Farewell to Theresa May, the most ineffectual Prime Minister in modern history May 28, 2019 When Theresa May departs from Number 10 for the final time, her portrait will be added to the collection which snakes down the main staircase. It is the ritualised ending for all Prime Ministers, good, bad or indifferent. It will be hard for her to walk down those stairs without thinking of her legacy, and [...]
As Brexit rages, the European project unravels before our eyes May 28, 2019 While the London foreign policy commentariat obsesses over the pathetic soap opera that is Brexit, it almost entirely misses the obvious and strategically vital point next door: the European project is in irretrievable decline, becoming increasingly peripheral to any serious global geopolitical discussion. The just-concluded European elections, which have underlined the rise of populism and [...]
Sluggish economic growth to continue as demand for lending falls May 28, 2019 The UK economy’s sluggish growth shows no signs of letting up, with all three major lending classes set to grow less than two per cent this year, new figures have revealed. Despite an uptick in real incomes, demand for consumer credit is forecast to grow just 1.6 per cent this year and two per cent [...]
EU stocks open up positive after election results allay investor fears May 27, 2019 The European stock market enjoyed a positive open this morning after EU election results failed to show a surge in populist right-wing parties. Euro Stoxx is up 0.30 per cent at the time of writing, while the FTSE has enjoyed a 0.65 per cent bounce. The French Cac and German Dax are up 0.17 per [...]
Goldman Sachs ramp up no deal Brexit chances after Theresa May resigns May 26, 2019 US investment bank Goldman Sachs has ramped up its probability of a no-deal Brexit as leading Conservatives put themselves forward to replace Theresa May as Prime Minister. Goldman Sachs analysts raised the chances of the UK leaving the EU without a deal from 10 per cent to 15 per cent, citing the emergence of hardline [...]
‘Escalation scenario’ increasingly likely in US-China trade war, warn Barclays analysts May 24, 2019 An “escalation scenario” is becoming “increasingly likely” in the US-China trade war, analysts at Barclays have warned, as China mulls its options for retaliation against US tariffs. Read more: China warns of trade repercussions after Huawei ban The Barclays note came after tough talk from China on the trade conflict, with President Xi Jinping this week [...]
We must learn from past mistakes to mitigate the impact of the next financial crisis May 24, 2019 It’s sometimes hard to believe that the global financial crisis happened more than a decade ago, and that back in 2008 the world of banking and finance was headline news on a daily basis. Read more: Jury discharged in fraud trial of senior Barclays executives Political and technological developments have changed the world immeasurably since [...]
US private sector output falls to three-year low as trade war bites May 23, 2019 The ongoing trade war with China helped push business activity growth in the US to a three-year low in May, according to widely-watched survey released today. Read more: Chip designer Arm to suspend business with Huawei Output in manufacturing and services was held back by lower demand and subdued growth of new orders, which firms [...]
German manufacturing output falls but services push economy to growth May 23, 2019 Germany’s manufacturing output fell for the fourth month in a row in May as new orders fell, according to the latest IHS Markit survey of the country’s private sector. Read more: Eurozone sees weak growth in May amid stagnant demand May saw the third straight monthly decrease in employment in the manufacturing sector, making the overall [...]
Eurozone economy limps to weak growth in May amid stagnant demand, says survey May 23, 2019 The Eurozone saw subdued business growth in May as demand stagnated, with manufacturing facing the toughest conditions of any sector, according to a new survey. Read more: EU slashes its forecast for German growth as it predicts Eurozone slowdown New export orders fell markedly once again, their eighth successive monthly fall, according to today's widely-watched [...]