Why we should allow second-rate universities to go bankrupt February 20, 2019 The political spotlight remains focused on Brexit, but an important dogfight is developing in the area of higher education. The specific issue is whether universities in the UK should be allowed to go bankrupt. It is not merely a theoretical question. In the past year, a number of universities have announced deficits running well into [...]
WTO blames trade war tariffs for weakest global trade in nine years February 19, 2019 Global trade is about to hit its lowest level in nearly nine years, warned the World Trade Organization (WTO) today, as international tensions and political uncertainty weigh on countries . The WTO's latest forecast warned that trade would fall below its baseline index value of 100 to 96.3 in the first quarter of 2019, the lowest reading since [...]
UK productivity fell in fourth quarter of 2018 as economic growth faltered February 19, 2019 The UK suffered a “disappointing” fall in productivity at the end of last year as GDP slowed, rounding off a sluggish 2018. Productivity – measured as output per hours worked – fell 0.2 per cent in the fourth quarter compared with the same period in 2017, according to the Office for National Statistics. Read more: [...]
Wages grow at their fastest rate since 2008 as employment rate hits joint record high February 19, 2019 UK wages grew at their fastest pace in a decade in the final three months of last year. Wages grew 3.4 per cent for October to December last year, according to the Office for National Statistics, up from 3.3 per cent growth to November, as vacancies reached a new record high. The employment rate 75.8 [...]
Want a more future-focused government? Climate action is just the start February 19, 2019 The reaction was predictable. Last week’s Climate Strike by schoolchildren was met with an inane debate about whether or not the pupils were right to “play truant”. This dialogue of the deaf was a missed opportunity. Politicians should take seriously the protesters’ demand that they “recognise that young people have the biggest stake in our [...]
UK household sentiment falls to 11-month low on slowing economy and Brexit fears February 18, 2019 UK household sentiment has hit an 11-month low as job fears grow on mounting Brexit uncertainty. IHS Markit’s household finance index (HFI) – based on consumer’s financial wellbeing – has dropped to its lowest level since March 2018. Read more: Bank of England slashes UK growth forecast The survey also revealed that job security perceptions [...]
The ECB has been keeping zombie banks alive February 18, 2019 A decade after the outbreak of the global financial crisis, banks in the euro area have still not recovered. The Eurozone financial stock index is 65 per cent below the pre-crisis peak, whereas the US S&P financial index has come close to the pre-crisis level. The varying fates of financial institutions is due to the [...]
Private sector pay set for growth as skills shortage bites February 18, 2019 Private sector pay is set to increase 2.5 per cent as skills shortages put pressure on employers. A survey by the Chartered Institute of Personnel and Development and the Adecco Group of pay and recruitment intentions at 1,254 employers in the first quarter of 2019 showed basic pay expectations in the private sector have increased [...]
Euro falls as European Central Bank member says more cheap loans to banks being discussed February 15, 2019 The euro fell to a three-month low this afternoon after the European Central Bank’s Benoit Coeure said a new round of cheap loans to Eurozone banks was possible. The ECB board member said the bloc’s economic slowdown would be “stronger and broader” than expected and that the possibility of more multi-year loans was being discussed. [...]
US-China trade talks end, but we still have no official outcome February 15, 2019 High levels trade talks between the US and China ended today with no official statement from either side. Earlier this week it was reported that US President Donald Trump was considering pushing back a 1 March deadline for US tariffs on China to ramp up by 60 days. Trump and Chinese President Xi Jinping are [...]