Germany to tumble into recession, says Ifo think tank September 12, 2019 A respected German think tank has predicted that Germany will fall into a recession in the third quarter and has slashed its 2020 growth forecast for Europe’s biggest economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? The Ifo Institute today predicted the German economy will [...]
European stocks rise after Donald Trump delays China tariffs September 12, 2019 European stock markets have risen soon after the opening bell following US President Donald Trump’s decision to delay tariff increases on Chinese goods by two weeks. Read more: China exempts some US goods from further tariffs ahead of talks Trump tweeted: “At the request of the Vice Premier of China, Liu He, and due to [...]
John McDonnell poised to back widening of UK financial transactions tax September 11, 2019 Shadow chancellor John McDonnell is set to extend Labour’s plans for a new tax on UK financial transactions in a move that could bring in an extra £2.1bn to the government’s coffers. Under Labour’s existing plans, the 0.5 per cent duty on share trading would be extended to other asset classes. Labour say this would [...]
ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? September 11, 2019 Mario Draghi tomorrow chairs his penultimate interest rate-setting meeting as president of the European Central Bank (ECB). The question is, will he bring a bazooka to his final battle? Read more: US and European stocks bouyed by ECB rate cut expectations The consensus expectation is that Draghi and co will cut the ECB’s main interest [...]
Donald Trump demands ‘boneheads’ at Fed slash rates to zero September 11, 2019 US President Donald Trump has called US Federal Reserve policymakers “boneheads” and demanded that they drop interest rates to zero “or less”. Read more: Fed will ‘act as appropriate’ to keep US expanding, says chair Jay Powell Trump said close-to-zero interest rates would let the US refinance its debt, meaning replace its existing debt with [...]
UK litigation funder Augusta raises $115m from US investment manager September 11, 2019 The UK’s largest litigation funder by case volume Augusta said today it had raised $115m (£93m) from an unnamed US investment manager. Managing director Louis Young said: “This development is a strong endorsement of the litigation funding industry and in particular, our market-leading experienced team”. Litigation funders back individual legal cases or portfolios of cases [...]
China exempts some US goods from further tariffs ahead of talks September 11, 2019 China has exempted 16 US products from additional tariffs, its finance ministry said this morning, in a sign of good will ahead of high-level talks this month and next. Read more: Return of US-China trade talks pushes up Asian markets Products such as animal feed, fish meal, some anti-cancer drugs and lubricants will be exempt [...]
Hong Kong bourse proposes £32bn merger with London Stock Exchange September 11, 2019 Hong Kong Exchanges and Clearing (HKEX) has made a surprise proposal to buy the London Stock Exchange (LSE) in a £30bn tie-up, it said this morning. Read more: London Stock Exchange seals $27bn Refinitiv deal Yet it said the deal is subject to LSE’s mammoth $27bn (£22bn) merger with financial data provider Refinitiv falling through. [...]
Watch out fiscal conservatives – the mood has shifted and the spending taps are on September 11, 2019 The Autumn Spending Review announced by the chancellor Sajid Javid barely raised a ripple last week. Yet the increase planned in 2020/21 for what the Treasury calls “day-to-day departmental spending” is the highest for 15 years, no less than 4.1 per cent in real terms. This spending pays the running costs of public services, the [...]
Recruitment firm raises £45m in latest funding round September 11, 2019 Online graduate recruitment company Jobteaser has raised £45m to help roll out its careers advice to “hundreds of thousands” more students across the UK and Europe. The funding round, which was led by Highland Europe and backed by existing investors Alven, Idinvest Partners, Seventure Partners and Korelya Capital, brings the total amount raised since the [...]