US pushing for EU trade negotiations to move faster August 25, 2018 The US is pushing the EU to move faster on trade negotiations following the meeting between US President Donald Trump and EU Commission President Jean-Claude Juncker last month. Emily Haber, Germany’s ambassador to the United States, told reporters a working group formed after the Trump-Juncker meeting had convened for the first time this week, and [...]
Federal Reserve chair Powell defends interest rate increases following Trump’s criticism August 24, 2018 Federal Reserve chair Jerome Powell defended the policy of increasing interest rates to protect the economy today, following President Donald Trump’s attacks on rate increases. Powell said he believes the policy of gradual interest rate increases “remains appropriate” for the US economy. “The economy is strong. Inflation is near our two per cent objective, and [...]
Don’t let the migration target millstone drag back the British economy August 24, 2018 Missed targets are often cause for concern and embarrassment for the ministers involved. In the case of immigration, however, it should be celebrated. Net immigration from the EU has fallen to its lowest level in more than five years, at 87,000 in the year to March, the Office for National Statistics said yesterday. Yet a [...]
Service sector profitability at lowest level in four years August 22, 2018 UK service sector profitability was at the lowest level in four years at the beginning of 2018 in a drop that was driven by the struggling high street. The area saw the sharpest decline in a year between January and March this year due to poor general retailer performance, the Office for National Statistics (ONS) said. Profit [...]
British manufacturing strength bolstered by weak sterling and global economy August 21, 2018 Manufacturing activity slowed slightly over the summer but output remained well above normal levels as the strong global economy supported activity, according to a closely followed survey. The measure of manufacturers’ order books from the Confederation of British Industry (CBI) fell by four points, with a balance of seven per cent of the 379 firms [...]
The UK’s 2017-18 budget deficit hits an 11-year low August 21, 2018 The UK recorded its largest July surplus for 18 years last month, standing at £2bn, as ONS figures revealed robust deficit reduction in Britain’s finances. July’s surplus was double that from a year ago, with economic growth and high employment credited with fuelling the increase, handing Chancellor Philip Hammond cash he can put towards his [...]
Greece’s bailout may have finished, but the economic pain still has a long way to run August 20, 2018 It is a landmark moment: Greece has finally received its last payment from the European Stability Mechanism, with an unprecedented €204bn (£183bn) in bailout loans delivered since 2012 as Europe grappled with a sovereign debt crisis. European Council president Donald Tusk was fulsome in his praise today. “You did it!” he said. “Congratulations to Greece [...]
Britons’ income from work surged in August as low unemployment made its mark August 20, 2018 Britons’ work income rose at its fastest pace on record in August, as historically low levels of unemployment helped household finances cope with inflation pressures. Data from IHS Markit’s published today showed the tenth consecutive month of employment income gains, in spite of an increase in the feeling of job insecurity. The figures will be [...]
Medium-sized businesses lead UK revenue growth overseas August 20, 2018 Mid-sized businesses are driving the UK's overseas revenue growth and have increased international turnover by 43 per cent over five years, new data has revealed. The increase, from £105bn to £151bn, exceeds that of FTSE 350 companies that have seen a four per cent decline in overseas turnover from £418bn to £402bn over the same period. London's mid-sized firms, [...]
Paddy Power completes £200m share buyback August 20, 2018 Paddy Power today completed the first £200m tranche of its share buyback programme. Goldman Sachs International bought up 2.4m shares on the bookmaker’s behalf, cancelling them all, as it embarks on the second tranche to repurchase £300m of shares, which Goodbody Stockbrokers is carrying out. The company is trying to reduce its share capital, announcing [...]