Experts say wages could fall in real terms next year, as firms slow investment ahead of Brexit November 14, 2016 British workers are set to see their take home pay fall next year, while employment growth could also slow, according to new statistics. The latest analysis by the Chartered Institute for Personnel and Development also found that few employers back a “hard Brexit”, taking the UK out of the Single Market. Wages are expected fall [...]
Consumers splash the cash in October, as spending growth hits six-month high November 14, 2016 Brits have been on a spending spree during October, with a surge in money spent heading to hotels, restaurants and bars, according to figures out today. Visa's UK Consumer Spending Index showed that year-on-year growth for consumer spending had risen to 2.5 per cent for October, the sharpest rise in six months and up from 2.3 per [...]
Theresa May would be “delusional” to think Donald Trump election can help post-Brexit trade deal with US, says top German politician November 12, 2016 Theresa May’s government would be “delusional” to think Donald Trump’s presidency will be good for the UK as it seeks a post-Brexit trade deal with the US, one of Germany’s most senior politicians has warned. The Prime Minister congratulated Trump on winning the election this week, saying: “[The UK and US] are, and will remain, strong [...]
FTSE 100 finishes the week lower as the pound slides below $1.26 November 11, 2016 Having jumped above $1.26 this morning for the first time since the so-called flash crash back in October, the pound slid back in afternoon trading. Sterling was just 0.2 per cent up against the dollar at $1.2577 by late afternoon trading in London. It was doing rather better against the euro, rising 0.7 per cent to [...]
Mexican peso drops to new record low November 11, 2016 The Mexican peso has dropped to a new record low, as the currency continues to experience volatility in the wake of Donald Trump's shock win in the US Presidential election on Wednesday. Mexico's currency dove to an all-time low when the result was announced on Wednesday morning. The peso has been seen as a bellwether [...]
City A.M. Awards 2016: Our business heroes make the most of the madness November 11, 2016 Businesses hate uncertainty, so we’re told. The lobby groups that represent UK plc constantly remind us of the benefits of a calm economic and political environment, with benign conditions nurturing growth and prosperity. It’s a nice thought, and an understandable sentiment. But the reality is that life is never straightforward, and some of the business [...]
Trumped up: US stockmarkets are boosted by the prospect of a Trump administration November 10, 2016 US stock markets today hit an all-time high on the hope that Trumponomics will give businesses a much-needed boost. The Dow Jones hit 18,873.66 during trading, the highest level ever recorded. In particular, banks and healthcare stocks were buoyed on expectations that President-elect Donald Trump will remove much of the red tape that shackles their profitability. [...]
Editor’s notes: Does Trump’s victory provide opportunities for the UK? Maybe November 10, 2016 One benefit of Trump’s shock victory is that it makes the Brexit vote look like a council by-election in comparison. The world is now used to the idea that over the next two years the UK will slip the surly bonds of Brussels, and although the full details of that plan aren’t fully understood it’s the [...]
Trump card: The Dow Jones has hit an all time high after Donald Trump’s win November 10, 2016 If there's one thing markets like, it's certainty. It may have been suggested a Donald Trump victory could lead to recession, then eventual doom for all of humanity – but now the markets have an idea of what they're in for, they're actually pretty cheerful. In fact, the Dow Jones hit an all-time high after [...]
Donald Trump’s ambiguous trade policy is a massive opportunity for Britain to catalyse the creation of a new Prosperity Zone November 10, 2016 Much ink has been expended on what a Donald Trump presidency will mean for trade. He has promised at various times in his campaign to slap 45 per cent tariffs on China and Mexico, to pull the US out of Nafta and the WTO, and has railed against the TransPacific Partnership. Naturally many people have assumed [...]