UK construction output beat expectations in December February 10, 2017 UK construction output beat expectations in December, rising 1.8 per cent on the month before, compared with forecasts of one per cent. Official figures published this morning showed output was up 0.6 per cent on the year before – and 0.2 per cent on a quarterly basis. The rise was largely driven by private commercial work, which [...]
UK trade deficit narrows in fourth quarter as non-EU countries buy more February 10, 2017 The trade deficit narrowed in the fourth quarter as exports to countries outside the European Union (EU) rose sharply. The deficit shrank to £8.6bn between October and December, a £5.6bn drop from the third quarter, according to the Office for National Statistics (ONS). Exports to the EU rose steadily, but they were outshone by a £43.8bn increase in [...]
An influential German central banker says UK will lose “gateway to Europe” status for the City’s financial services February 10, 2017 An influential German central banker has said Brexit will “end” the UK’s position as the dominant financial services centre in Europe, after “numerous” financial services firms explore moving operations to the EU. The UK will lose its position as a “gateway to Europe” for the world’s financial services industry, according to a speech by Dr [...]
Yawn: The FTSE 250 has hit another record high February 10, 2017 The FTSE 250 hit a record high this morning, after investors' interest was piqued by Donald Trump's promise of a "phenomenal" tax announcement. The index sprang to 18,670 points in the minutes after the market opened, pushed higher by chemicals giant Elementis, whose shares jumped 9.5 per cent to 301p after it unveiled plans to [...]
Investment company targeting Middle East e-commerce floats on Nex February 10, 2017 A new investment company targeting the Middle East e-commerce sector is listing on the Nex Growth Market today. Dealings of ordinary shares on the company, Indigo Holdings, will start at 8am. Read more: British exporters look to Middle East and Asia to avoid Brexit uncertainty The investment firm has raised more than £800,000 from the [...]
Bank of England governor Mark Carney commits to curbing jargon to win back trust in “dreaded experts” February 9, 2017 Mark Carney has spoken of the need for the Bank of England (BoE) to cut back on technical language to win back public trust, saying “not everyone wants to be steeped in fan charts, modelling and stress testing”. Speaking at a BoE inclusion event tonight, Carney said: “To communicate to both the City and the [...]
The UK sharing economy’s set to grow by billions this year despite scrutiny February 9, 2017 The popularity of on-demand services such as Uber, Deliveroo and Airbnb is set to boom, with the value of the UK's sharing economy predicted to grow my more than 60 per cent this year. Despite scrutiny from government, the desire for services at the tap of a smartphone app will continue according to the research from PwC, which has also [...]
Bank of England appoints Charlotte Hogg as deputy governor as hawkish Kristin Forbes prepares to step down February 9, 2017 Charlotte Hogg has been appointed as a deputy governor to the Bank of England as the rate-setting Monetary Policy Committee’s Kristin Forbes prepares to complete her three-year term in June. The Treasury announced the appointment of Hogg to one of the Bank’s top roles for a renewable five-year term, starting on 1 March. Hogg became [...]
Here’s how much less millennial men are earning February 9, 2017 Were you born after 1980? Are you a man? You're probably earning less than previous generations were at the same age. Millennial men have earned less than generation X (those born before 1980) every single year of their 20s, new figures reveal. And by the time they reach 30, the cumulative loss in earnings compared to the [...]
Germany exports reach record £1 trillion amid currency manipulation claims by Trump administration February 9, 2017 Germany’s trade surplus has reached a record high, as exports continue to rise to new heights from Europe’s largest economy. The figures come only two weeks after US President Donald Trump’s new trade adviser, Peter Navarro, accused the German government of manipulating its currency to “exploit” the US. Exports rose to €1.2 trillion (£1 trillion) [...]