US factories suffer worst month since 2009 – and Trump blames the Fed October 1, 2019 The US manufacturing sector contracted at its fastest rate in a decade in September, according to a closely-watched survey, as trade wars and a global slowdown took their toll on factories. Read more: US manufacturing sector suffers worst month in seven years in April The September purchasing managers’ index (PMI) from the Institute for Supply [...]
Eurozone inflation hits three-year low in September October 1, 2019 Inflation in the Eurozone dropped to a three-year low in September due to cheaper energy, official figures showed today, as the European Central Bank (ECB) continues to struggle to hit its price-rise target. Read more: Eurozone manufacturing sector suffers worst month in seven years Yet with energy excluded, inflation edged slightly higher, although it was [...]
Eurozone manufacturing sector suffers worst month in seven years October 1, 2019 The Eurozone’s manufacturing sector suffered its worst month in seven years in September, according to a closely-followed industry survey, as the malaise in the area’s economy shows no sign of relenting. Read more: Sterling sinks after ‘simply shocking’ manufacturing data Factory output decreased markedly in September, with IHS Markit’s Eurozone manufacturing purchasing managers’ index (PMI) [...]
Job losses mount as no-deal Brexit fears hit UK manufacturing output October 1, 2019 The UK manufacturing sector could be sliding into recession as output remained in the red and job losses piled up in September, according to a closely-followed industry measure. Factory activity hit 48.3 on IHS Markit’s UK Manufacturing Purchasing Managers’ Index (PMI) last month, data revealed today. Read more: ‘Grim’ reading: Eurozone manufacturing sector hits seven-year [...]
City minister John Glen warns against turning away from EU rules post-Brexit September 30, 2019 City minister John Glen has warned that the UK must think carefully about its regulation options post-Brexit, arguing that EU rules had been the “hallmark of our credibility”. The economic secretary to the Treasury struck a cautious tone while discussing regulation for financial services sector, saying that while it was important that the UK “maximised” [...]
Saudi Aramco to pay out $75bn dividend as it courts investors ahead of IPO September 30, 2019 Saudi Aramco has said it plans to pay a base dividend of $75bn (£61bn) in 2020 as it gears up for its highly-anticipated public float. Read more: JP Morgan set to pip rivals for Saudi Aramco mega-float The Saudi Arabian state oil giant has been courting potential investors for the initial public offering (IPO), from [...]
Cuadrilla: More fracking this year in Lancashire unlikely after earthquake September 30, 2019 Fracking is unlikely to restart at Cuadrilla’s controversial site in Lancashire this year, the company admitted today over a month since an earthquake ripped through the site, bringing an end to drilling. Instead the firm said it would ensure Preston New Road will not be brought to a standstill as it tests how much gas [...]
Business groups urge caution over chancellor’s minimum wage rise plan September 30, 2019 British business groups have urged caution over chancellor Sajid Javid’s pledge to markedly increase the minimum wage while welcoming his confirmation that he will boost spending on infrastructure. Read more: Sajid Javid to increase national living wage to £10.50 In his speech to the Conservative conference in Manchester, Javid announced an increase of the minimum [...]
Gulf Marine Services promises to build for the future after turbulent year September 30, 2019 Under-pressure oil service company Gulf Marine Services said it was building for the future as it tried to sail a turbulent market. The company has ripped out its entire board in the past year, replacing every director after shareholder pressure, it said. It comes as revenues fell two per cent to $55m (£45m) over the [...]
Government rubbishes Hammond’s hedge fund Brexit conspiracy theory September 30, 2019 The government has hit back at aBrexit conspiracy theory that Boris Johnson is colluding with currency traders by forcing a no-deal Brexit, claiming Labour is causing greater yet market uncertainty. Shadow chancellor John McDonnell demanded answers from the Conservatives, after former chancellor Philip Hammond wrote an article for The Times which claimed that speculators had [...]