What’s the point of economists? Look to America’s tech giants to find out February 6, 2019 Despite the dire predictions from the economics profession about Brexit, the UK economy is doing well. Growth continues at a steady pace. An all-time record 32.4m people are in work. Unemployment has fallen to levels not seen since the mid-1970s. In contrast, the Eurozone is on the brink of recession – and Italy is already [...]
Eurozone construction sector endures ‘sluggish’ start to the year as slowdown set to continue February 6, 2019 The Eurozone construction sector endured a sluggish start to the year slowing to its softest expansion in six months in another blow for the bloc. Weaker demand for building work in January led the downturn as purchasing activity rose at its slowest pace since October and job creation eased to a near-two-year low, according to [...]
Charity Commission issues official warning to IEA over legal breaches in Brexit report February 5, 2019 The charities regulator has issued an official warning to the Institute of Economic Affairs (IEA) for breaking charity law in a report about Brexit. The Charity Commission today censured the Westminster think tank for a report into the post-Brexit economy in the UK, which was published in September but has since been taken down. Read [...]
Will Wirecard wave goodbye to the DAX? February 5, 2019 | City Talk Questions are being asked about whether Wirecard AG deserves its generous valuation – and it’s newly won place in the DAX – following allegations of fraud. Munich-based fintech company Wirecard unseated Commerzbank – a stalwart of the DAX since 1988 – to become a member of the DAX in September 2018. The firm won its [...]
Enquest hits expectations as production grows by half February 5, 2019 Oil producer Enquest is focusing on paying down its debt as production looks set to soar this year. Shares rose 2.95 per cent to 19.56p in the mid-afternoon as the company showed a 48 per cent rise in output to 55,400 barrels of oil equivalent per day in 2018. Read more: EnQuest agreed to buy [...]
What is the outlook for interest rates in 2019? February 5, 2019 | City Talk US Concern over the outlook for US interest rates was one of the dominant themes of 2018, especially as the year progressed. President Trump got involved in the debate, tweeting in December that it was “incredible” that the US Federal Reserve (Fed) was considering raising interest rates again. Despite the pressure from the president, the [...]
FCA fines former Newton fund manager Paul Stephany for IPO misconduct February 5, 2019 Former fund manager Paul Stephany has been fined by the UK’s financial watchdog for misconduct related to On the Beach’s initial public offering (IPO) in 2015. The Financial Conduct Authority (FCA) has fined Stephany, a former employee of Newton Investment Management, £32,200 after it was found that he had contacted rival fund managers to influence [...]
UK new car sales fall as electric and hybrid cars surge in popularity February 5, 2019 New car sales in the UK dropped fell in January as demand for diesel cars collapsed while hybrid and electric cars surged in popularity, industry figures released today show. The 1.6 per cent year-on-year drop follows a five month decline in sales, data from the Society of Motor Manufacturers and Traders (SMMT) reveals. Read more: DEBATE: [...]
Sterling falls with UK economy ‘at risk of stalling’ as services enter slowdown February 5, 2019 The UK service sector lost momentum last month as incoming new work fell for the first time since July 2016, leading to warnings that the economy is close to stalling. Business activity remained flat in January but fears over the UK’s economic outlook led to a reduction in new employment numbers for the first time [...]
Italy, France and Germany suffer in January as Eurozone services output declines to five-year lows February 5, 2019 Italy’s service sector saw a drop in business activity and jobs in January, while Germany and France also suffered as the Eurozone’s economic woes continued. Business activity in the Italian services sector fell as international demand declined for seventh consecutive month. The pace of new order growth eased from December, just above November’s 45-month low, [...]