Eurozone retail sales see surprise fall in May July 4, 2019 Retail sales in the Eurozone unexpectedly fell for the second month in a row in May, in a sign that consumer spending is weakening in the struggling area. Read more: Eurozone manufacturing falls to three-month low as downturn drags on The volume of retail trade fell by 0.3 per cent in May compared to April, [...]
Low-emission car registrations fall for first time in two years July 4, 2019 UK registrations of alternatively-fuelled cars fell in June for the first time since April 2017, with a major industry body blaming confusion over low-emission zones and incentives. Read more: Hybrid and diesel car sales fall in May amid government policy confusion Overall new car registrations in the UK fell for the fourth month in a [...]
City economists warn Lagarde poses ‘credibility risk’ as ECB chief July 4, 2019 City economists digested the news of Christine Lagarde’s nomination as European Central Bank (ECB) president yesterday with some warning of a “credibility risk” while others welcomed her expected dovish stance. Read more: IMF chief Lagarde among surprise picks for EU top jobs European Union member state leaders surprised pundits on Tuesday night by picking Lagarde, [...]
George Osborne vying for top role at IMF July 4, 2019 George Osborne is mulling a bid to become the next head of the International Monetary Fund (IMF), according to reports, after its current managing director Christine Lagarde was tapped for the top job at the European Central Bank (ECB). Read more: IMF chief Christine Lagarde among surprise picks for EU top job Currently editor of [...]
FTSE 100 hits 11-month high on interest rate cut hopes July 3, 2019 The UK’s FTSE 100 stock index has hit an 11-month high today, boosted by the growing chances of interest rate cuts, a falling pound, and hopes of a resolution to the US-China trade war. Read more: Dollar falls as Fed holds interest rates but strikes dovish tone Meanwhile the pound has fallen to its lowest [...]
UK service sector ‘close to stagnation’ as economy slows July 3, 2019 The UK service sector came close to registering zero growth in June as Brexit uncertainty dented demand, according to data provider IHS Markit and the Chartered Institute of Procurement & Supply (CIPS). Read more: UK construction sector suffers worst output in 10 years The poor performance indicates the economy has slipped into contraction for the [...]
The Works shares rise as value arts retailer boosts revenues July 3, 2019 Discount UK retailer The Works saw its shares rise 10 per cent this morning after its full-year results showed increased underlying profit in the year to April 2019. Read more: Arts and crafts store The Works plummets after profits take a hit Investors were not put off by the heavy costs The Works incurred related [...]
FCA chief says ‘evidence not there’ to take action on RBS GRG unit June 25, 2019 The head of the Financial Conduct Authority (FCA) Andrew Bailey has defended his organisation’s report into RBS’s disgraced turnaround unit, saying “the evidence is just not there” to support action against the managers involved. Read more: MPs brand watchdog’s RBS GRG report a ‘complete whitewash’ Yet he insisted that the rules on whether or not [...]
UK retail sales see biggest drop for 10 years in June June 25, 2019 UK retail sales fell at the fastest pace in over 10 years this month, according to a survey released today, due in part to the warm weather and football world cup last June. Read more: Pound falls as UK economy shrinks by 0.4 per cent in April Nonetheless, the closely-watched survey from the Confederation of [...]
FCA chief Andrew Bailey says Woodford debacle a failure of rules not regulation June 25, 2019 Andrew Bailey, the head of Britain’s Financial Conduct Authority (FCA), said the dramatic suspension of Neil Woodford’s flagship fund was due to a failure of rules rather than of regulation. Read more: Hargreaves Lansdpwm execs to defer bonuses amid Woodford fund troubles Speaking in front of the Treasury Committee, Bailey said that Woodford was “using [...]
