Sage to sell payments arm to US Bancorp subsidiary November 18, 2019 UK software firm Sage Group is set to sell its payments arm Sage Pay for around £230m to Elavon, a payments firm and unit of US Bancorp. Read more: Sage kicks off sale of payments processing business Sage Pay is a major provider of payment services in both the UK and Ireland. Announcing the deal, [...]
Boris Johnson to woo businesses with extensive tax breaks November 18, 2019 Prime Minister Boris Johnson will today offer British companies a series of tax cuts and breaks as he seeks to mend his relationship with the country’s firms. Read more: Boris Johnson’s Conservative party opens up 17-point poll lead In a speech to the annual CBI conference in London Johnson will pledge to cut the taxes [...]
How the pound could react to a Tory General Election victory November 18, 2019 Buffeted by Brexit and a global economic slowdown, the pound has had a wild ride in 2019. Now, City economists believe sterling is at a crossroads, with the upcoming General Election poised to send sterling soaring – or diving. A Conservative majority could fire the pound above $1.40, analysts said, but a Labour victory may [...]
Number with wages set by Whitehall could treble after election November 15, 2019 The proportion of workers paid the minimum wage would treble under Labour’s plans and double under the Tories, a report has found, causing a dramatic increase in the number whose pay is set directly by Whitehall. The Conservatives have pledged to raise the so-called national living wage to around £10.50 by 2024 and extend it [...]
UK retail sales unexpectedly fall as economy slows November 14, 2019 The amount of goods sold in UK shops unexpectedly fell in October, official figures have shown, in the latest sign that the economy is slowing. The weak performance will be a concern to retailers as the sector heads towards Christmas, especially given that the period covered Halloween, a traditionally busy time for shops. Read more: [...]
Fed chair Jay Powell foresees ‘sustained expansion’ for economy November 13, 2019 US Federal Reserve chairman Jay Powell has said he foresees a “sustained expansion” of the country’s economy, in a testimony to Congress a day after President Trump ripped into the central bank. However, Powell said if a downturn should occur then the government would need to fight it with fiscal policy. Yet he said this [...]
Gap between Tory and Labour tax plans hits its biggest in a generation November 13, 2019 The Conservatives and Labour’s plans for taxes are the most different in a generation, a new report has said, with a “tax pledge gap” of £60bn set to become a key election battleground. Labour is expected to call for tax increases of at least £50bn a year in its manifesto, while the Conservatives’ are likely [...]
Eurozone industrial production beats predictions but Germany still weak November 13, 2019 Industrial production the Eurozone grew for the second straight month in September, official figures showed today, beating analysts’ expectations. Read more: Mario Draghi’s ECB reign ends with Eurozone ‘close to stagnation’ The slump in Germany’s factory sector continued, however, with output falling a chunky one per cent as Europe’s biggest economy slides towards recession. Industrial [...]
UK inflation falls to near three-year low as energy prices are capped November 13, 2019 UK inflation fell to its slowest rate in almost three years in October, official figures showed today, as growth was held back by the energy price cap. Read more: UK suffers biggest fall in jobs in four years The consumer price index (CPI) – a gauge of how much prices have risen over the year [...]
Donald Trump defends China trade war but says a deal ‘close’ November 12, 2019 US President Donald Trump has doubled down on his tariff war with China in a major speech, accusing the country of “ransacking” the American economy, but also saying phase one of a trade deal is “close”. Read more: China trade expo yields results as US deal hangs in balance Talking at the Economic Club of [...]
