Time for South Africa to heed Mandela’s call and embrace the free market May 9, 2019 When Nelson Mandela was released from prison in 1990, the then President of South Africa, F. W. De Klerk, estimated that at least half of the upper echelons of the African National Congress party were either Communist or Soviet-bloc trained. Consequently, when Apartheid was ended, economic expectations for the country were poor. Just as the [...]
London sees sharpest fall in permanent jobs in almost three years in April, survey shows May 9, 2019 The number of people starting permanent jobs in London fell at its sharpest rate for almost three years in April, new analysis has revealed, in a sign that the capital’s jobs boom may be slowing. Read more: UK employment hits record high as wages grow again Starting salary inflation for permanent positions cooled to a [...]
The City powers the UK economy – it must not fall into Labour’s hands May 8, 2019 Despite the best efforts of a few valiant voices, the City (and its interests) received a shameful lack of attention during the Brexit debate and has been largely left to fend for itself ever since. Read more: What the next Bank of England governor’s CV looks like However, the race to succeed Mark Carney at [...]
Production falls at under-fire Brazilian miner Vale after a burst dam killed hundreds May 8, 2019 Production at under-fire Vale fell 28 per cent quarter-on-quarter, the company said today after one of its dams burst in January, killing hundreds. The Brazilian miner said production of iron ore dropped 11 per cent year-on-year, but more than a quarter since the last part of 2019, to 72.9m tonnes. Read more: Vale stops operations [...]
Trump claims China stalled on trade deal in hopes of dealing with Democratic president May 8, 2019 US President Donald Trump has claimed that China was seeking to U-turn on the trade deal struck between the two countries in the hope that it could renegotiate with a Democratic president following the 2020 election. Read more: Global markets in tailspin after Trump threatens huge China tariff rise He also said that China's vice-premier [...]
Global stocks continue downwards trend as poor Chinese data adds to trade fears May 8, 2019 Global stock markets have continued to slide today as investors digested the impending increase of US tariffs on goods from China and weaker-than-expected Chinese exports. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The UK benchmark FTSE 100 had fallen 0.4 per cent to 7,234.96 shortly after midday UK time [...]
Chinese exports unexpectedly fall as pressure builds to reach trade deal with US May 8, 2019 China’s gigantic trade surplus unexpectedly narrowed in April, as the country’s exports fell 2.7 per cent year-on-year in a sign that pressure from the US was hurting the Chinese economy. Read more: Global markets in tailspin after Trump threatens huge China tariff rise Imports fared better, however, rising four per cent in April after a [...]
Hackers steal $41m in bitcoins from crypto exchange Binance May 8, 2019 Hackers have stolen bitcoins worth roughly $41m (£31m) from cryptocurrency exchange site Binance, the company said today. Read more: Bitcoin price gains continue as it jumps to six-month high Binance said hackers had withdrawn 7,000 bitcoins in a single transaction after using techniques including phishing and viruses as part of a coordinated large-scale security breach. [...]
European car and parts output slumps to six-year low as continent’s woes continue May 8, 2019 The European automobiles and parts sector remained in a strong downturn in April, according to data company IHS Markit. Read more: EU slashes its forecast for German growth as it predicts Eurozone slowdown Output, new orders and employment all fell sharply last month, IHS Markit said, in more bad news for Europe’s struggling manufacturing sector. [...]
Labour’s renationalisation plan isn’t just illiterate, it’s immoral May 8, 2019 Want to buy something, but can’t quite afford it? Just use a simple trick from John McDonnell. Here’s how it works. You say: “We’ll pay a fraction of the actual price.” They say: “Sorry, you can’t do that.” You say: “Yes, we can. We’re the government.” That, in essence, is Labour’s plan to renationalise the [...]