China exempts some US goods from further tariffs ahead of talks September 11, 2019 China has exempted 16 US products from additional tariffs, its finance ministry said this morning, in a sign of good will ahead of high-level talks this month and next. Read more: Return of US-China trade talks pushes up Asian markets Products such as animal feed, fish meal, some anti-cancer drugs and lubricants will be exempt [...]
Watch out fiscal conservatives – the mood has shifted and the spending taps are on September 11, 2019 The Autumn Spending Review announced by the chancellor Sajid Javid barely raised a ripple last week. Yet the increase planned in 2020/21 for what the Treasury calls “day-to-day departmental spending” is the highest for 15 years, no less than 4.1 per cent in real terms. This spending pays the running costs of public services, the [...]
UK unemployment fall pushes earnings growth to 11-year high September 10, 2019 The number of Britons without a job fell in the three months to July to a 45-year low, official figures have shown today, helping total earnings growth hit a decade high. Read more: Hiring intentions climb at financial services firms as Brexit nears UK unemployment was estimated at 3.8 per cent in the period May [...]
Hiring intentions climb at financial services firms as Brexit nears September 10, 2019 Firms in the finance and business services sector intend to take on new staff at the fastest rate in over a year as they ready themselves for the 31 October Brexit deadline, a survey has shown today. Read more: BoE chief economist cautions against interest rate cut with employment high Meanwhile, low levels of unemployment [...]
World Bank’s Georgieva unopposed for IMF seat September 9, 2019 The chief executive of the World Bank is poised to take over the International Monetary Fund after she was revealed as the only candidate. Kristalina Georgieva will be considered after nominations closed on Friday, the IMF said today. Read more: Europe select Kristalina Georgieva for IMF top job The Bulgarian economist is set to meet [...]
UK economy shakes off recession fears with growth in July September 9, 2019 The UK economy grew by more than expected in July, official figures have shown, allaying fears that Britain could be heading for a recession. Read more: Into the red: UK economy shrinks for first time in seven years British GDP expanded by 0.3 per cent month on month in July, after stagnating in June. Economists [...]
Going Dutch: UK investment in Netherlands soars since Brexit referendum September 9, 2019 UK investments in the Netherlands have jumped more than four-fold to €80bn (£72bn) since the Brexit referendum in 2016, the Dutch statistics office said today. In the same period, Dutch investments in the UK fell from €50bn to negative €11bn as Brexit uncertainty led to capital outflows. Read more: Netherlands in talks with 325 companies [...]
DEBATE: Should capital gains tax be raised and aligned with income tax? September 9, 2019 Should capital gains tax be raised and aligned with income tax, as it was under Margaret Thatcher? YES, says Robert Palmer, executive director of Tax Justice UK Why should someone who goes out to work for a living pay a higher rate of tax than someone living off their wealth? It’s an important question, especially [...]
Service sector confidence falls as UK nears recession September 9, 2019 Optimism about the economy in the services sector fell sharply in August to levels not seen since 2013, according to a report from accountants BDO. BDO’s services optimism index dropped 3.89 points in August to 95.49 per cent, only just above the 95 level that indicates a recessionary mindset has taken hold. Read more: Business [...]
London’s private sector growth outperforms rest of country in August September 9, 2019 Growth in London’s private sector slowed in August, but the capital outperformed the UK as a whole as new business, activity and employment all expanded. Read more: UK economy close to recession after stagnant services sector data Despite the expansion, companies’ overall confidence fell to a five-month low in August as Brexit uncertainty weighed on [...]