No-deal Brexit could tip UK and EU into recession, IMF says April 9, 2019 A no-deal Brexit could see both Britain and the EU slide into a two-year recession in a worst-case scenario, the International Monetary Fund (IMF) has said. Read more: IMF director says majority of countries will see growth slow in 2019 The UK economy will grow by less than previously thought even with a deal, the [...]
Airbus claims US trade sanctions on its aircraft are excessive April 9, 2019 Airbus has hit back against a move by the United States to impose trade sanctions on its aircraft which pushed the manufacturers shares down this morning. The US Trade Representative's office has said it is considering slapping tariffs on $11bn (£8.4bn) worth of goods from the European Union, including Airbus planes. Read more: Airbus shares soar [...]
ECB set to remain dovish April 9, 2019 | City Talk The European Central Bank meets on Wednesday this week, not the usual Thursday. Don’t expect any fireworks from this outing for the Governing Council, however. A month ago we got a triple whammy of dovish moves with new stimulus, amended forward guidance and growth and inflation forecasts revised lower. Having already pushed back on rate [...]
String of banks appointed as Travelex-owner Finablr weighs London float April 9, 2019 Payments company Finablr said today it was examining a London initial public offering (IPO) and had engaged a raft of top banks to act as underwriters and advisers. The United Arab Emirates-based company, which processed $114.5bn (£87.6bn) of payments in 2018, published a registration documents today and said it was weighing a $200m IPO. Read [...]
The UK’s drug policy is falling behind the rest of the world April 9, 2019 Every year, thousands of people die as a result of drug misuse in the UK. And for over two decades, heroin has been the main culprit. Communities are blighted, families are ripped apart, and vulnerable people are failed by an outdated approach. The situation in Scotland is particularly dire, with a fifth of the UK’s [...]
Government should choose outsourcing contracts based on the quality, not cost April 9, 2019 If and when the Brexit debate ever ends, politicians will return to the challenge of improving domestic politics. And one of the main questions will be the role of private companies in delivering public services. Overall, the government spends almost £300bn per year – or around a third of its total budget – on partnerships [...]
Trump administration threatens tariffs on $11bn of EU goods including wine and aeroplanes April 9, 2019 The US is considering slapping tariffs on $11bn (£8.4bn) worth of goods from the European Union including French cheese, sparkling wine, and helicopters, it said today. Read more: Trump asks China to lift tariffs on US agricultural exports The US Trade Representative said the proposed move would be in retaliation for EU subsidies to Airbus, [...]
Nigeria and India the fastest growing markets for UK exports in 2018 April 9, 2019 Nigeria and India were the top two fastest growing export destinations for UK goods in 2018 as Britain developed its trade links to non-European nations, new analysis has shown. Read more: UK service exports fall as Brexit and global economic slowdown bite UK exports to Nigeria grew by 27 per cent last year to £1.6bn, [...]
Euro-denominated trading will switch to Netherlands in no-deal scenario, London Stock Exchange says April 8, 2019 The London Stock Exchange has said it may move part of its business to the Netherlands if the UK crashes out of the European Union without a deal this week. Its European platform Turquoise will shift euro-denominated share trading away from the UK, the exchange said. Read more: London Stock Exchange Group leads $20m Nivaura [...]
Investors go bananas for Saudi oil debt as offers seen at up to $60bn April 8, 2019 The markets cannot get enough of state oil company Saudi Aramco as the world’s most profitable company sells bonds for the first time. Investors have bid more than $50bn (£38bn) for the bond issue which was expected to fall at around $10bn, according to Reuters sources. Read more: Saudi Aramco leapfrogs Apple to claim title [...]