IFS questions Labour’s nationalisation plan for utilities December 3, 2019 The Institute for Fiscal Studies (IFS) has questioned Labour’s plans to renationalise swaths of the economy, suggesting that the party’s aims could be achieved by changing regulations instead. The economic think tank also said the up-front costs of nationalisation were much less relevant than how well the assets would be managed by the public sector. [...]
FTSE 100 slumps as Donald Trump says China deal could wait until end of 2020 December 3, 2019 The FTSE 100 plunged this afternoon along with global stock markets after US President Donald Trump suggested he could wait until after the 2020 presidential election to strike a trade deal with China. Trump’s comments shook investors whose nerves had already been frayed by the President’s decision to slap tariffs on Brazil and Argentina yesterday [...]
UK construction sector shrinks again amid election uncertainty December 3, 2019 The UK construction sector contracted for the seventh month running in November as new work fell sharply amid yet more political uncertainty, survey data has shown. The poor performance of the sector led firms to lay off workers for the eighth month in a row, in the latest sign that Britain’s jobs boom is slowing. [...]
Asian stocks slump after Trump slaps tariffs on Brazil and Argentina December 3, 2019 Asian stocks slipped today after US President Donald Trump slapped tariffs on imports from Brazil and Argentina to spike global trade tensions once again. Soft US manufacturing data compounded the problem for world markets and saw global stocks fall into the red as trading opened today. Read more: European stocks have worst day in two [...]
Labour isn’t even trying to make its slapdash sums add up December 3, 2019 General Elections are always an uncomfortable period for those of us who like our facts straight and our figures honest. All too often, politicians of all stripes seem to be treating the Liberal Democrats’ infamous bar charts not as a scandal, but an inspiration. Even by modern standards, however, there is something rather special about [...]
FTSE 100 swings into red after Donald Trump announces tariffs on Brazil and Argentina December 2, 2019 US President Donald Trump has said he will restore tariffs on steel and aluminium imports from Brazil and Argentina in the latest salvo of his global trade war. The President tweeted: “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I [...]
US manufacturing sector shrinks for fourth straight month December 2, 2019 The US manufacturing sector shrank at a faster rate than analysts had predicted in November, a closely-watched survey has shown, marking its fourth straight month of contraction. The manufacturing purchasing managers’ index (PMI) from the Institute for Supply Management (ISM) fell to 48.1 in November from 48.3 the previous month. This was well below economists’ [...]
UK manufacturing sector shrinks for seventh straight month as bosses slash jobs December 2, 2019 The UK manufacturing sector shrank for its seventh straight month in November, survey data has shown, causing bosses to cut jobs at the fastest pace in over seven years. Output and new orders also fell in the sector, which makes up around 10 per cent of the economy, as another Brexit delay and the looming [...]
FTSE 100 climbs higher as China manufacturing PMI offsets US-China trade war doubts December 2, 2019 Strong Chinese manufacturing PMI pushed the FTSE 100 higher today despite a lack of progress between the US and China on a trade deal. London’s blue-chip index rose to 7,395.5 points in early trading, up 0.67 per cent. Read more: Asian stocks climb as Chinese manufacturing PMI improves France’s Cac climbed 0.65 per cent to [...]
CBI: UK economy set to slow despite Brexit deal December 2, 2019 The economy will slow next year even if Britain leaves the European Union with a Brexit deal, a new report has predicted, as business investment fails to significantly pick up. The CBI’s economic forecast is the latest report to suggest that Prime Minister Boris Johnson’s Brexit deal will do little to help the economy in [...]