Britain’s economy grows faster than predicted in February April 10, 2019 The UK economy grew by 0.3 per cent in the three months to February, a better-than-expected result as the country counts down to Brexit and faces a weak global economy. Read more: No-deal Brexit could tip UK and EU into recession, IMF says In February Britain’s economy grew by 0.2 per cent, figures released today [...]
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 [...]
Bank for International Settlements warns central banks over risk posed by cryptocurrency exposure March 13, 2019 The Bank for International Settlements (BIS) has warned banks that cryptocurrencies could pose a risk to financial stability. The BIS Basel Committee, which sets regulatory standards for central banks, said the growth of crypto asset trading platforms and new financial products could increase the risks faced by lenders. Read more: Most UK consumers unable to [...]
The left should listen up: Tax reform is a progressive cause March 13, 2019 In 2012, the columnist Mary Dejevsky wrote a piece for the Independent arguing that the centre-left should advocate a flat tax. It was in response to the publication of the Single Income Tax, the final report of the 2020 Tax Commission, convened by the TaxPayers’ Alliance (TPA) and the Institute of Directors, and chaired by former [...]
US market braces itself for US-China trade talks February 12, 2019 | City Talk This week marks a resumption of trade talks between China and the US, so expect to see movement on the US equity markets as the headlines hit. Preliminary talks began on Monday and saw the US team fly to Beijing to try and close the gap – and tension – between the two nations when [...]
Quit nostalgic navel-gazing and get excited for the future February 11, 2019 The thing about the 1970s – if you lived through them – is that they were for the most part dull and dour years, devoid of political and economic energy. And as for the fashion, don’t even go there. Yet there seems to be no shortage of fresh-faced tweets proclaiming those years to be something [...]
ECB Headwinds, IMF downgrade for Europe – What Can We Expect from 2019? January 25, 2019 | City Talk This week bankers and leaders around the globe have come together for the World Economic Forum in Davos. A key topic has been what we can expect from 2019 and beyond, in the face of a global slowdown, climate change, the US shutdown, trade wars and Brexit. On top of that, the ECB revealed that [...]
Editor’s Notes: Davos – a festival of irrelevance and hypocrisy January 25, 2019 Davos brings the same delights every year. From the press release about the number of private jet movements to Oxfam’s annual criticism of the global super-rich, there are predictable elements to this week-long event. Another thing you can always be assured of is that some staggering hypocrisy will be on display. I came across a [...]
Despite apocalyptic Brexit warnings, the good news keeps on coming January 22, 2019 As the twists and turns of this long drawn-out Brexit drama continue, possibly the most surprising aspect of all is just how resilient the good news about UK business continues to be. I know this is tempting fate, I know many experts keep saying that the economic cycle suggests we should have had a recession [...]
Danske Bank faces shareholder action over money laundering scandal January 22, 2019 Danske Bank is facing shareholder action from investors seeking compensation over a €200bn (£175.6bn) money laundering scandal. IMF Litigation Funding Services, Njord Law and Quinn Emanuel allege that Denmark’s largest bank failed to disclose the scale of the crisis to investors, causing them to lose vast amounts of money. Read more: Danish minister says Danske Bank may [...]