain could continue to contribute to EU budget – but will not compromise on freedom of movement June 30, 2016 Ukip leader Nigel Farage has said Britain will make compromises in order to access the Single Market but will not back down on immigration. Farage made the remarks in an interview with French newspaper Le Figaro following the last week's vote to leave the European Union. He said the UK could continue to contribute to the EU budget [...]
Britain will need an effective opposition June 30, 2016 Given the scale of the change that the British people have voted for, and the chaos it has unleashed across European politics and markets, it may seem strange that the number one story in town has been the circular firing squad that currently passes for Her Majesty's Opposition. Jeremy Corbyn has endured days of high-profile [...]
Trade groups call for taskforce to safeguard UK’s Brexit negotiations June 30, 2016 Business groups are mounting pressure on the government to take action following the UK’s vote to quit the European Union. The British Chambers of Commerce (BCC) has called for the creation of a business taskforce to “ensure business priority issues form a key part of both domestic policy and EU exit negotiations”. The proposals were [...]
Global investors back London to retain financial centre crown after Brexit June 30, 2016 London will retain its position as a world-leading financial centre despite last week’s Brexit vote, according to a poll of global institutional investors seen by City A.M. Two-thirds of those surveyed by FTI Consulting said the capital is unlikely to lose this coveted status. The results of the survey emerge as the FTSE 100 staged [...]
What now? The UK and the EU Single Market June 29, 2016 Now the UK has voted to leave the European Union, the focus on what kind of relationship we should forge with the trading bloc has taken on a new intensity. We are no longer talking hypothetically and the debate over whether we should have “access to” or be “in” the Single Market is more than semantic. [...]
It’s premature to assume Britain will plunge into recession June 29, 2016 As the dust settles on last week’s referendum, pretty much every verdict I have heard or read agrees that the UK economy faces a period of contraction and the market has moved very quickly to price that scenario in. At first glance, this case is persuasive. There has been clear evidence of deferred investment in [...]
Politicians in US, Australia, New Zealand and South Korea push for new UK trade deals after Brexit June 29, 2016 Politicians in the United States, Australia, New Zealand and South Korea are keen to secure new trade deals with the UK as it prepares to leave the European Union. In the US, speaker of the house Paul Ryan has said: “We need to emphasise that they are our indispensable ally, we have a special relationship, and [...]