City economists urge Bank of England to avoid interest rate cut January 29, 2020 For the whole of 2019, the Bank of England’s monetary policy committee (MPC) held interest rates steady despite a slowing economy as parliament wrestled with Brexit. Yet with Britain now leaving the EU, there is a real possibility the MPC will cut rates for the first time in four years tomorrow, in what will be [...]
Coronavirus: Brits returning from Wuhan face two weeks in quarantine January 29, 2020 British citizens being flown back to the UK from the Chinese city of Wuhan tomorrow will be put in quarantine for two weeks as a precaution against coronavirus. The government will evacuate Britons from Wuhan, where the outbreak started, and the surrounding Hubei province as the virus spreads across China. Hundreds could be flown home. [...]
Hong Kong stocks tumble three per cent on coronavirus fears January 29, 2020 The Hong Kong stock index slumped three per cent overnight in its first day of trading since the coronavirus outbreak intensified over the Chinese Lunar New Year. Coronavirus has now claimed 132 lives while the number of cases has hit 5,974. The jump in deaths has triggered an international response, with British Airways the latest [...]
Mike Pompeo jets in to UK as US raises Huawei concerns January 29, 2020 US secretary of state Mike Pempeo will arrive in the UK for talks with the government today over its decision to let Chinese telecoms giant Huawei build parts of its 5G network against American advice. The talks are also expected to cover the death of Harry Dunn, another source of tension in the “special relationship” [...]
Santander annual profit falls 12 per cent on one-time charges January 29, 2020 Spain’s biggest bank Santander suffered a 12 per cent fall in profit in 2019 as the lender was hit by goodwill and restructuring costs and low interest rates. It pulled in record annual revenues, however, supported by solid expansion in the Americas, its yearly results showed today. The figures Profit before tax at the lender [...]
Saudi Telecom Company to pay $2.4bn for Vodafone’s Egypt stake January 29, 2020 Saudi Telecom Company (STC) is set to buy a majority stake in Vodafone’s Egyptian arm for $2.39bn (£1.84bn) after the two firms signed an initial agreement. STC, which is mainly owned by Saudi Arabia’s sovereign wealth fund, and Vodafone said they expect to complete the deal by the end of June 2020, should regulators approve. [...]
UK hiring confidence climbs after election January 29, 2020 UK businesses’ confidence in their hiring decisions grew in December, according to new survey data, in another sign that firms have been buoyed by the General Election outcome. Confidence among employers in the economy rose to minus 31 on the Recruitment and Employment Confederation’s (REC) scale in the October to December period from minus 33 [...]
Brexit and IR35 rules weighed on recruitment last year, says report January 28, 2020 UK financial services firms were reluctant to take on new employees last year as the fog of Brexit hung over the sector and new tax rules limited temporary roles, a report by recruitment firm Morgan McKinley has found. Yet despite the political turbulence, the tax, public practice, risk, investment management, and legal professions remained largely [...]
FTSE 100 edges higher after coronavirus sell-off January 28, 2020 The FTSE 100 has climbed higher in early-afternoon trading, making up lost ground after stock markets crumbled yesterday amid fears over the spread of coronavirus. The UK’s benchmark index had risen 0.5 per cent by 1.45pm to stand at 7,449. France’s CAC 40, Germany’s Dax and the Euronext 100 each also gained around 0.5 per [...]
UK retail sales flatline again after bruising Christmas January 28, 2020 UK retail sales flatlined for the third month in a row in January, survey data showed today, as Britain’s high street braces itself for “another tough year for the sector”. The CBI’s distributive trends survey said sales were also expected to be flat next month, marking a disappointing start to the year for the UK’s [...]
