Chinese growth slows to near 30-year low as trade war bites October 18, 2019 The Chinese economy slowed to its weakest pace in almost 30 years in the third quarter, official figures have shown, as the ongoing trade war with the US weighs on the the country’s economy and global demand. Read more: Global markets underwhelmed by US-China trade truce GDP rose by six per cent year on year, [...]
Can cryptocurrencies wean the world off the US dollar? October 17, 2019 | City Talk There has been a huge shift in the global economy over the past 60 years. The US is still one of the biggest economic forces around the globe, but its influence on the world stage has waned as emerging economies have developed. The US accounted for as much of 40 per cent of the world’s gross [...]
Pound reverses gains as DUP rejects Boris Johnson’s Brexit deal October 17, 2019 The pound has dramatically reversed course from this morning’s five-month high to trade flat against the dollar as optimism about a new Brexit deal has faded. Read more: Boris Johnson hails ‘great’ new deal Sterling rocketed over one per cent against the dollar this morning to the $1.29 level not seen since May after Prime [...]
Rathbone Brothers’ shares fall as it warns on tighter profit margin October 17, 2019 Shares in Rathbone Brothers fell sharply this morning after reporting its profit margin will narrow over the next two-to-three years. Shares in the investment management company were down 8 percent to 2,190p in the morning’s trading, despite an 11 per cent annual increase in third quarter operating income. Read more: Rathbone Brothers boosts profits but [...]
UK retail sales growth holds steady as Brexit day approaches October 17, 2019 Growth in UK retail sales held steady in the third quarter of the year, official figures have shown, as shoppers remained cautious in the run-up to the October Brexit deadline. Read more: UK unemployment rate rises as Brexit fears hit labour market Britons bought 0.6 per cent more goods in the second quarter than in [...]
Eurozone inflation falls to three-year low and below half ECB target October 16, 2019 Inflation in the Eurozone fell to its slowest pace in three years in September, official figures showed today, raising fresh concerns over the direction of the single currency area’s economy. Read more: Falling fuel prices hold UK inflation at three-year low Prices grew at just 0.8 per cent in the year to September, below initial [...]
Soaring corporate debt levels threaten financial stability, IMF warns October 16, 2019 The global financial system is at risk from ballooning levels of corporate and emerging market debt caused by ultra-low interest rates, the International Monetary Fund (IMF) has warned. Read more: IMF warns global growth will fall to lowest level since financial crisis The IMF cautioned that in a downturn half as severe as 2008, $19 [...]
Administrator freezes another Woodford fund after bruising day October 16, 2019 The administrators of Neil Woodford’s money management empire have announced the suspension of another of his funds, the £253m Woodford Income Focus Fund, over fears customers will rush to withdraw their money. The move follows the resignation of Woodford as manager of the fund yesterday, a day when the formerly-lauded stockpicker shuttered his investment company [...]
Falling fuel prices hold UK inflation at three-year low October 16, 2019 UK price inflation stayed at a three-year low in September, the Office for National Statistics (ONS) said today, below the Bank of England’s desired rate of two per cent. Read more: UK unemployment rises as Brexit fears hit jobs market The headline annual rate of price growth was 1.7 per cent last month, the same [...]
Shares in Neil Woodford’s listed fund continue to fall after bruising day October 16, 2019 Shares in Neil Woodford’s investment trust have fallen again in early trading following a bruising day which saw the once-lauded fund manager’s empire collapse. Woodford was yesterday dismissed as the manager of his flagship Equity Income Fund (WEIF) and resigned from the Woodford Patient Capital Trust (WPCT) and Income Focus Fund. Read more: Woodford winds [...]