Asian stocks soar after China halves US tariffs February 6, 2020 Asian stocks surged overnight after China announced it would halve tariffs on about 1,700 US goods in a bid to boost market sentiment amid the coronavirus outbreak. China’s Shanghai composite index finished 1.7 per cent higher, Japan’s Nikkei jumped 2.4 per cent, and Hong Kong’s Hang Seng rose 2.5 per cent. Beijing’s finance ministry said [...]
London is a third more productive than the rest of the UK February 5, 2020 Britain’s regional productivity gap has been laid bare by new statistics that showed London was 32 per cent more productive than the UK average in 2018. The figures from the Office for National Statistics (ONS) also showed that the south east further pulled away from the north east and Yorkshire in 2018 – the most [...]
Can the UK economy rebound after Brexit? February 5, 2020 | City Talk Can the UK economy turn a corner? The economy has been on the verge of recession recently. Whether it improves as Brexit uncertainty lifts largely depends on the UK government’s approach to negotiations with the EU and the progress it makes. If it can avoid headlines about looming tariffs, then business confidence and investment can [...]
UK services sector rebound beats expectations after election February 5, 2020 The UK services sector surged in January, according to new survey data, beating initial estimates to deliver its strongest growth in over a year after the December General Election brought some clarity to the economy. The IHS Markit/Cips index of services activity hit 53.9 in January, its best reading since September 2018. It was well [...]
The ‘graduate premium’ is little more than a myth — invest in further education instead February 5, 2020 Universities and their students are seldom out of the news. Ever since Tony Blair pledged to send 50 per cent of 18–21 year olds to university, they have been a persistent topic in political economy. University towns now notoriously favour Labour at the ballot box, often an island of red in a surrounding sea of [...]
UK PMI: Construction sector shows signs of life after election February 4, 2020 Output in the UK’s construction sector in January fell at its slowest pace since May of last year, survey data has shown, in a sign of green shoots for Britain’s builders amid lower political uncertainty. The IHS Markit/Cips gauge of construction output rose to 48.4 in January from 44.4 in December. The reading was still [...]
Just two women applied to be governor of the Bank of England February 4, 2020 Just two of the 23 people who applied to succeed Mark Carney as governor of the Bank of England were women, despite the Treasury enlisting a specialist headhunting firm in a bid to diversify the list of candidates. The government named Financial Conduct Authority boss Andrew Bailey, a former central banker, as the BoE’s next [...]
Skills shortages continue to hit growth as UK employers struggle to find the right talent February 4, 2020 Skills shortages are continuing to impact economic growth, with almost three quarters of businesses reporting difficulties recruiting new talent at the end of last year, a new report found. While the UK’s labour market remained stable in the fourth quarter of 2019, with over half of firms attempting to recruit, 72 per cent of businesses [...]
US manufacturing sector rebounds amid lower trade tensions February 3, 2020 The US manufacturing sector rebounded in January after shrinking for five straight months, survey data showed today, in a sign that the country’s factories are set for a better year than they had in 2019. The Institute for Supply Management’s (ISM) factory gauge rose to 50.9 last month, its highest point since July, up from [...]
Boris Johnson: UK doesn’t need EU rules for Brexit trade deal February 3, 2020 Prime Minister Boris Johnson has said the UK will not accept EU rules as part of a post-Brexit trade deal, but said Britain is not going to engage in a “cut-throat race to the bottom” standards. In a heavily trailed speech in London, the PM said: “There is no need for a free trade agreement [...]