Private sector hiring intention hits seven-year low amid Brexit impasse June 11, 2019 Hiring intentions among UK companies slumped to their lowest level since 2012 in the second quarter of the year, a new survey has shown, as Brexit uncertainty weighed on employers’ minds. Read more: UK wages rise as employment stays at record high Plans for hiring among firms in the finance and business services sector saw [...]
Trump says tariffs on remaining Chinese goods set to come into force June 10, 2019 US President Donald Trump has confirmed that further tariffs on Chinese goods will come into force unless a trade deal between the two sides is reached. Read more: FTSE hits five-week high on Trump tariff reprieve In an interview with US news network CNBC, Trump said that if Chinese President Xi Jinping did not attend [...]
UK trade gap widens as ministers seek Brexit deals June 10, 2019 The UK’s overall trade deficit widened by £2.7bn to £15.6bn in the three months to April, as Britain increased its imports of goods, official statistics today showed. Read more: Pound falls as UK economy shrinks by 0.4 per cent in April Yet if certain volatile goods are excluded, the trade deficit narrowed by £4.2bn in [...]
Pound falls as UK economy shrinks by 0.4 per cent in April June 10, 2019 The UK economy contracted by 0.4 per cent in April as car plant shutdowns due to Brexit and the unwinding of stockpiling dented output, official figures have revealed. Read more: Brexit helps manufacturing fall to 34-month low Sterling fell below $1.27 as traders digested the worse-than-expected news. It had fallen 0.4 per cent to buy [...]
London’s private sector bounces back after weak April June 10, 2019 London’s private sector bounced back last month from a weak April, with firms reporting the first rise in new business in 2019, according to a survey from Natwest. Read more: London takes top spot in future global cities ranking The purchasing managers’ index (PMI) for the capital – which measures the output of the private [...]
Small businesses pessimistic over Brexit and regulations June 10, 2019 Small business owners are feeling increasingly negative about their prospects in the face of Brexit, a rising minimum wage, and pensions and tax changes, according to a survey. Read more: Small businesses warn of falling revenues and recruitment problems Seven in ten firms do not expect things to get better in the next three months, [...]
‘Is this serious?’ Boris Johnson’s £39bn threat gives City the jitters June 10, 2019 Boris Johnson’s threat to withhold the UK’s £39bn Brexit divorce bill raised eyebrows in the City yesterday and provoked a strong reaction from across the Channel. The former mayor of London vowed to hold onto the cash to force the EU to give Britain a better withdrawal deal, as part of his pitch to become [...]
G20 statement swerves call to end US-China trade war June 9, 2019 G20 finance ministers have warned “trade and geopolitical tensions” pose a risk to international growth in an official statement, without directly addressing the US-China trade dispute. Read more: IMF head: US-China trade war biggest threat to global growth After much debate over the wording of a “communique” from their meeting in Japan, ministers today said [...]
IMF head: US-China trade war biggest threat to global growth June 9, 2019 The head of the International Monetary Fund (IMF) has labelled the US-China trade war the principal threat to the global economy. Read more: IMF chief says majority of countries to see slow growth in 2019 Christine Lagarde said US-China tariffs could reduce the level of global GDP by 0.5 per cent or around $455bn (£357bn) [...]
Bank of England chief economist says UK rate rise is on the horizon June 8, 2019 The Bank of England’s chief economist, Andy Haldane, has said the UK is nearing the time it will need to raise interest rates to keep inflation pressures in check. Haldane wrote in The Sun on Saturday that “a lost decade” of wage growth is coming to an end ahead of “steady if not spectacular” growth [...]