Large UK firms lagging behind on technology adoption, warn CBI and Oracle June 25, 2019 Large UK companies are adding to the country’s productivity crisis by failing to adopt new technologies which could boost their output, the Confederation of British Industry (CBI) and US computer firm Oracle have said. Read more: UK employers warn of mass job losses in digital revolution If just one in 100 business adopted a new [...]
Italian bonds rally amid hopes EU will halt deficit crackdown June 24, 2019 The cost of Italian government borrowing today neared one-year lows reached last week after weekend reports that the European Union will halt plans to discipline the country over its high levels of public debt. Read more: Italy could face €3bn fine over high levels of public debt Italy’s 10-year bond yield – which moves inversely [...]
Bitcoin retreats from 18-month high as cryptocurrency catches Facebook libra fever June 24, 2019 Bitcoin pulled back from an 18-month high today after breaking the $11,000 barrier over the weekend, with many attributing the rise to the launch of Facebook libra. Read more: Bitcoin rallies to $11,000: Is it different this time? The world’s biggest cryptocurrency reached $11,248 (£8,822) on Sunday night, according to the Bitstamp exchange. Bitcoin then [...]
Trump says Federal Reserve ‘doesn’t know what it is doing’ June 24, 2019 US President Donald Trump has once again attacked his country’s central bank, saying on Twitter that the Federal Reserve “doesn’t know what it is doing”. Read more: Trump says he could demote Federal Reserve chair Jay Powell Trump’s tweets come a week after the Fed opted to hold interest rates between 2.25 and 2.50 per [...]
Turkish lira rallies as President Erdogan’s AK Party concedes Istanbul defeat June 24, 2019 The Turkish lira and other assets have climbed in value after the country’s opposition beat President Recep Tayyip Erdogan’s ruling AK Party (AKP) in the re-run Istanbul mayoral election on Sunday. Read more: Turkish lira continues its falls as country’s reserves dwindle The Turkish lira had climbed 0.5 per cent against the dollar shortly before [...]
German business confidence hits lowest level since 2014 June 24, 2019 German company managers were at their most pessimistic about the economy since the end of 2014 in June, according to the country’s Ifo Institute think tank. Read more: German think tank says receding manufacturing sector damaging growth Meanwhile managers’ views of business prospects in the next half year fell for the third straight month, Ifo’s [...]
UK employers warn of mass job losses in digital revolution June 24, 2019 New technology and automation mean as many as 40 per cent of jobs are expected to change significantly or become redundant in the next five years, the Open University (OU) has said. Read more: Former City minister calls for action on skills shortages Nearly 90 per cent of organisations admit their staff lack digital skills, [...]
UK car industry sees worst month for six years in May, Natwest says June 24, 2019 The UK’s car industry suffered its worst month for business conditions in six-and-a-half years in May, according to a new survey by Natwest, as Brexit and a global slowdown continued to hurt the sector. Read more: Pound falls as UK economy shrinks 0.4 per cent in April British car makers last month saw the steepest [...]
No-deal Brexit could dent UK’s technology-driven growth, says KPMG June 24, 2019 If Britain leaves the European Union with a deal then new technologies will help UK trade more than triple to over £4 trillion by 2050, professional services firm KPMG said today. Read more: Mark Carney warns 150,000 firms not ready for no-deal Brexit Yet should the UK crash out with no deal, the total of [...]
MPs warn against UK neglecting ties with India in favour of China June 24, 2019 The UK is failing to build an economic and security relationship with India as it grows in wealth and influence, the Foreign Affairs Committee (FAC) has today warned. Read more: New UK-India tech hub to be opened in confidence boost for the City In a new report the FAC cautioned that Britain’s focus on building [...]
