Chancellor announces extra £2bn Brexit funding during Westminster chaos September 3, 2019 Chancellor Sajid Javid will announce a further £2bn to be spent on Brexit when he lays out government funding for the next year tomorrow, taking the total spent on Brexit planning to £8bn. Read more: Rebel numbers creep up ahead of critical Brexit vote The new money is to be spent in the year after [...]
US manufacturing sector shrinks for first time in three years, survey shows September 3, 2019 The US manufacturing sector shrank for the first time in three years in August, according to a respected industry gauge, as trade tensions and a global economic slowdown weigh on factory output. Read more: Donald Trump says China talks going well and turns fire on EU The purchasing managers’ index (PMI) from the Institute for [...]
Donald Trump says China talks going well and turns fire on EU September 3, 2019 US President Donald Trump has said his country is “doing very well” in its negotiations with China and urged Beijing to reach a deal before the 2020 presidential elections. Read more: US-China trade war escalates with fresh tariffs He said that if a trade deal was still under discussion and he won the election, he [...]
Goldman Sachs hikes no-deal Brexit probability ahead of crucial day in Westminster September 3, 2019 Goldman Sachs has raised its expectations of Britain leaving the European Union without an agreement, as today’s political tussling in Westminster fuels further speculation in the City of a no-deal Brexit. The global bank has said the prolonged suspension of parliament has led it to hike its forecasts of a no-deal Brexit from 20 per [...]
Construction industry output ‘drops like a brick’ to a decade low September 3, 2019 Britain’s construction industry suffered its sharpest decline in new work in more than a decade last month, as economic uncertainty hampered decision making among customers. New orders slumped at their worst rate since March 2009, according to closely-followed industry barometer the IHS Markit Purchasing Managers’ Index (PMI), which read just 40 for the category where [...]
Sterling spirals further as Boris Johnson sparks general election speculation September 2, 2019 Sterling has fallen through the $1.21 mark as speculation swirls that Prime Minister Boris Johnson is preparing to call a general election and the Tory party prepares for a dramatic showdown. Johnson has unexpectedly called a cabinet meeting for 5pm, increasing speculation that he could be about to call a ‘people versus parliament’ election. Read [...]
Sterling sinks after ‘simply shocking’ UK manufacturing data September 2, 2019 Sterling plummeted against the euro and the dollar in response to weak UK manufacturing data as economists warned “there is no clarity whatsoever” surround Brexit. Markets panicked as figures showed output from the UK manufacturing sector sank to a seven-year low in August, sending the pound down against major currencies. Read more: UK manufacturing output [...]
European factory ‘summer slump’ continues through August September 2, 2019 European factory activity stagnated further in August, as a gloomy spell for companies was extended by a continued fall in demand. Manufacturing output fell for the seventh month in a row, according to IHS Markit’s Purchasing Managers’ Index (PMI), a closely-followed measure of sector activity. Economists recorded a PMI score of 47, where anything below [...]
UK manufacturing activity plunges to seven-year low as economic slowdown bites September 2, 2019 UK manufacturing output crashed to a seven-year low in August as Brexit doubts intensify and a wider economic slowdown hurts firms, according to a closely followed measure of sector activity. Manufacturing output plunged to its worst level since 2012 last month, according to IHS Markit’s Purchasing Managers’ Index (PMI). Read more: Toyota to halt production [...]
Swiss minister says country unlikely to sign EU deal soon September 1, 2019 Switzerland and the European Union are unlikely to reach an agreement this year over their long-awaited partnership treaty, the delay of which has caused relations to sour, the country’s economy minister said today. Read more: Eurozone output beats expectations in August but economy remains weak Economy minister Guy Parmelin also said it would be “risky” [...]