The UK will get a US free trade deal post-Brexit – but Donald Trump will drive a hard bargain March 13, 2017 Back in 1783, when Britain signed a trade deal with the fledgling United States as part of the Treaty of Paris which concluded the revolutionary war, the world-class British delegation was infinitely more experienced and better prepared than their novice American counterparts. Sadly, this is not the case today. Fast forward 234 years and Britain’s [...]
Consumer spending is up but caution appears to be growing March 13, 2017 Consumer spending for February was up 1.5 per cent on the same time last year, according to the monthly Visa UK Consumer Spending Index. This marks a jump back up from a five-month low of just 0.4 per cent year-on-year growth in January. Trends from previous months held fast, with yet another rise for e-commerce [...]
London IPO market set for £30bn boost, with Logicor, O2, Misys, TI Fluid Systems, BGL Group and Kuwait Energy weighing up flotations March 12, 2017 London is set to benefit from up to £30bn of flotations in the coming months, with Logicor, O2, and Misys among a number of high-profile companies weighing up initial public offerings (IPOs) in the capital. After a rocky end to 2016, when several deals were pulled due to market uncertainty, 2017 saw a subdued start. [...]
The man leading a major review of workers rights thinks National Insurance rise is progressive March 12, 2017 The man put in charge of a major review into workers rights and the rise of the gig economy has called the chancellor's election pledge-breaking rise in National Insurance for the self-employed "progressive" and "economically rational". "As tax rises go, this is broadly progressive," said Matthew Taylor, the head of the Royal Society of Arts [...]
Iceland defrosts the capital controls it put in place because of the 2008 financial crisis March 12, 2017 The Icelandic government announced today it will be completely lifting on Tuesday the capital controls it put in place against country's individuals, firms, and pension funds to keep it propped during the fallout of the financial crisis. The government and Central Bank of Iceland have been over the last year whittling down the controls, which were put [...]
Niesr: UK GDP grew by 0.6 per cent in the three months to the end of February March 10, 2017 The UK economy grew by 0.6 per cent in the three months to the end of February, according to the latest estimates from the National Institute of Economic and Social Research (Niesr). This follows GDP growth of 0.8 per cent in the three months ending in January. Niesr has projected GDP growth of two per cent [...]
UK trade deficit holds steady for January as both exports and imports rise March 10, 2017 The UK’s trade deficit remained broadly flat at £2bn in January as both export and import values rose, by 0.8 and 0.6 per cent respectively. The deficit narrowed by £4.7bn to £6.4bn between the three months to January, and three months to October, though total trade balance had been revised upwards by £3.5bn after the ONS' fourth [...]
The price of gold has fallen below $1,200 ahead of the Fed’s next decision March 10, 2017 Global commodities are taking a battering this week. After oil prices fell below the critical $50 a barrel point yesterday, gold has now dipped lower than $1,200 an ounce. The safe have asset has fallen 0.57 per cent, or $6.90, to $1,196.30 per ounce for the first time in more than a month. Miners of the yellow metal [...]
Brent crude and WTI oil prices edge up after yesterday’s massive losses March 10, 2017 Oil prices have recovered slightly after their worst slump in more than three months. Brent crude, the global benchmark, was trading at $52.37 a barrel, up 0.34 per cent from the previous close. West Texas Intermediate prices traded 0.43 per cent higher, but still below $50, at $49.49 a barrel. Yesterday, crude prices plummeted more than 2.5 per cent [...]
Inflation expectations hit highest levels since 2013, Bank of England survey finds March 10, 2017 Britons are anticipating big price rises over the coming year, new data from the Bank of England out today shows. Members of the public quizzed in February expect inflation to rise 2.9 per cent over the next year, up from a 2.8 per cent estimate in the Bank’s previous survey in November. The 2.9 per [...]