Why it’s too risky for Mark Carney to move interest rates for Brexit July 31, 2019 The Bank of England risks upsetting the economy if it changes interest rates before there is more clarity about Brexit, some of the City’s top economists have warned. Ahead of the Bank’s key meeting tomorrow, City A.M.’s shadow monetary policy committee (MPC) has said worries over slowing economic growth are outweighed by growing concerns that [...]
Stock markets edge up after US and China call trade talks ‘constructive’ July 31, 2019 Both Washington and Beijing have described a round of trade talks as “constructive”, pushing global stock markets tentatively higher. Read more: Stock markets slide as Donald Trump lashes out at China before key meeting The White House said China had confirmed a commitment to buy agricultural products following the talks, which took place in Shanghai [...]
Fed interest rate cut: Will Donald Trump get what he wants? July 31, 2019 The US Federal Reserve is set to cut interest rates for the first time in 10 years this evening, with the raging trade war with China and signs of slowing momentum darkening policymakers’ moods. Yet US economic growth is stronger than its peers and unemployment is at record lows, meaning the Fed will likely plump [...]
Computacenter shares surge on bullish trading update July 31, 2019 Computacenter shares jumped 11 per cent today after said it expected its 2019 financial year results would be “materially ahead of current market expectations”. The computer services company said its adjusted profit before tax was marginally ahead of the first half of the previous year, which it said was a challenging comparison. Read more: Computacenter [...]
Irish central bank: No-deal Brexit would see growth plummet July 31, 2019 The Central Bank of Ireland has warned that a no-deal Brexit could shatter the country’s economic growth and cost its economy 34,000 jobs. Read more: Boris Johnson visits Northern Ireland for talks to resolve power-sharing agreement In its quarterly bulletin the Bank said growth in a no-deal scenario would be just 0.7 per cent in [...]
Eurozone growth and inflation slow with ECB poised to act July 31, 2019 Both price inflation and economic growth in the Eurozone were shown to have slowed in figures released today, boosting the chances the European Central Bank (ECB) will deliver fresh stimulus to kickstart the region’s struggling economy. Read more: ECB prepares stimulus to kickstart stalling Eurozone economy Prices in the Eurozone grew at an annual rate [...]
UK manufacturers gloomy but consumers more upbeat July 31, 2019 Optimism among UK manufacturers has fallen rapidly but British consumers have become more positive, two surveys showed today, in the latest sign of a big divide in the economy. Read more: UK mortgage approvals rise but consumer lending slows Business optimism among small and medium-sized (SME) UK manufacturers fell at its fastest pace in three [...]
Stock markets slide as Donald Trump lashes out at China before key meeting July 30, 2019 US President Donald Trump has fired a broadside at China ahead of the two sides’ trade negotiations, criticising its economy and saying the US has “all the cards”. Read more: ‘Faulty thought process’: Trump lashes out at Fed – again The attack has sent global stock markets sliding as the tensions between the world’s two [...]
Petra Diamonds share price sparkles as fears over refinancing plan recede July 30, 2019 Petra Diamonds enjoyed a double-digit surge in its share price today, as the troubled mining group eased investor jitters over its cash strategy. Fears of a new equity financing plan sent the firm’s stock value to new lows last week, falling below 10p on London’s Stock Exchange. Read more: Petra Diamonds aims to be cash [...]
Sterling tumbles further as PM pledges Brexit ‘no matter what’ July 30, 2019 Sterling hit its lowest level since March 2017 today as new Prime Minister Boris Johnson pledged to take Britain out of the European Union on 31 October “no matter what”. Read more: ‘Doomsday narrative’: Sterling hits 28-month low on no-deal Brexit fears The pound plunged below $1.22 to hit $1.215 this morning, a drop of [...]