Gresham House launches a platform for pension funds that want to make an impact February 21, 2017 Mammoth pension funds are to be able to invest into smaller, socially responsible projects through a new platform announced today. The initiative has been created by AIM-quoted investment house Gresham House and has attracted cornerstone interest from Berkshire's local government pension fund, alongside a 20 per cent shareholding the fund has agreed to take in Gresham House itself. Larger pension funds [...]
A smooth Brexit could lead to tighter monetary policy according to the Bank of England’s Mark Carney February 21, 2017 A smooth Brexit process would lead to a faster rate of interest rate increases, according to the Bank of England’s governor, Mark Carney If the process of the UK leaving the EU moves “relatively smoothly to an increasingly clear end point” it would “be consistent with a higher path of interest rates,” Carney said, in [...]
The UK government’s deficit reaches lowest year-to-date since financial crisis but misses expectations February 21, 2017 Government borrowing recorded the biggest January surplus since 2000 and its lowest year-to-date reading since the financial crisis ahead of chancellor Philip Hammond’s first Budget on 8 March, despite a lower-than-expected monthly surplus. With tax receipts in January traditionally far higher than every other month as self-assessment returns come in, the January surplus of £9.4bn [...]
The Eurozone economy heats up to pre-debt-crisis levels as German manufacturing drives growth February 21, 2017 The Eurozone economy has showed signs of heating up, with German manufacturing expanding at the fastest pace since 2011 before a sovereign debt crisis swept through the region, according to a survey closely followed by monetary policymakers. Across the Eurozone the expansion of industry reached an almost six-year high, according to the composite purchasing managers' index [...]
The case for an infrastructure spending splurge rests on shaky foundations February 21, 2017 As the chancellor prepares his Budget and US President Donald Trump shapes his economic plan, commentators are urging both to engage in significant new spending on transport infrastructure. The conventional case was articulated well by Times columnist Oliver Kamm last week. Only the government can undertake the investment and planning necessary for complex projects such [...]
British consumers see no negatives from Brexit despite rising economy fears February 21, 2017 Brexit did not stop British consumer confidence from growing over the past year, despite the economy topping a list of concerns for future prospects, according to a new poll. British consumer confidence at the end of 2016 was marginally higher than a year earlier and far ahead of European average, according to pollsters Nielsen. More than [...]
Why everything you think you know about the gig economy might be wrong February 20, 2017 The rise of the so-called gig economy characterised by new technology platforms such as Uber and Deliveroo has sent the number of self-employed workers soaring in recent years… or so says conventional thinking. But, a new report suggests it is, in fact, higher earners in high-skilled jobs who are driving the growth of the self-employed to top [...]
Greece repays €2bn loan ahead of crunch bailout talks February 20, 2017 Greece has repaid a €2bn loan from its European creditors ahead of a crunch meeting over the terms of its bailout. The repayment is part of the €86bn bailout programme from the “troika” of creditors, the European Central Bank, the European Commission, and the International Monetary Fund (IMF). Bailout administrator European Stability Mechanism (ESM) announced [...]
Spain’s trade deficit fell by 22.5 per cent in 2016 February 20, 2017 Exports from Europe’s fifth largest economy rose to their highest level on record, while the trade deficit fell to its second lowest level since 1997, according to Spain’s economy ministry. It left the economy with a trade deficit of €18.8 billion euros (£16bn) for 2016, while the value of exports reached €254.5bn, an increase of [...]
Demand in UK industry reaches two-year high despite price rises says CBI February 20, 2017 Demand for UK-manufactured goods rose to a two-year high in the three months to February with output expectations rising to their highest since September 2013, according to a survey of industrial firms. More than a quarter of the industrial firms polled reported total orders above normal levels, according to the Confederation of British Industry (CBI). [...]