Japan GDP growth smashes expectations, pushing the Nikkei to a nine-month high November 14, 2016 Japan’s gross domestic product (GDP) grew at an annualised rate of 2.2 per cent in the third quarter of 2016, outperforming analyst expectations of around 0.8 per cent and helping to drive the country’s stock market, the Nikkei, to a nine-month high. The GDP growth rate grew by 0.5 per cent from July to September, beating the 0.2 [...]
Iran is open for business with a post-Brexit UK November 14, 2016 Iran is officially open for business after four years in the global wilderness. Following the imposition of financial sanctions in 2012 by the US for its burgeoning nuclear weapons programme, it was almost impossible for the west to do any business with Iran. Those sanctions were lifted earlier this year after France, Germany, UK, Russia and [...]
Shelve the EU’s anti-innovation precautionary principle to turbocharge the UK’s Fourth Industrial Revolution post-Brexit November 14, 2016 Thirty years ago, Big Bang launched a wave of technological change, transforming the City’s fortunes and securing its future. Facing down vested interests and naysayers, the Thatcher government understood that championing innovation would turbo-charge Britain’s economy – and seized the day. June’s EU referendum result was also a decisive turning point. Both Remainers and Leavers [...]
My key aim as lord mayor is to promote London’s unique business and cultural offering November 14, 2016 It has been a busy few days since starting as the 689th lord mayor. After my swearing in at the ancient Silent Ceremony on Friday came the world’s biggest and oldest street pageant: the Lord Mayor’s Show. Since 1215, every newly-elected lord mayor has travelled through the City of London to Westminster to swear loyalty to the [...]
Experts say wages could fall in real terms next year, as firms slow investment ahead of Brexit November 14, 2016 British workers are set to see their take home pay fall next year, while employment growth could also slow, according to new statistics. The latest analysis by the Chartered Institute for Personnel and Development also found that few employers back a “hard Brexit”, taking the UK out of the Single Market. Wages are expected fall [...]
Consumers splash the cash in October, as spending growth hits six-month high November 14, 2016 Brits have been on a spending spree during October, with a surge in money spent heading to hotels, restaurants and bars, according to figures out today. Visa's UK Consumer Spending Index showed that year-on-year growth for consumer spending had risen to 2.5 per cent for October, the sharpest rise in six months and up from 2.3 per [...]
Theresa May would be “delusional” to think Donald Trump election can help post-Brexit trade deal with US, says top German politician November 12, 2016 Theresa May’s government would be “delusional” to think Donald Trump’s presidency will be good for the UK as it seeks a post-Brexit trade deal with the US, one of Germany’s most senior politicians has warned. The Prime Minister congratulated Trump on winning the election this week, saying: “[The UK and US] are, and will remain, strong [...]
City A.M. Awards 2016: Our business heroes make the most of the madness November 11, 2016 Businesses hate uncertainty, so we’re told. The lobby groups that represent UK plc constantly remind us of the benefits of a calm economic and political environment, with benign conditions nurturing growth and prosperity. It’s a nice thought, and an understandable sentiment. But the reality is that life is never straightforward, and some of the business [...]
Trumped up: US stockmarkets are boosted by the prospect of a Trump administration November 10, 2016 US stock markets today hit an all-time high on the hope that Trumponomics will give businesses a much-needed boost. The Dow Jones hit 18,873.66 during trading, the highest level ever recorded. In particular, banks and healthcare stocks were buoyed on expectations that President-elect Donald Trump will remove much of the red tape that shackles their profitability. [...]
Editor’s notes: Does Trump’s victory provide opportunities for the UK? Maybe November 10, 2016 One benefit of Trump’s shock victory is that it makes the Brexit vote look like a council by-election in comparison. The world is now used to the idea that over the next two years the UK will slip the surly bonds of Brussels, and although the full details of that plan aren’t fully understood it’s the [...]