Labour will split up Treasury and move half north, vows John McDonnell July 7, 2019 John McDonnell would break up the Treasury and move a large chunk of it to the north of England if Labour came to power, the shadow chancellor confirmed today. Read more: John McDonnell dismisses claims of civil war at top of Labour He said on the BBC’s Andrew Marr show that locating decision-makers and administrators [...]
US stock markets open down on interest rate worries July 5, 2019 US stock markets opened in the red after stronger-than-expected jobs figures cast doubt on expectations of an interest rate rise this month. Read more: Fed rate cuts in question as US job gains defy expectations Non-farm payroll data showed the US economy added 224,000 jobs in June. Economists had expected 160,000 new jobs. Before the [...]
Fed rate cuts in question as US job gains defy expectations July 5, 2019 The US economy defied expectations and added 224,000 jobs in June, according to official figures, after adding just 75,000 in May. Read more: Global stock markets rise after positive noises from US economy The rise in the non-farm payroll was significantly higher than the 160,000 figure economists had predicted. But the unemployment rate ticked up [...]
UK productivity drops for third quarter in a row as crisis continues July 5, 2019 UK productivity fell for the third successive quarter in the first three months of the year, according to official figures released today, as Britain’s productivity crisis rumbled on. Read more: Urgent action needed to tackle stagnating productivity, economists warn Labour productivity – output per hour worked – fell by 0.2 per cent year on year [...]
German malaise continues as factory orders tumble July 5, 2019 Germany’s economic woes continued this morning as official statistics showed new orders in manufacturing plunged by 2.2 per cent in May compared to the previous month. Read more: German think tank says receding manufacturing sector damaging growth The figure was much worse than the 0.1 per cent fall economists were expecting, and raises fresh worries [...]
Confidence among UK business leaders falls after months of gains July 5, 2019 UK bosses were markedly more pessimistic about the economy in May than a month earlier, a new survey has shown, ending a trend of rising confidence levels since the start of the year. Read more: UK service sector ‘close to stagnation’ The confidence tracker from the Institute of Directors (IoD), a body for business leaders, [...]
Runners and riders: Who’s in line to take the top job at the IMF? July 4, 2019 George Osborne has become the surprise front-runner to take Christine Lagarde’s old job as head of the International Monetary Fund (IMF) after reports emerged that he was eyeing the role. Read more: George Osborne vying for top role at IMF The post at the international lender of last resort has become vacant after Lagarde was [...]
Amateur hour? The City reacts to Christine Lagarde’s new job at the ECB July 4, 2019 After three long days of horse trading in Brussels, member state leaders on Tuesday plumped for Christine Lagarde to take the helm at the hugely powerful European Central Bank (ECB). Read more: City economists warn Lagarde poses ‘credibility risk’ as ECB chief The decision took many pundits by surprise. Of the names touted to take [...]
Eurozone retail sales see surprise fall in May July 4, 2019 Retail sales in the Eurozone unexpectedly fell for the second month in a row in May, in a sign that consumer spending is weakening in the struggling area. Read more: Eurozone manufacturing falls to three-month low as downturn drags on The volume of retail trade fell by 0.3 per cent in May compared to April, [...]
Low-emission car registrations fall for first time in two years July 4, 2019 UK registrations of alternatively-fuelled cars fell in June for the first time since April 2017, with a major industry body blaming confusion over low-emission zones and incentives. Read more: Hybrid and diesel car sales fall in May amid government policy confusion Overall new car registrations in the UK fell for the fourth month in a [...]