UK manufacturing growth slows as Brexit extension reduces stockpiling May 1, 2019 Growth in the UK manufacturing sector slowed in April, according to closely-watched data released today, following a faster-than-expected expansion in March due to Brexit stockpiling. Read more: UK manufacturing hits 13-month high as Brexit stockpiling peaks The headline purchasing managers’ index (PMI) fell to 53.1 in April, down from March's 13-month high of 55.1, according [...]
Extinction Rebellion climate change protesters want to destroy the UK’s financial sector May 1, 2019 The founder of Extinction Rebellion has ambitions to upend the UK’s financial system after her organisation targeted the City in two weeks of London protests. Gail Bradbrook wants to provoke a “mass refusal” to pay off loans and mortgages in a bid to throw London’s financial district into disarray following action that saw climate change [...]
Sirius Minerals shares drop as it raises $425m for North Yorkshire mine May 1, 2019 Sirius Minerals today revealed it has exceeded its $400m (£306m) fundraising target, but its shares were priced at the lower end of expectations. The London-listed company, which is raising cash to build a fertiliser mine in North Yorkshire, raised $425m from a new share issue. Read more: JP Morgan backs Sirius Minerals $3.8bn financing package [...]
Confidence in UK among European business leaders has collapsed due to Brexit, says survey April 30, 2019 The confidence of European business chiefs in the UK economy has evaporated due to Brexit, causing them to slash their investment intentions, a new report by investment bank Credit Suisse has revealed. Read more: Investors withdrew savings from UK funds in lead up to Brexit deadline Over 65 per cent of European business leaders said [...]
European Central Bank hikes supervision fees by 21 per cent as Brexit takes financial toll April 30, 2019 The European Central Bank (ECB) today increased supervisory fees by 21 per cent as it seeks to cover higher than expected costs to prepare for Brexit. Read more: Euro falls as ECB chief Draghi bearish on Eurozone economy The hike amounts to an estimated €576m charge on banks this year, up from €502.2m in 2018, as a [...]
Warren Buffett backs Occidental with $10bn in takeover battle with Chevron April 30, 2019 US billionaire Warren Buffett signalled support for Occidental’s $38bn offer for rival Anadarko today by announcing he will invest $10bn in the oil company. Buffett’s investment company Berkshire Hathaway committed to the investment on the proviso that the deal with Anadarko would go ahead. Read more: Anadarko says it will talk to Occidental over $38bn [...]
Australian weather batters Glencore production guidance April 30, 2019 Mining giant Glencore today downgraded for its copper output estimates, as production at some mines are set to be hit by upgrade works. Copper production is expected at around 1.46m tonnes in the financial year, Glencore said, down from a previous 1.54m tonnes estimate. Read more: JP Morgan backs Sirius Minerals $3.8bn financing package for [...]
Euro rises as Eurozone economy shows stronger-than-expected growth in first quarter April 30, 2019 The Eurozone economy achieved faster-than-expected growth in the first quarter of the year, marking a pick-up from its lacklustre performance at the end of 2018, official statistics have revealed. Read more: Euro falls as ECB chief Draghi bearish on Eurozone economy Economic growth in the currency area was 0.4 per cent in the first quarter [...]
Italy escapes recession but still lags behind rest of Europe April 30, 2019 Italy has dragged itself out of recession with economic growth of 0.2 per cent in the first quarter, the country’s statistics organisation said today. Read more: Eurozone economy shows stronger-than-expected growth in first quarter The quarterly figures mean the Eurozone’s third-largest economy limped to an annual growth rate of 0.1 per cent. Italy’s economy shrunk [...]
Incentives are needed to fix our broken social care system April 30, 2019 If I could choose just one phrase to sum up what politicians and civil servants need to know – the single maxim that should be tattooed on the insides of their eyelids – it would be this: “People respond to incentives.” It’s such a simple idea. But it’s extraordinarily powerful. Whenever something in government – [...]