Business groups say Brexit impasse hurting firms and growth September 16, 2019 Two British business groups have warned of the damaging effect of the Brexit impasse on UK firms and predicted lower investment and growth. The British Chambers of Commerce (BCC) today downgraded its growth forecast for Britain and predicted that business investment will plummet 1.5 per cent this year and fall 0.1 per cent in 2020. [...]
Global authorities to quiz Facebook on Libra September 15, 2019 Facebook will be grilled by global central banks over its proposed Libra digital currency project as the social media giant faces increasing European opposition to its plans. Libra representatives will head to Basel, Switzerland tomorrow to face representatives of 26 central banks including the Bank of England and the Federal Reserve, according to the Financial [...]
Hong Kong bourse to tell LSE investors: Ditch Refinitiv for us September 15, 2019 Hong Kong’s stock exchange will this week try to convince London Stock Exchange (LSE) shareholders that its proposed £32bn takeover is a better deal than LSE’s tie-up with data firm Refinitiv. Read more: Hong Kong hits back at London Stock Exchange over £32bn deal proposal Hong Kong Exchanges and Securities (HKEX) will hold meetings and [...]
Donald Trump lashes out at ECB over euro’s fall September 12, 2019 US President Donald Trump has reacted furiously to the euro’s fall against the dollar following the European Central Bank’s (ECB) decision to cut interest rates for the first time in over three years. Read more: Donald Trump demands ‘boneheads’ at Fed slash rates to zero The euro fell as much as 0.7 per cent following [...]
ECB turns stimulus taps back on with first rate cut in three years September 12, 2019 The European Central Bank (ECB) has unveiled a major stimulus package as it seeks to revive an ailing Eurozone economy, cutting interest rates for the first time in three years and restarting its giant bond-buying programme. Read more: German to tumble into recession, says Ifo think tank However, in his penultimate rate-setting meeting as ECB [...]
Eurozone industrial production drops again in July September 12, 2019 Industrial output in the Eurozone undershot expectations and fell again in July, official figures showed today, in the latest evidence of a significant slowdown in the single currency area’s economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy Industrial production dropped by 0.4 per cent month on month in July, its [...]
N Brown shares drop after it reveals £20m to £30m PPI provision September 12, 2019 Shares in British retailer N Brown have fallen 5.5 per cent this morning after it said it would have to set aside £20m to £30m more to cover claims about mis-sold payment protection insurance (PPI). Read more: Barclays and Lloyds Bank reveal PPI balance sheet hit The plus-size clothes retailer, which has cricketer Freddie Flintoff [...]
Germany to tumble into recession, says Ifo think tank September 12, 2019 A respected German think tank has predicted that Germany will fall into a recession in the third quarter and has slashed its 2020 growth forecast for Europe’s biggest economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? The Ifo Institute today predicted the German economy will [...]
European stocks rise after Donald Trump delays China tariffs September 12, 2019 European stock markets have risen soon after the opening bell following US President Donald Trump’s decision to delay tariff increases on Chinese goods by two weeks. Read more: China exempts some US goods from further tariffs ahead of talks Trump tweeted: “At the request of the Vice Premier of China, Liu He, and due to [...]
John McDonnell poised to back widening of UK financial transactions tax September 11, 2019 Shadow chancellor John McDonnell is set to extend Labour’s plans for a new tax on UK financial transactions in a move that could bring in an extra £2.1bn to the government’s coffers. Under Labour’s existing plans, the 0.5 per cent duty on share trading would be extended to other asset classes. Labour say this would [...]
