Fix Brexit, unlock investment – and maybe we can all work a little less May 7, 2019 Did you enjoy your day off yesterday? Nice, wasn’t it, coming so soon after the extended Easter break? Plus there’s another bank holiday in just three weeks from now. Happy days. Square Mile workaholics aside, most of us would prefer to have a little more leisure and a little less time in the office – and [...]
Global markets in tailspin after Trump threatens huge China tariff rise May 7, 2019 US President Donald Trump’s latest threat to ramp up tariffs on Chinese goods rattled global markets yesterday at the start of a crunch week of negotiations between the White House and Beijing. Trump tweeted over the weekend that tariffs on $200bn (£153bn) worth of goods from China would be cranked up to 25 per cent [...]
‘Zombie firms’ dragging down UK economy, warns KPMG May 6, 2019 Increasing numbers of underperforming “zombie firms” are acting as a drag on the UK economy and raising the risk of contagion during an economic crisis, professional services firm KPMG has warned today. Read more: UK economy 'treading water' as services sector struggles Up to 14 per cent of listed UK companies showed zombie symptoms of [...]
US job growth surges with more than 260,000 added as unemployment rate falls May 3, 2019 The US economy saw another strong month of growth for April with 263,000 jobs added as it continued to bounce back from February's dramatic slowdown. The Labor Department revealed on Friday that there were more than 70,000 additional jobs created last month than analysts had expected, dispelling fears from earlier in the year of a [...]
Eurozone inflation beats expectations in April May 3, 2019 Eurozone inflation beat expectations last month, which will offer mild relief for the European Central Bank (ECB). Inflation rose from 1.4 per cent in March to 1.7 per cent in April, beating forecasts for 1.6 per cent, according to Eurostat. Read more: Euro rises as Eurozone economy shows stronger-than-expected growth However, despite the solid April [...]
Penny pincher? Treasury saves 1p and 2p coins after threat to loose change May 3, 2019 The Treasury has decided the UK will retain copper coins for “years to come” after their future had been in question. Read more: DEBATE: Is biometric technology the future for digital payments? In the Spring Statement in 2018 chancellor Philip Hammond had called for a consultation on the mix of coins and banknotes in circulation. However, [...]
UK economy ‘treading water’ as services sector struggles back to marginal growth May 3, 2019 Britain’s services sector improved just enough to return to growth last month after shrinking in March, but the economy remained “more or less stalled” according to analysts. Read more: US services sector continues its trend of solid growth The services purchasing managers’ index (PMI) stood at 50.4 in April, compared to a more than two-year [...]
Bank of England upgrades UK growth forecast as household spending boosts economy May 2, 2019 The Bank of England once again voted to keep interest rates on hold today, as it painted a picture of an economy propped up by household spending as Brexit uncertainty continues. Read more: City A.M.'s shadow MPC votes to hold interest rates despite recent growth Threadneedle Street also upgraded Britain's 2019 economic growth forecast to 1.5 [...]
‘Fierce’ manufacturing downturn will act as major drag on Eurozone economy May 2, 2019 The Eurozone suffered its third straight month of contraction in its manufacturing sector in April, data revealed today. Germany continued to lead the downturn as the bloc’s manufacturing industry barely recovered from a six-year low in March, according to a closely-followed measure of activity. Read more: Construction industry bounces back in April amid housebuilding rush [...]
House building props up otherwise struggling construction industry as sector returns to growth May 2, 2019 Britain’s construction industry grew again in April after two months of contraction, driven by the fastest rise in house building so far in 2019. Read more: Eurozone construction sector bounces back in February after weak January The construction purchasing managers’ index (PMI) stood at 50.5 in April, compared to 49.7 in March, bouncing back from [...]