UK households positive about future finances for first time in eight months June 17, 2019 UK households have turned positive about their future finances for the first time since November last year as wages continue to grow. Financial health expectations for the next twelve months moved into the positive in June, according to the latest IHS Markit household finance index. Read more: UK households set to spend £63.4bn on international [...]
Huawei expects revenue to drop by billions amid US ban June 17, 2019 Huawei international smartphones sales dropped 40 per cent last month as the Chinese tech firm felt the immediate impact of the US ban. Chief executive said sales were expected to drop to $100bn (£79.5bn) this year and in 2020 and that production would be reduced by $30bn in anticipation of the decline. The revised revenue [...]
Shares fall as Kier suspends dividend and unveils plan to cut 1,200 jobs June 17, 2019 Struggling construction firm Kier has revealed plans to cut 1,200 jobs and strip back its non-core businesses. The outsourcer said it would sell or “substantially exit” non-core activities, including its housebuilding and facilities management units. Read more: Kier shares plunge on housebuilding unit sale reports Its property arm, one of the UK’s largest developers, and [...]
Jeremy Hunt slams Corbyn’s ‘pathetic’ response to oil tanker attack blamed on Iran June 15, 2019 The foreign secretary Jeremy Hunt has branded Jeremy Corbyn “pathetic” after the Labour leader said there was no credible evidence that Iran attacked two oil tankers in the Gulf of Oman. Corbyn accused the government of increasing the threat of war after the foreign office said it was “almost certain” the Iranian military were behind [...]
‘Ideological war’ over future of AI as businesses warn against robot tax June 15, 2019 Businesses and trade bodies have urged the government and industry to embrace the rise of robots and better prepare workers and future generations. The business, energy, and industrial strategy (Beis) committee is in the midst of an inquiry into the automation and the future of work in the UK. Read more: The robots are coming [...]
Second home ownership soars towards the value of £1 trillion June 15, 2019 The number of British people owning a second home has soared by more than 50 per cent since 2001 as the value of additional property wealth nears £1 trillion, according to a new report. Research from think tank the Resolution Foundation revealed that 5.5 million people – around one in ten of the UK population [...]
UBS economist must ‘pay the price’ over Chinese pigs comment, state media says June 15, 2019 Chinese state media has warned UBS economist Paul Donovan must “pay the price” over remarks he made referencing Chinese pigs. The Swiss banking giant apologised earlier this week after its global chief economist’s comments sparked outrage in China. Read more: UBS apologises after economist’s ‘Chinese pigs’ comment sparks public outrage Donovan made the comments in [...]
Hong Kong leader suspends extradition bill after mass protests June 15, 2019 Hong Kong leader Carrie Lam has indefinitely delayed a controversial extradition bill following mass protests. The proposed law, allowing extraditions to mainland China, were met with Hong Kong’s biggest street protests in decades. Read more: MPs urge China to respect Hong Kong freedoms after protests turn violent Earlier this week, police fired tear gas and [...]
You’re hired: Lord Sugar backs Boris Johnson to be next PM June 14, 2019 Lord Sugar has thrown his weight behind Boris Johnson to be the next Prime Minister, saying he can “stop Jeremy Corbyn from being PM”. Johnson is already guaranteed in a place in the run off between the final two candidates after he secured 114 votes in the first round. Read more: Boris Johnson says ‘long [...]
China industrial output growth eases to 17-year low as US trade tensions mount June 14, 2019 China’s industrial output growth plunged to a more than 17-year low in May as the world’s second biggest economy continued to be hit by trade tensions with the US. Industrial production grew by five per cent in May compared to a year earlier, below forecasts and the weakest growth since the beginning of 2002. Read [...]
