New car sales accelerated in August as the fleet sector stayed strong September 5, 2016 The UK's car buyers went haywire for hatchbacks and crazy for convertibles last month, figures published today have shown. The report, by the Society of Motor Manufacturers and Traders (SMMT), showed new car registrations rose 3.3 per cent year on year in August – up from a measly 0.1 per cent rise in July. Some [...]
Pound bounces as services sector storms back to growth in August September 5, 2016 The pound jumped against the dollar in early trading in London after new figures showed the UK's most dominant sector stormed back into growth in August. Markit's purchasing managers' index for the UK services sector hit 52.9 in August, against expectations of 50.0, and up from July's 89-month low of 47.4. Considering any figure below 50 suggests [...]
The chancellor’s fiscal reset is a golden opportunity to slash living costs through tax cuts and planning reform September 5, 2016 Philip Hammond recently said that he may use the Autumn Statement to “reset” fiscal policy. That is a welcome sentiment because it suggests the chancellor sees before him a golden opportunity to transform the tax system. With Parliament returning, we are likely to see the government start to formulate and publicise more detailed economic policy [...]
London job openings at lowest level since January after Brexit vote September 4, 2016 The London jobs market could be showing signs of a post-referendum slowdown, according to a tracker of nationwide job vacancies. While the number of vacancies was up by 7.7 per cent in August compared to last year, online recruitment firm Reed.co.uk found London was being dragged down by a crunch in the number of high-paying [...]
Eyes on the PMI as services and sterling in the spotlight September 4, 2016 Sterling could be set for a bumpy day of trading tomorrow as the closely-watched services purchasing managers’ index (PMI) is set to provide another clue to the health of the post-referendum economy. Analysts expect the industry, which accounts for the vast majority of the UK economy, to bounce back above the crucial no-change 50-mark on the PMI. [...]
Japan’s issued 18 demands for Brexit or businesses could leave for EU September 4, 2016 Japanese businesses have issued an astonishing list of demands it wants from the UK and Europe ahead of Brexit negotiations at the G20 Summit, where Prime Minister Theresa May is starting informal trade talks. The 18 requests covering trade ties between the countries were made in a 15 page report issued by the Japanese government on [...]
Back of the queue? Barack Obama warns of UK-US trade “unravelling” September 4, 2016 US President Barack Obama has praised the special relationship between the UK and the US, but warned that both countries needed to do everything they could to prevent those strong ties from "unravelling" as he indicated other major global trade agreements are a priority. Speaking at the G20 Summit, Obama said the priority was to complete [...]
Theresa May talks up “golden era” for UK-China relations ahead of G20 September 3, 2016 Prime Minister Theresa May has said this is a “golden era" for UK-China relations, amid doubts over the UK government’s commitment to Hinkley Point. Speaking at Heathrow ahead of her first international conference as PM at the G20 summit in China, May also said that Britain will be a “global leader” in free trade after the Brexit [...]
The Great Fire of London made the city an insurance hub – here’s what we need to do to maintain that status September 2, 2016 This week we’re marking the anniversary of one of London’s defining events: the Great Fire of London, which ravaged the city at the start of September 1666. It was started by nothing more than a fire from an overheated oven at a baker’s shop near London Bridge. The damage was immense. The Association of British [...]
Bye bye Brexit slump? Pound jumps on surprise rebound in manufacturing and improved confidence among British businesses September 1, 2016 Britain's post-referendum prospects received a shot in the arm yesterday as new figures revealed a rebound in manufacturing, causing the pound to rise sharply against the dollar. Growth in UK manufacturing smashed expectations in August, suggesting that the sector has weathered the Brexit storm. And new polling figures out on Friday will show that business confidence recovered [...]