Eurozone PMI: Manufacturing slump eases despite coronavirus fears February 21, 2020 The Eurozone economy picked up pace in February as manufacturing activity showed encouraging signs that its slump was easing. The sector’s resilience, despite fears the coronavirus could cause a further deterioration, helped push business activity to a six-month high. The manufacturing purchasing managers’ index (PMI) rose from 47.9 in January to 49.1 this month. Although [...]
UK PMI: Manufacturing grows at fastest rate in 10 months despite coronavirus February 21, 2020 UK manufacturing grew at its fastest rate in 10 months in February, according to a flash Purchasing Managers’ Index (PMI) reading, but services fell to a two-month low. According to IHS Markit / CIPS data, manufacturing hit 52.8, up from January’s final rate of 50.1, whilst services fell to 53.3, down from 53.9 last month. [...]
Unicredit boss Mustier ‘a main contender’ to become HSBC chief February 21, 2020 Unicredit Spa boss Jean-Pierre Mustier is a leading contender to become HSBC’s new chief executive officer. Mustier has been credited with turning around the biggest bank in Italy over the past four years and is now one of the main external candidates being considered by HSBC, according to Bloomberg. He has been in discussion with [...]
Chinese passenger car sales fall 92 per cent in February February 21, 2020 Chinese sales of passenger cars collapsed 92 per cent on an annual basis in the first 16 days of February as the coronavirus outbreak halted business output across the country. According to China Passenger Car Association (CPCA), only 4,909 vehicles were sold in the period, down from 59,930 in the same period a year earlier. [...]
Coronavirus on the G20 agenda as cases outside China multiply February 21, 2020 The coronavirus is set to be on the G20 agenda this weekend as finance leaders from around the world gather in Saudi Arabia. The risk the virus poses to the global economy is set to be discussed as the number of cases continues to creep up and those outside of China multiply. China confirmed the [...]
Hammerson sells seven retail parks to Orion for £400m February 21, 2020 Hammerson has sold seven retail parks to Orion’s European real estate fund for £400m, the largest sale of its kind in the UK for a decade. The parks are dotted around the country in places such as Didcot, Falkirk, Rugby and Telford. The deal, which is expected to raise proceeds of £395m, takes the total [...]
Hornby eyes £15m raise for ‘solid foundation’ February 21, 2020 Model train maker Hornby is seeking to raise £15m today as it seeks a “solid foundation” to build on with brands like Airfix and Scalextric. It will do that by issuing almost 42m new shares at 36p each, with chief executive Lyndon Davies saying: “The strengthening of our balance sheet provides a solid foundation for [...]
Britain stands to lose more than its Marbles if it folds now February 21, 2020 There’s a new pawn in the game of Brexit chess — 17 pawns, in fact, life-size and made of marble, plus 247 feet of sculpted frieze. The EU sparked a panic this week, when its draft negotiating mandate revealed a clause concerning the need to address “issues relating to the return or restitution of unlawfully [...]
Designers Guild at 50: A joyful journey through the doyenne of design’s bold, bright creations February 21, 2020 Tricia Guild OBE doesn’t do same-y; she doesn’t do greige and she doesn’t do minimal. But looking back at the influential interior designs, fabrics, wallpapers, paints, upholstered furniture, homewares and books her company Designers Guild has produced over the past 50 years, it’s clear that what she does do, is happy. Guild conceived Designers Guild [...]
DEBATE: Should the government intervene to stop cash disappearing? February 21, 2020 Should the government intervene to stop cash disappearing, as the Access To Cash panel has urged? YES, says Andrew Martin, chief executive of Retail Financial Consulting. It’s essential that cash remains a staple of British society in order to maintain social inclusion and economic stability. One need only look at Sweden, which is on the [...]