The economy is slowing – can central bankers fight the next downturn? November 19, 2019 The global economy has not had a good year, to put it mildly. Trade-war uncertainty and Chinese weakness have taken a heavy toll, with growth in 2019 set to be the worst since the financial crisis, according to the International Monetary Fund. Such an environment has produced many doomsters and gloomsters, to use Boris Johnson’s [...]
How the pound could react to a Tory General Election victory November 18, 2019 Buffeted by Brexit and a global economic slowdown, the pound has had a wild ride in 2019. Now, City economists believe sterling is at a crossroads, with the upcoming General Election poised to send sterling soaring – or diving. A Conservative majority could fire the pound above $1.40, analysts said, but a Labour victory may [...]
Economic insecurity ‘new normal’ as Brits fear for living standards November 18, 2019 Economic insecurity has become the “new normal” for Brits as millions fear their living standards will fall over the next decade, the boss of a top charity is set to warn. Matthew Taylor, chief executive of the Royal Society for the Encouragement of Arts, Manufactures and Commerce (RSA), will today argue that changes in the [...]
Number with wages set by Whitehall could treble after election November 15, 2019 The proportion of workers paid the minimum wage would treble under Labour’s plans and double under the Tories, a report has found, causing a dramatic increase in the number whose pay is set directly by Whitehall. The Conservatives have pledged to raise the so-called national living wage to around £10.50 by 2024 and extend it [...]
Business leaders join forces to push competitiveness agenda for UK November 15, 2019 Business leaders from companies such as John Lewis, Lloyds Banking Group, Deloitte and BAE Systems will meet today to promote the importance of business competitiveness. A business group pushing the competitiveness agenda called Be the Business will today launch Business Leadership for a Better Decade campaign to try and demonstrate the importance of competitiveness to [...]
UK retail sales unexpectedly fall as economy slows November 14, 2019 The amount of goods sold in UK shops unexpectedly fell in October, official figures have shown, in the latest sign that the economy is slowing. The weak performance will be a concern to retailers as the sector heads towards Christmas, especially given that the period covered Halloween, a traditionally busy time for shops. Read more: [...]
Germany beats recession fears in third quarter – but only just November 14, 2019 Germany narrowly avoided falling into recession in the third quarter thanks to unexpectedly strong consumer spending, data showed today. Europe’s largest economy thwarted expectations of a contraction as it eked out a 0.1 per cent quarter-on-quarter growth rate. Read more: Eurozone industrial production beats predictions but Germany remains weak The country’s GDP posted a 0.5 [...]
Fed chair Jay Powell foresees ‘sustained expansion’ for economy November 13, 2019 US Federal Reserve chairman Jay Powell has said he foresees a “sustained expansion” of the country’s economy, in a testimony to Congress a day after President Trump ripped into the central bank. However, Powell said if a downturn should occur then the government would need to fight it with fiscal policy. Yet he said this [...]
Gap between Tory and Labour tax plans hits its biggest in a generation November 13, 2019 The Conservatives and Labour’s plans for taxes are the most different in a generation, a new report has said, with a “tax pledge gap” of £60bn set to become a key election battleground. Labour is expected to call for tax increases of at least £50bn a year in its manifesto, while the Conservatives’ are likely [...]
Eurozone industrial production beats predictions but Germany still weak November 13, 2019 Industrial production the Eurozone grew for the second straight month in September, official figures showed today, beating analysts’ expectations. Read more: Mario Draghi’s ECB reign ends with Eurozone ‘close to stagnation’ The slump in Germany’s factory sector continued, however, with output falling a chunky one per cent as Europe’s biggest economy slides towards recession. Industrial [...]