Whisky makers warn of damage in store in no deal scenario December 19, 2018 The makers of Scotch whisky have issued a warning to MPs that a no deal Brexit scenario would strike a damaging blow to the £4.5bn industry, which is the UK's biggest food and drink export. The Scotch industry, which supports 40,000 jobs across the UK, is particularly sensitive to the fall out from a no deal Brexit because 90 per [...]
UK inflation falls to 20-month low led by cheaper petrol prices in Christmas boost for households December 19, 2018 UK inflation fell to a 20-month low in November led by cheaper petrol prices in a boost for consumers in the run up to Christmas. Consumer prices rose by 2.3 per cent in November, down from 2.4 per cent the previous month and the slowest rate since March 2017, according the Office for National Statistics. [...]
Food waste will be next year’s moral crisis, just as single-use plastic was this year December 18, 2018 In these turbulent times, there was one villain who stood out in 2018. Plastered all over our TV screens, phones, and newspapers, this particular offender was everywhere. It is destructive, toxic, and impossible to get rid of. I am of course talking about single-use plastic. That said, the response to this growing threat has been [...]
UK economy set for slowest growth since 2009 and business investment to decline, BCC warns December 18, 2018 UK economic growth could slow to its lowest level since 2009 over the next two years as business investment and the pound are hit by Brexit uncertainty, according to the British Chambers of Commerce. The group expected business investment to contract by 0.6 per cent in 2018 before growing 0.1 per cent next year. The outlook [...]
Trump attacks Federal Reserve again in row over interest rates hike December 17, 2018 President Donald Trump has continued his spat with America’s central bank, the Federal Reserve, ahead of its interest rates announcement this week. The Fed is expected to raise interest rates for the fourth time this year on Wednesday, a decision Trump today called “incredible” on Twitter. “It is incredible that with a very strong dollar [...]
UK export growth contracts for first time since 2015 as European economies face turmoil December 17, 2018 UK export growth has dropped to its lowest level since 2015 as political uncertainty and falling demand take their toll on European economies. The growth of UK exports fell by 0.7 points to 94.9 in the fourth quarter 2018, according to figures from BDO’s latest European Export Index. The UK is not the only European [...]
Federal Reserve expected to raise US interest rates this week as all eyes on predictions for 2019 December 16, 2018 The US Federal Reserve is this week widely expected to raise interest rates for the fourth time this year, with an anticipated range of between 2.25 and 2.50 per cent. But doubts have begun to emerge about Wednesday’s announcement among analysts, after comments from Federal Reserve chairman Jerome Powell that the level of interest rates [...]
Euro falls as eurozone business growth hits four-year low after France protests and Brexit uncertainty December 14, 2018 Eurozone business growth plummeted to a four-year low in December, according to a closely-followed measure of economic activity, hitting the euro as markets reacted today. The “yellow vest” protests in France and ongoing weak car demand exacerbated a widespread economic slowdown, IHS Markit’s purchasing managers’ index (PMI) showed this morning. The index’s eurozone composite PMI showed [...]
Euro drops as ECB lowers growth forecast and confirms end to €2.6tn stimulus despite growth concerns December 13, 2018 The European Central Bank has confirmed plans to bring its €2.6tn eurozone stimulus programme to an end later this month despite concerns over growth. The bank’s bond purchasing programme, which began in 2015, will wind down at the end of the year as planned, it said today. But the ECB said it would continue to [...]
DEBATE: Should the government’s Making Tax Digital initiative be delayed? December 13, 2018 Should the government’s Making Tax Digital initiative be delayed? Suren Thiru, head of economics and business finance at the British Chambers of Commerce, says YES. The Making Tax Digital initiative represents a significant overhaul to the UK’s tax system, which could not be happening at a worse time for both business and government. HMRC already [...]