US private payrolls growth slows sharply in August as labour market eases August 30, 2023 US private payrolls increased less than expected in August, the latest indication that the labour market was losing steam, though it remains tight. Private payrolls rose by 177,000 jobs last month, the ADP National Employment report showed on Wednesday. Economists polled by Reuters had forecast private employment would increase by 195,000. Data for July was [...]
New borrowing slows as Bank of England’s rate hikes take effect August 30, 2023 Consumer borrowing increased at a slower rate than expected last month as the Bank of England’s interest rate hikes hit demand for new loans. Bank of England figures out this morning showed that the monthly increase in consumer credit was £1.2bn, £400m less than the £1.6bn increase seen in June. Although borrowing on credit cards [...]
German outlook bleak as consumer sentiment falls again August 29, 2023 German consumer sentiment is expected to fall in September, due to declining income expectations and propensity to buy, a GfK institute survey showed on Tuesday. The institute’s consumer sentiment index fell to -25.5 heading into September from a slightly revised -24.6 in August, below expectations of analysts polled by Reuters of a reading of -24.3. [...]
FTSE 100 reshuffle: M&S in, Abrdn out, but who else is coming and going? August 29, 2023 As the reshuffle of the FTSE 100 index approaches, several firms are vying for a coveted spot among the UK's top-tier stocks.
Only one in five think the Bank of England is doing a good job – but they still trust it more than politicians August 29, 2023 Just 18 per cent of the public think the Bank of England are doing a good job, but a majority still think politicians should not be given control of monetary policy.
A Legacy of Difference Making August 24, 2023 | Sponsored We were basically running insurance companies,” the likable Barry Gale tells City A.M. of his career before joining Aon. Gale was at a Big Four consultancy firm, working on restructuring and insolvency. “But without the front-end, bringing in new clients.” He and his colleagues soon found out that winding up insurance firms was notably more [...]
China’s slumping economy signals the end of a high growth era August 24, 2023 Exports have slumped, growth has stalled and the economy even slipped into deflation. The youth unemployment figures have gotten so bad that the government has stopped publishing them. These figures - or their absence - reveals more than an economy struggling to grow after Covid. What they demonstrate is that China’s growth model over the past few decades has run out of steam.
FTSE 100 close: London markets finish in the green despite PMI dip August 23, 2023 London markets rose today despite new PMI data showing a significant slump in UK business activity. The FTSE 100 closed up 0.72per cent after a day in the green, while the FTSE 250, which is more aligned with the health of the UK economy, climbed 1.1 per cent. S&P Global’s Purchasing Managers’ Index (PMI) for [...]
PMIs: UK economy slips hard in August as recession warning lights flash August 23, 2023 The UK economy has contracted significantly this month according to a closely-watched index - triggering renewed recession warnings
UK pay deals cool for first time in 2023, easing pressure on BoE August 23, 2023 Pay deals awarded by British employers cooled for the first time this year in the quarter to July, which may calm the worries of Bank of England officials who fear wage growth is feeding inflation, a survey showed on Wednesday. Median basic pay deals in the three months to the end of July fell to [...]