London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Eurozone inflation falls to three-year low and below half ECB target October 16, 2019 Inflation in the Eurozone fell to its slowest pace in three years in September, official figures showed today, raising fresh concerns over the direction of the single currency area’s economy. Read more: Falling fuel prices hold UK inflation at three-year low Prices grew at just 0.8 per cent in the year to September, below initial [...]
Soaring corporate debt levels threaten financial stability, IMF warns October 16, 2019 The global financial system is at risk from ballooning levels of corporate and emerging market debt caused by ultra-low interest rates, the International Monetary Fund (IMF) has warned. Read more: IMF warns global growth will fall to lowest level since financial crisis The IMF cautioned that in a downturn half as severe as 2008, $19 [...]
Administrator freezes another Woodford fund after bruising day October 16, 2019 The administrators of Neil Woodford’s money management empire have announced the suspension of another of his funds, the £253m Woodford Income Focus Fund, over fears customers will rush to withdraw their money. The move follows the resignation of Woodford as manager of the fund yesterday, a day when the formerly-lauded stockpicker shuttered his investment company [...]
Falling fuel prices hold UK inflation at three-year low October 16, 2019 UK price inflation stayed at a three-year low in September, the Office for National Statistics (ONS) said today, below the Bank of England’s desired rate of two per cent. Read more: UK unemployment rises as Brexit fears hit jobs market The headline annual rate of price growth was 1.7 per cent last month, the same [...]
Shares in Neil Woodford’s listed fund continue to fall after bruising day October 16, 2019 Shares in Neil Woodford’s investment trust have fallen again in early trading following a bruising day which saw the once-lauded fund manager’s empire collapse. Woodford was yesterday dismissed as the manager of his flagship Equity Income Fund (WEIF) and resigned from the Woodford Patient Capital Trust (WPCT) and Income Focus Fund. Read more: Woodford winds [...]
Asos profit falls by two-thirds as expansion costs push up debt October 16, 2019 Profit at Asos fell by 68 per cent in the year to August as the UK fashion giant took a hit from a major overhaul of its business model and costly international expansion. The online retailer blamed the drop on a costly operational expansion into Europe and the US which was fraught with problems including [...]
Sterling edges back as markets await outcome of Brexit talks October 16, 2019 Sterling has slipped against the dollar and euro as traders nervously wait to see whether Britain can secure a last-minute Brexit deal with the European Union. The pound was 0.12 per cent lower against the dollar by 8.10am UK time, buying $1.275. It had fallen 0.29 per cent against the euro to buy €1.154. Sterling [...]
German investor sentiment falls once again October 15, 2019 The mood among German investors darkened in October, a survey showed today, as concerns over the direction of Europe’s biggest economy continue to mount. Think tank ZEW’s economic sentiment indicator fell to minus 22.8 points in October from minus 22.5 in September. This was a smaller fall than economists had predicted, but highlights expectations of [...]
Bank of England’s Mark Carney defends move not to publish governor shortlist October 15, 2019 Bank of England governor Mark Carney has defended the application process to lead the central bank and suggested that too much transparency would discourage people from applying. Carney is due to step down in January and MPs and pressure groups have called on chancellor Sajid Javid to publish the short list of candidates to allow [...]
IMF warns 2019 global growth will fall to lowest since financial crisis October 15, 2019 Global economic growth will be just three per cent this year, the International Monetary Fund (IMF) has predicted, its lowest level since the financial crisis and a downgrade from the organisation’s April prediction. Read more: IMF chief says trade wars to cost global economy $700bn The “big four” developed economies of the US, China, the [...]
