Rising UK recession risk frightens businesses October 4, 2019 The spectre of recession is looming over the British economy with the country’s huge services sector having contracted in September, according to closely-watched survey data from yesterday. Read more: UK recession alarm bells ring as UK service sector contracts The sector – which makes up about 80 per cent of the UK economy – saw [...]
IFS warns government against fuel duty cut October 4, 2019 The Institute for Fiscal Studies (IFS) has warned the government against cutting fuel tax by 2p per litre in the upcoming budget, which it is reportedly considering, saying it would cost the government £1bn a year in lost revenue. Read more: Fuel duty cut on the cards as threat of general election looms The IFS, [...]
US non-manufacturing sectors undershoot expectations October 3, 2019 The US’s non-manufacturing sector severely undershot expectations last month, survey data showed today, continuing the trend of bad economic news from the world’s biggest economy. Read more: Global stock markets bleed red on US-EU trade war fears The Institute for Supply Management’s (ISM) non-manufacturing purchasing managers’ index (PMI) – a gauge of the health of [...]
European policymakers eye up fiscal policy in response to slowdown October 3, 2019 Two senior European policymakers have said fiscal policy – spending and taxing – should be a tool to boost the region’s struggling economy and deal with a potential shock. Read more: Eurozone recession risk ‘very risk’ as slowdown infects service sector European Central Bank (ECB) vice president Luis de Guindo said a “dedicated centralised fiscal [...]
Extinction Rebellion protesters spray 1,800 litres of fake blood on Treasury building October 3, 2019 Climate change protesters this morning sprayed 1,800 litres of fake blood from a fire engine onto the Treasury. Campaigners from Extinction Rebellion were stood on top of an old fire engine with a banner saying “stop funding climate change”. The group is calling for “a future where our cultures are resilient, regenerative, and built on [...]
UK recession alarm bells ring as services sector contracts October 3, 2019 The risk of a UK recession has shot up after the huge services sector contracted in September, causing the biggest cut in employment in over nine years, according to closely-watched survey data. Read more: Global stock markets bleed red on US-EU trade war fears The sector – which makes up about 80 per cent of [...]
Skills shortage to cost small UK businesses £145,000 next year October 3, 2019 Small and medium-sized British businesses face a shortage of skilled employees that will cost them on average £145,000 next year, according to new research. Read more: Brexit prep has cut productivity of UK businesses, says Bank of England The so-called skills gap has widened as a result of “a shrinking talent pool due to Brexit” [...]
Global stock markets bleed red on US-EU trade war fears October 2, 2019 Global stock markets have plunged across the board today amid fears of a US trade war against Europe and a worsening economic picture. Read more: US factories suffer worst month since 2009 The World Trade Organization (WTO) this afternoon ruled that the US has the right to slap punitive tariffs on $7.5bn (£6.1bn) worth of [...]
FTSE 100 slumps over 2.5 per cent as global economy darkens October 2, 2019 Britain’s FTSE 100 has tumbled 2.6 per cent today as weak economic data and political crisis fuel investor scepticism about the UK economy. Read more: UK construction activity suffers ‘devastating’ drop as Brexit kills demand US stock markets followed their British counterpart sharply downwards shortly after they opened, following more negative data for the world’s [...]
German think tanks once again slash growth forecast October 2, 2019 A group of top German think tanks today slashed their growth forecasts for the European powerhouse and warned that a disorderly Brexit could knock 0.4 per cent off the country’s GDP. Read more: Eurozone manufacturing sector suffers worst month in seven years The economy is now predicted to grow by just 0.5 per cent in [...]
