FTSE 100 slumps over 2.5 per cent as global economy darkens October 2, 2019 Britain’s FTSE 100 has tumbled 2.6 per cent today as weak economic data and political crisis fuel investor scepticism about the UK economy. Read more: UK construction activity suffers ‘devastating’ drop as Brexit kills demand US stock markets followed their British counterpart sharply downwards shortly after they opened, following more negative data for the world’s [...]
Rising Risk (Part I): Accounting shenanigans and alternative investments October 2, 2019 | City Talk In this first instalment of a two-part piece, Sebastien Canderle says PE fund managers are getting creative with their accounting – and EBITDA seems particularly malleable. Seasoned auditors know that the risk of fraud increases when a client experiences brisk organic growth or M&A activity. During the 1990s, the most spirited dealmakers included telecoms operators [...]
German think tanks once again slash growth forecast October 2, 2019 A group of top German think tanks today slashed their growth forecasts for the European powerhouse and warned that a disorderly Brexit could knock 0.4 per cent off the country’s GDP. Read more: Eurozone manufacturing sector suffers worst month in seven years The economy is now predicted to grow by just 0.5 per cent in [...]
FTSE 100 sinks as Brexit ultimatum and manufacturing crisis pummel European stocks October 2, 2019 The FTSE 100 fell one per cent in early trading today as markets stumbled over Boris Johnson’s “take it or leave it” Brexit ultimatum and weak US economic data. London’s blue-chip index dropped to 7,287.8 points shortly after open today, following global stocks plunging into a sea of red overnight. Read more: Boris Johnson’s ‘clarity [...]
What kind of person crosses the Nevada desert to investigate UFO conspiracies? October 2, 2019 Area 51 is a mysterious place. Located deep in the Nevada desert, it is home to highly classified US military operations. Rumours abound that it harbours secrets about extraterrestrial life. In June, a podcaster released an interview with someone who claims to have studied flying saucers in Area 51. The video spread like wildfire on [...]
Small business group warns over effects of wage hike October 1, 2019 The Federation of Small Businesses (FSB) has urged caution on chancellor Sajid Javid’s plans to significantly increase the national minimum wage, saying many of its members would prefer ten years to implement the rise rather than five. Michael Mealing, employment policy chief at the FSB, also warned that for low-pay areas such as care and [...]
WTO blames tariff wars as it slashes global trade forecast October 1, 2019 The World Trade Organization (WTO) has slashed its forecast for global trade this year to below half its previous estimate, pointing the finger at the US-China tariff war and also blaming Brexit. In a report into global trade, WTO economists today warned that “further rounds of tariffs and retaliation” in the trade war “could produce [...]
US factories suffer worst month since 2009 – and Trump blames the Fed October 1, 2019 The US manufacturing sector contracted at its fastest rate in a decade in September, according to a closely-watched survey, as trade wars and a global slowdown took their toll on factories. Read more: US manufacturing sector suffers worst month in seven years in April The September purchasing managers’ index (PMI) from the Institute for Supply [...]
Eurozone inflation hits three-year low in September October 1, 2019 Inflation in the Eurozone dropped to a three-year low in September due to cheaper energy, official figures showed today, as the European Central Bank (ECB) continues to struggle to hit its price-rise target. Read more: Eurozone manufacturing sector suffers worst month in seven years Yet with energy excluded, inflation edged slightly higher, although it was [...]
Eurozone manufacturing sector suffers worst month in seven years October 1, 2019 The Eurozone’s manufacturing sector suffered its worst month in seven years in September, according to a closely-followed industry survey, as the malaise in the area’s economy shows no sign of relenting. Read more: Sterling sinks after ‘simply shocking’ manufacturing data Factory output decreased markedly in September, with IHS Markit’s Eurozone manufacturing purchasing managers’ index (PMI) [...]