Theresa May sets down her vision for bigger government as she slams “divisive” Labour party October 5, 2016 Theresa May will wrap up the Conservatives’ conference today with a dramatic pledge to move her party further away from free-market liberalism and towards an approach that favours even greater government control. The new Prime Minister, who replaced David Cameron in July, will set out her vision for Britain, which she says will put “the power [...]
IMF U-turns on Brexit warning as UK poised to be fastest growing G7 economy this year October 4, 2016 The International Monetary Fund said today that it expects the UK to be the fastest growing G7 economy this year, backtracking on its post-Brexit recession warning. It comes despite an earlier prediction from the Washington-based fund that a Leave vote would plunge Britain into recession and crash its stock market. The IMF now predicts Britain's gross domestic product will [...]
Bank of England could unleash another £280bn of quantitative easing October 4, 2016 The Bank of England could take interest rates to zero and unlock another £280bn of quantitative easing if the economy slows in the wake of the Brexit vote. In fresh analysis by Michael Saunders, the newest member of the Bank's monetary policy committee (MPC), he outlines how the Bank would respond should the economy perform [...]
Businesses have reacted horribly to Amber Rudd’s visa crackdown October 4, 2016 Businesses have hit out at the government’s new plans to tighten visa rules for workers who come to the UK from outside the EU. Home secretary Amber Rudd told the Conservative Party Conference earlier today she is considering making it harder for UK businesses to recruit from overseas by introducing a new rigorous test to [...]
Is globalisation dying out? October 4, 2016 The annual meetings of the International Monetary Fund and the World Bank take place in Washington this week, against a backdrop of gloomy predictions for the future of global trade. According to its latest prediction forecasts, the World Trade Organisation expects total trade to grow by its slowest pace since the financial crisis this year, [...]
IMF steps up attacks on Donald Trump and issues fresh Brexit warning October 4, 2016 Political risks are the greatest threat to the world economy, the International Monetary Fund (IMF) said today, in a thinly veiled attack on US Presidential hopeful Donald Trump. In its half-yearly economic outlook, the Fund downgraded its outlook for the world's largest economies over the next two years and warned a growing backlash against trade, [...]
One calculation shows both the UK and the US are in negative interest rates October 4, 2016 Extraordinary monetary policy and the latest extension of its money-printing bond-buying programme could have taken the Bank of England's real interest rate to as low as minus 2.5 per cent. Fresh analysis by investment outfit Hermes has found that adjusting for the impact of quantitative easing on "true" central bank rates, the UK and the US [...]
Back in business: Housebuilding jumps as Brexit fears fade October 4, 2016 Construction activity in the UK has grown for the first time in five months as builders regain their mojo in the wake of the EU referendum. The closely-watched purchasing managers' index (PMI) for the sector came in at 52.3 for the month of September, comfortably above the 50 score which represents stagnation. It was also [...]
Gold prices hit lowest level since EU referendum October 4, 2016 Gold prices have dipped to their lowest level since the referendum in a big morning of movers-and-shakers on the global money markets. An ounce of the yellow stuff on the spot exchange markets will set you back $1,292 this morning, down 1.5 per cent from yesterday's close. That is the lowest price for gold since the UK [...]
Stress in the City: Let’s move beyond stigmas October 4, 2016 Nearly 80 per cent of City A.M. readers have experienced poor mental health. If you look around your train carriage this morning at your fellow commuters, that should become a sobering statistic. In truth, it’s not our readers that have been surveyed, but employees across the UK. The charity Business in the Community conducted a [...]