Sterling tumbles as Brexit deal hopes ‘snuffed out’ October 8, 2019 Sterling has fallen to a one-month low against the euro after German Chancellor Angela Merkel said a Brexit deal without Northern Ireland staying in the customs union is “overwhelmingly unlikely”. Read more: Brexit deal ‘overwhelmingly unlikely’, Angela Merkel tells PM The pound had shed 0.76 per cent of its value by 1.50pm to stand at [...]
UK productivity falls at fastest rate in five years October 8, 2019 UK productivity fell at the quickest pace in five years in the second quarter, official figures showed today, marking a worsening of Britain’s decade-long productivity crisis. Read more: Brexit prep has cut UK productivity, says Bank of England Output per hour worked dropped 0.5 per cent in the three months from April to June compared [...]
Mark Carney says Bank of England to stress test banks with ‘catastrophic’ climate scenario October 8, 2019 Bank of England governor Mark Carney has reiterated Threadneedle Street’s intention to stress test banks against a number of “climate pathways,” including a “catastrophic business as usual scenario”. Read more: Bank of England’s Mark Carney says UK now better prepared for no-deal Brexit Speaking at a summit about climate change and banking in Japan, Carney [...]
Hollywood Bowl strikes double figures profit growth October 8, 2019 Shares in UK bowling alley operator Hollywood Bowl have shot up this morning after it said it expected profit growth to be over 10 per cent in the year to 30 September. Read more: Hollywood Bowl boosts revenue in strong first half The firm said that due to the good performance, it is considering returning [...]
German factory output bounces back but sector still weak October 8, 2019 German factory output rose unexpectedly in August, suggesting that the expected recession in Europe’s biggest economy in the third quarter may not be as deep as some fear. Read more: Eurozone recession risk ‘very real’ as slowdown infects services sector Industrial output increased 0.3 per cent, up from an upwardly revised fall of 0.4 per [...]
Government almost matching Labour’s spending pledges, says IFS October 8, 2019 The government is set to break its own spending rules next year, the Institute for Fiscal Studies (IFS) think tank has warned, with its plans now closer in cost to Labour’s 2017 manifesto pledges than its own from that year. Read more: Sajid Javid confirms budget will take place later this year The IFS today [...]
Gloom thickens over Eurozone economy as German factory orders tumble October 7, 2019 German recession fears have been pushed up a notch after factory orders plunged by more than expected in August, continuing the economy’s dire 2019. Read more: Eurozone recession risk ‘very real’ with services close to stagnation New orders from German factories fell by 6.7 per cent in the year to August, Germany’s statistics body said [...]
UK house prices grow at slowest rate for six years October 7, 2019 UK house prices grew at their slowest annual rate in six years in September, a closely-watched gauge has revealed, as Brexit uncertainty continues to smother activity in the sector. Read more: UK house prices: Brexit holds back September growth House prices grew by just 1.1 per cent over the last year, undershooting economists’ expectations of [...]
Tesco Bank appoints ex-Treasury mandarin to board October 7, 2019 Tesco Bank has appointed Sir John Kingman, the ex-Treasury mandarin who supervised the UK’s bank bailouts during the financial crisis, to its board as a non-executive director. Kingman was second permanent secretary to the Treasury in 2008, when Britain’s banks were given hundreds of billions of pounds by the UK government to keep them afloat [...]
Jennifer Arcuri refuses to say whether Boris Johnson relationship was sexual October 7, 2019 US businesswoman Jennifer Arcuri today refused to answer questions on whether she and Prime Minister Boris Johnson had a sexual relationship while he was mayor of the capital. Read more: Jennifer Arcuri blames media ‘attack’ for scrutiny over Boris Johnson relationship Speaking to ITV News this morning, Arcuri said: “It’s really categorically no one’s business [...]
