What was behind Friday’s National Grid outage? Network theory, not conspiracy August 14, 2019 National Grid is getting a kicking in the aftermath of last Friday’s electricity blackout. Potential explanations swirl around both social and mainstream media. The system cannot cope with too much wind-generated electricity. The Russians hacked into the computers. A puzzling aspect is that the initial shock to the National Grid was a very small one. [...]
US inflation picks up amid presidential pressure for rate cuts August 13, 2019 US inflation picked up in July as the cost of gasoline and housing rose, raising the possibility the Federal Reserve will hold back from rate cuts in the near future. Read more: Fed cuts interest rates for first time in ten years The US consumer price index (CPI) picked up to 1.8 per cent from [...]
Third of investors expecting recession as trade war fears loom August 13, 2019 More than one in three investors are forecasting a global recession in the next 12 months, marking an eight-year high as trade war worries linger over markets across the world. In the highest recession probability level since October 2011, 34 per cent of investors surveyed by Bank of America Merrill Lynch have said they think [...]
UK wage growth hits 11-year high despite shrinking economy August 13, 2019 Britons’ wages grew faster than at any time since the financial crisis in the three months to June, official figures showed today, despite the UK economy shrinking over the same period. Read more: Into the red: UK economy shrinks for first time in seven years Meanwhile, the number of UK workers without a job rose [...]
Expectations for UK economy fall to lowest level since 2011 August 12, 2019 Public expectations for how the UK economy will fare over the next 12 months are at their lowest level in more than seven years, according to a new report released today. The Office for National Statistics (ONS) has said the outlook for the general economic situation for the year ahead is worse than at any [...]
European stock markets bounce after rough week August 12, 2019 European stocks have opened higher as calm returned to the market following a sharp sell off on Friday driven by the US-China trade war. Read more: US stock markets fall with Donald Trump ‘not ready’ for deal with China The FTSE 100 was 0.6 per cent higher by 8.30am, Germany’s Dax had climbed 1.1 per [...]
Outlook for employment falls as UK teeters on brink of recession August 12, 2019 The outlook for employment in the UK has fallen for the third consecutive growth following half a decade of sustained group, according to research published today. An employment index combining forward-looking employment intentions and the proportion of part-time or temporary workers in the UK jobs market from audit firm BDO, fell to 112.76 points in [...]
US stock markets fall with Donald Trump ‘not ready’ for deal with China August 9, 2019 US stock markets have fallen today after President Donald Trump said his administration was “not ready to make a deal” with China. Read more: Italian markets in turmoil as government edges closer to collapse The tech-heavy Nasdaq stock index had fallen 1.2 per cent, the S&P 500 had dropped one per cent, and the Dow [...]
Sterling spirals to near $1.20 as UK economy comes close to recession August 9, 2019 Sterling has tumbled to fresh two-year lows after official figures showed Britain’s economy contracted in the second quarter, raising fears of a recession and adding to no-deal Brexit worries. Read more: Sterling to tumble further as no-deal Brexit worries intensify The pound had fallen 0.6 per cent against the dollar by 1.45pm to buy $1.207, [...]
Businesses vent fury at handling of Brexit after economy shrinks August 9, 2019 UK business organisations have condemned the continuation of Brexit uncertainty after it helped push the economy into contraction in the second quarter. They called for “decisive action” to turn the situation around. Read more: UK economy shrinks for first time in six years GDP fell by 0.2 per cent in the first quarter, data from [...]