German investor sentiment falls once again October 15, 2019 The mood among German investors darkened in October, a survey showed today, as concerns over the direction of Europe’s biggest economy continue to mount. Think tank ZEW’s economic sentiment indicator fell to minus 22.8 points in October from minus 22.5 in September. This was a smaller fall than economists had predicted, but highlights expectations of [...]
Bank of England’s Mark Carney defends move not to publish governor shortlist October 15, 2019 Bank of England governor Mark Carney has defended the application process to lead the central bank and suggested that too much transparency would discourage people from applying. Carney is due to step down in January and MPs and pressure groups have called on chancellor Sajid Javid to publish the short list of candidates to allow [...]
IMF warns 2019 global growth will fall to lowest since financial crisis October 15, 2019 Global economic growth will be just three per cent this year, the International Monetary Fund (IMF) has predicted, its lowest level since the financial crisis and a downgrade from the organisation’s April prediction. Read more: IMF chief says trade wars to cost global economy $700bn The “big four” developed economies of the US, China, the [...]
UK unemployment rate rises as Brexit fears hit labour market October 15, 2019 The UK’s unemployment rate rose in the latest quarter, according to data released today, coming off a long running 45-year low as Brexit hit the labour market. Unemployed workers rose by 0.1 percentage points compared to the previous quarter to 3.9 per cent between June and August, Office for National Statistics (ONS) figures showed. Read [...]
Eurozone industrial output bounces back but outlook remains gloomy October 14, 2019 Eurozone industrial production grew in August thanks to increased investment in machinery, but analysts warned that the general outlook remained gloomy. Industrial output ticked up 0.4 per cent on the previous month, ahead of market consensus of 0.3 per cent, according to figures from Eurostat. Read more: Gloom thickens over Eurozone economy as Germany factory [...]
Trio wins economics Nobel Prize for work on poverty October 14, 2019 Economists Abhijit Banerjee, Esther Duflo and Michael Kremer have taken home the 2019 Nobel Economics Prize for their experimental work on the fight to alleviate global poverty, the Royal Swedish Academy of Sciences announced today. Read more: Nobel Prize for literature awarded to Olga Tokarczuk and Peter Handke Duflo, who is from France, became the [...]
Oil prices fall amid uncertainty over US China trade deal October 14, 2019 Oil prices fell this morning amid uncertainty over the first phase of a trade deal between the US and China. Markets were lifted two per cent by optimism over a thaw in the frosty relations by the end of last week, but Brent Crude was down 1.11 per cent this morning, valued at $59.84 per [...]
Remember, remember, 6 November: Sajid Javid sets date for Budget 2019 October 14, 2019 Chancellor Sajid Javid has revealed the 2019 Budget will take place on Wednesday, 6 November and could contain a raft of emergency measures to help the economy in the event of no deal. If the UK does leave the European Union on the scheduled 31 October departure date, it will be the first post-Brexit budget, [...]
Donald Trump reveals phase one trade agreement with China October 12, 2019 The US and China have come to an agreement on the first phase of negotiations, President Donald Trump confirmed on Friday. The “substantial” trade deal covers intellectual property, financial services and large agricultural purchases. Read more: Trump turns against Fox News after latest impeachment poll Following talks with China’s Vice Premier Liu He, Trump told [...]
Donald Trump says US-China trade talks going well October 11, 2019 US President Donald Trump said today that the trade talks between the US and China were going well. He tweeted: “Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something [...]