European stocks have worst day in two months after fresh Donald Trump tariffs December 2, 2019 European stock markets suffered their biggest fall in two months today, after US President Donald Trump slapped tariffs on Brazil and Argentina and fears were raised over a trade-war escalation with China. Britain’s FTSE 100 finished 0.8 per cent down, hitting a one-week low. Germany’s Dax index and France’s CAC 40 both tumbled two per [...]
FTSE 100 swings into red after Donald Trump announces tariffs on Brazil and Argentina December 2, 2019 US President Donald Trump has said he will restore tariffs on steel and aluminium imports from Brazil and Argentina in the latest salvo of his global trade war. The President tweeted: “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I [...]
US manufacturing sector shrinks for fourth straight month December 2, 2019 The US manufacturing sector shrank at a faster rate than analysts had predicted in November, a closely-watched survey has shown, marking its fourth straight month of contraction. The manufacturing purchasing managers’ index (PMI) from the Institute for Supply Management (ISM) fell to 48.1 in November from 48.3 the previous month. This was well below economists’ [...]
EU finance chief warns UK to stay closely aligned post-Brexit December 2, 2019 The European Union’s finance commissioner has warned the UK that the City could be cut off from continental markets after Brexit if its regulations do not stay closely aligned. Valdis Dombrovskis, who is set to become a vice-president of the European Commission, said access to the EU’s markets will require Britain not to “engage in [...]
UK manufacturing sector shrinks for seventh straight month as bosses slash jobs December 2, 2019 The UK manufacturing sector shrank for its seventh straight month in November, survey data has shown, causing bosses to cut jobs at the fastest pace in over seven years. Output and new orders also fell in the sector, which makes up around 10 per cent of the economy, as another Brexit delay and the looming [...]
CBI: UK economy set to slow despite Brexit deal December 2, 2019 The economy will slow next year even if Britain leaves the European Union with a Brexit deal, a new report has predicted, as business investment fails to significantly pick up. The CBI’s economic forecast is the latest report to suggest that Prime Minister Boris Johnson’s Brexit deal will do little to help the economy in [...]
London and Boris Johnson brace for Donald Trump’s arrival December 1, 2019 The Donald Trump whirlwind will rip into London tomorrow for the second time this year when the US President touches down to attend a Nato security summit. The capital is bracing itself for The Donald’s arrival, with Boris Johnson expected to limit his time with the President and NHS staff planning protests outside Buckingham Palace. [...]
Goldman Sachs to cool UK Marcus expansion to avoid red tape December 1, 2019 Goldman Sachs is planning to cool the UK expansion of its new retail bank Marcus as it seeks to avoid the stricter regulations big lenders face in Britain. So-called ringfencing rules drawn up after the financial crisis mean banks with more than £25bn in customer deposits have to separate retail banking activities from their much-riskier [...]
Sir Vince Cable calls Royal Mail share slump ‘vindicating’ December 1, 2019 Former Lib Dem business secretary Sir Vince Cable has said he has been “vindicated” by the collapse in Royal Mail’s share price after his handling of the firm’s privatisation six years ago drew criticism. The coalition government was attacked at the time of the float for undervaluing Royal Mail after its shares soared by more [...]
Mark Carney appointed UN climate envoy ahead of Bank of England exit December 1, 2019 Bank of England boss Mark Carney has been appointed United Nations special envoy for climate action and finance, it was announced today, as he looks towards life beyond the governor’s chair. UN secretary-general Antonio Guterres has tasked Carney with galvanising global finance into addressing the perils of climate change and helping limit warming to 1.5 [...]
