Debate: Should investors panic about a US recession after the Treasury bond yield curve inverted? April 4, 2019 Should investors panic about a US recession after the Treasury bond yield curve inverted? Yes, says Michael Horan, head of trading at Pershing EMEA. The inversion has been on the cards since December last year. The yield curve represents real investors, putting real money to work, and at the moment, they are willing to accept [...]
Mark Carney warns of “alarmingly high” no-deal Brexit risk April 3, 2019 Bank of England governor Mark Carney has warned the risk of a no-deal Brexit has become “alarmingly high.” Carney also hit out at suggestions from Brexiters that the UK could leave the EU on World Trade Organisation terms and maintain zero tariffs as “absolute nonsense.” Speaking to Sky News, he said that despite parliament, the [...]
US services sector continues its trend of solid growth April 3, 2019 US services sector growth weakened in March but continued its three-year long run of expansion, data released today showed. Read more: Eurozone services sector grows faster than expected Business expectations dropped to the lowest level since December 2017, however, as firms highlighted concerns about global trade tensions, economic growth worries and intense competition. The US services business [...]
Turkish inflation stays below 20 per cent as election results remain uncertain April 3, 2019 Turkish annual inflation stayed just below 20 per cent in March, according to data posted by the country’s statistics institute today as wrangling over local elections continues. Read more: Turkish lira falls against dollar as US suspends fighter jet delivery The inflation rate increased very slightly from February but was well below the highs seen towards [...]
UK services sector shrinks for first time in over two years April 3, 2019 The UK’s crucial services sector contracted in March amid widespread reports of Brexit uncertainty constraining demand, bringing to an end over two-and-a-half years of growth. Aside from a brief dip seen after the European Union referendum, the latest reading of the services purchasing managers’ index (PMI), which gives an overall view of the sector, was [...]
DEBATE: Should the audit and consultancy arms of the Big Four firms be divided, as proposed by MPs? April 3, 2019 Should the audit and consultancy arms of the Big Four firms be divided, as proposed by MPs? YES, says Rachel Reeves MP, chair of the Business, Energy and Industrial Strategy Committee. We have two major problems in the audit market today: a lack of competition and quality. The Big Four’s dominance has led to a precarious [...]
If there is something fishy about online influencers, why do we take the bait? April 3, 2019 Social media influencer, Yovana Mendoza, provided an amusing diversion from Brexit last week. The 20-something vlogger built a very lucrative personal brand around veganism. She amassed over 3m followers on YouTube and Instagram by advocating a raw vegan diet and 25-day water fasts. All seemed to be going well until a competitor observed and filmed [...]
Eurozone services sector grows faster than expected during tough time for bloc April 3, 2019 Growth in the Eurozone’s services sector beat predictions in March, with Germany, Spain and Ireland leading the pack, it was revealed today. The services purchasing managers’ index (PMI) for the single currency bloc rose to 53.3, its highest level since November 2018, and up from a score of 52.8 in February. A number above 50 [...]
Food prices increased at their fastest rate since 2013 in March April 3, 2019 The weekly supermarket shop hit bank accounts a little harder last month as food prices rose at their sharpest rate in five years in March. Food inflation accelerated last month to 2.5 per cent, up from 1.6 per cent in February. This is the highest inflation rate November 2013. The data out today from the [...]
Global trade shrinks in final quarter of 2018 as trade wars drag on global economy April 2, 2019 Global trade shrank at the end of 2018 as trade tensions and increased economic uncertainty took their toll, the World Trade Organisation (WTO) revealed today. The WTO also said that these problems will stick around, predicting in its annual forecast that world merchandise trade is likely to grow by 2.6 per cent in 2019, much [...]