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 [...]
Retail footfall drops again in August as economy slows September 9, 2019 The number of Britons venturing out to visit shops fell again in August, bringing yet more problems for a retail sector that has suffered a number of casualties this year. Read more: Hot weather fails to heat up retail sales in August Footfall fell by 1.3 per cent in August year on year, compared to [...]
Boris Johnson’s former advisor Gerard Lyons misses Bank of England governor shortlist September 7, 2019 The former economic advisor to Prime Minister Boris Johnson has failed to make the final shortlist to become the Bank of England’s next governor. Gerard Lyons had been the favourite to take over from Mark Carney due to his personal relationship with Johnson, but the Treasury have deemed him unsuitable for the role, according to [...]
US adds 130,000 jobs in August as trade war slows growth September 6, 2019 The US added a modest 130,000 jobs to the economy in August, as its trade war with China finally appeared to take a toll on hiring. The figure fell to just 96,000 jobs excluding government recruitment last month, the lowest number since May. Read more: Sterling falls as investors remain cautious ahead of US jobs [...]
How Robert Mugabe brought Zimbabwe’s economy to its knees September 6, 2019 In the United States, a $100 trillion dollar note would be worth more than five-times the country’s GDP. But at one stage in Robert Mugabe’s Zimbabwe it would barely get you a loaf of bread. Zimbabwe’s 100 trillion dollar note had the most zeros of any legal tender on the planet. That reads: $100,000,000,000,000. It [...]
Germany flounders on the brink of recession September 6, 2019 Germany stands on the edge of falling into recession, as industrial output fell again in July, according to figures released today. Economic data on factories showed production fell 0.6 per cent in July, better than June’s 1.1 per cent drop but worse than a Reuters poll predicting a rise of 0.3 per cent. Read more: [...]
Sterling falls back to $1.23 as investors remain cautious ahead of US jobs data release September 6, 2019 Sterling was down against both the dollar and euro in early morning trading as traders await the US non-farm payroll report and key US jobs data. The pound was down by 0.21 per cent against the dollar at 1.229 and against the euro, sterling was behind by 0.35 per cent at 1.113. Read more: Sterling [...]
DEBATE: Is the UK economy already in a recession? September 6, 2019 Is the UK economy already in a recession? Dr Victoria Bateman, lecturer and fellow in Economics at Gonville and Caius College, Cambridge, says YES. Recession. It’s the only thing as guaranteed as death and taxes. Brexit or not, we all know we’re due one. But how low will we go – and for how long? [...]
UK firms appoint staff at slowest rate in three years September 6, 2019 Companies hired permanent workers at the slowest rate in over three years in August, according to a new survey, in a sign that the jobs boom in Britain is slowing. Read more: BoE’s Mark Carney says UK now better-prepared for no-deal Brexit August also saw the weakest increase in total job vacancies in over six [...]
Global stock markets climb after US and China agree to talks September 5, 2019 Stock markets have risen around the world today after the US and China agreed to resume talks over their trade war. Read more: Donald Trump says China talks going well as he turns fire on EU China’s commerce ministry today said high-level negotiations will begin in October, with preparatory meetings scheduled for the middle of [...]