Jeremy Hunt: No-deal Brexit could tip UK and EU into recession April 5, 2019 UK foreign secretary Jeremy Hunt has said a no-deal Brexit could push both Britain and the European Union into recession. Read more: May asks EU for short Brexit delay while EU mulls 12-month extension “A no deal outcome is bad for the UK. It’s also very bad for the European Union”, Hunt told a press [...]
Employment in US surges after weak February but wage growth slows April 5, 2019 The US created 196,000 new jobs in March in a marked improvement from February's dramatic slowdown, it was revealed today. Read more: US economic growth unexpectedly slows in final quarter However, wage growth slowed to 3.2 per cent in March compared to a year earlier after growing 3.4 per cent in February, mixed US economic data [...]
UK productivity falls for second consecutive quarter April 5, 2019 Labour productivity in Britain fell in the final three months of 2018 compared to a year earlier, continuing the country’s decade-long productivity slump, it was revealed today. Read more: UK services sector shrinks for first time in over two year For 2018 as a whole, labour productivity grew by just 0.5 per cent, well below [...]
Chancellor Philip Hammond says ending austerity will not mean spending splurge April 5, 2019 Chancellor Philip Hammond has fired back over criticisms of the autumn Budget, saying that ending austerity should not mean increased spending in every government department. Read more: Hammond has the cash to end austerity, IFS says Hammond today said bringing an end to austerity was “also about delivering wage growth and leaving more in people’s [...]
Greece to receive €1bn from Eurozone as part of post-bailout deal April 5, 2019 Eurozone finance ministers will give a grant of nearly €1bn (£858m) to Greece as part of long-running financial support for the southern state, officials have said. Read more: Eurozone construction growth slows as bloc faces gloomy economy Greece will receive the money after it respected its current commitments to reform, including reducing the burden of [...]
Poll: Sterling set to rise three per cent if Brexit deal looks likely April 5, 2019 Sterling will jump three per cent if it looks likely the government will secure a Brexit deal, but will drop five per cent if talks fail, according to a Reuters poll. The pound plummeted following the 2016 referendum and has been volatile ever since as the market reacts to every development in the Brexit negotiations. [...]
Stop unfairly demonising firms that have large gender pay gaps April 5, 2019 Bad data cannot produce good policy. This gets us to the heart of the problem with the mandated gender pay gap reporting legislation, which is now into its second year. It’s all good and well finding a hook to speak about cultural issues. And no doubt, women are still operating in an unequal world, even [...]
Permanent job appointments fall as Brexit uncertainty intensifies April 5, 2019 Permanent job appointments in the UK have declined amid continuing Brexit uncertainty, a new report revealed today. Read more: Brexit uncertainty 'has cost the UK £66bn' Political uncertainty also contributed to a further steep decline in staff availability in March compared to the previous month, the latest KPMG and Recruitment and Employment Confederation (REC) UK [...]
Total expands battery business as oil majors look beyond global peak oil April 4, 2019 French giant Total has teamed up with a Chinese battery maker, as oil majors around the world work to future-proof their businesses. Total subsidiary Saft signed an agreement with Tianneng Energy Technology to expand their production of lithium-ion batteries. Read more: Shell switches 700,000 customers to renewables as it rebrands First Utility They plan to [...]
Brexit uncertainty has cost the UK economy £66bn, says S&P April 4, 2019 Brexit has cost the UK economy £66bn in lost growth, according to ratings agency S&P. Had the UK voted to remain in the EU in 2016s referendum the economy would have been three per cent larger by the end of 2018, the group’s report said. Read more: Brexit delay wins MPs' support by a margin [...]