Asian stocks slump amid fears of global economic slowdown March 25, 2019 Fears of a global economic slowdown took its toll on Asian markets overnight, as stocks slumped amid growing investor caution. Read more: Fed slows balance sheet reduction and holds line on rates Japan's benchmark Nikkei 225 index tumbled 3.1 per cent, as trading opened on Monday after a week of unrest across global markets. Hong [...]
KPMG downgrades UK economic growth forecast for 2019 due to Brexit March 25, 2019 Audit firm KPMG has downgraded its short term expectations for the UK economy due to the lack of clarity around Brexit and global headwinds. The firm forecasts that the UK economy will expand by 1.2 per cent in 2019, assuming that a Brexit deal is reached. The predictions are included in KPMG’s latest quarterly Economic [...]
Euro drops as Eurozone manufacturing activity hits six-year low March 22, 2019 The Eurozone’s economy lost momentum again in March as Germany and France's manufacturing sectors struggled to overcome global headwinds, according to a closely-followed indicator. Read more: Wages up across Europe despite gloomy economic climate Manufacturers across the economic area suffered their steepest downturn in seven years this month, the IHS Markit Eurozone composite purchasing managers’ index [...]
Theresa May’s perverse migration stance will damage the UK’s economy March 22, 2019 One of the unexpected impacts of the Brexit vote has been a marked change in public attitudes towards immigration – for the better. Today, 45 per cent of Britons are positive about the impacts of immigration on the UK, while only 31 per cent are negative – roughly the reverse of the figures from three [...]
Sterling slides to fresh one-week low against dollar as Brexit clouds gather March 21, 2019 The pound slid against the dollar this afternoon to hit a fresh one-week low after French President Emmanuel Macron said Britain “will be going to a no deal” if Parliament again rejects the Brexit agreement. Sterling was down 0.8 per cent today against the dollar as traders reacted badly to continued uncertainty in the Brexit saga. [...]
Bank of England holds interest rates amid Brexit deadlock despite sunnier economic data March 21, 2019 The Bank of England's monetary policy committee (MPC) has voted unanimously to hold interest rates at their current level of 0.75 per cent, after weighing up “mixed” economic data, it said today. Read more: Government borrowing falls to fresh 17-year low The central bank said it will not change its primary bank rate from where [...]
UK retail sales grow as consumers shrug off Brexit worries March 21, 2019 British retail sales showed strong growth last month compared to a year before, in a sign that consumers remain unaffected by the Brexit impasse. The quantity of goods UK shoppers bought increased by 0.4 per cent in February compared to January, with strong growth in non-store retailing and fuel, figures released today by the Office [...]
Government borrowing falls to fresh 17-year low as income tax revenue grows by £3bn March 21, 2019 Government borrowing has fallen to a fresh 17-year low so far this financial year as the UK's strong labour market saw income tax revenue increase by £3bn. Public sector borrowing from April 2018 to February was £23.1bn, the lowest year-to-date borrowing since 2001 and £18bn less than the previous year, according to the Office for National [...]
How field marshal May can get out of the Brexit trenches March 21, 2019 The name of field marshal Douglas Haig, commander-in-chief of the British Expeditionary Force from 1915-18, is not one that usually trips off the tongue in connection with Brexit. But with the whole Brexit process having become mired in Flanders-type mud, and increasingly settling into First World War style trench warfare, he would seem a most apposite [...]
Go back to the drawing board and help UK businesses become top of the class March 21, 2019 If you walk into any classroom in the country, you will find a small group of diligent pupils at the front, hands raised, offering an answer to today’s problem. There’s also likely a second lot at the back of the class monopolising the teacher’s time. This leaves the majority of students in the middle who [...]