Giant US services sector ends the year on a bright note January 7, 2020 The US’s enormous services sector outperformed expectations in December, survey data has shown, finishing the year in a strong position compared to the country’s struggling manufacturers. The closely-watched Institute for Supply Management (ISM) purchasing managers’ index (PMI) came in at 55 in December, up from a reading of 53.9 the previous month. Read more: Eurozone [...]
London house prices rose twice as fast as the rest of UK in 2010s January 7, 2020 London house prices rose twice as fast as the UK average during the 2010s, a new report has shown, notching up a 66 per cent growth rate that was far faster than any other region. In the country as a whole, the average house price rose 33 per cent over the last decade as it [...]
Chinese yuan set for best day in six months as risk appetite returns January 7, 2020 The Chinese yuan was set for its best day in more than six months this morning after investors’ appetite for risk returned and as traders await the signing of a “phase one” trade deal between China and the US. China’s yuan – the unit of its renminbi currency – had risen 0.57 per cent to [...]
Qasem Soleimani: Mourners killed in stampede at general’s funeral January 7, 2020 At least 35 mourners have died in a stampede during the funeral ceremony of Qasem Soleimani, the Iranian military commander killed by the US in Iraq last week, Iranian state TV has reported. The deaths came as thousands of people flooded the streets of Solemaini’s hometown of Kerman in south east Iran for the final [...]
Financial sector contributed record level of UK tax in 2019 January 7, 2020 Britain’s financial services sector contributed a record £75.5bn in tax in 2019, according to a new report on behalf of the City of London Corporation, amounting to 10.5 per cent of all government tax receipts. The report, carried out by accounting giant PwC and released today, highlighted the value of financial services to the UK [...]
US stock markets open lower amid Middle East tensions January 6, 2020 US stock markets have opened lower after an escalation of tensions in the Middle East following the assassination by the US of the top Iranian general Qasem Soleimani. The Dow Jones industrial average dropped 0.43 per cent shortly after the bell, while the S&P 500 dropped 0.26 per cent and the Nasdaq fell 0.38 per [...]
Eurozone investor morale hits highest point in over a year January 6, 2020 Eurozone investors started the new year in good spirits, a survey showed this morning, as morale grew for the third month in a row thanks in large part to positive developments in the US-China trade war. Research group Sentix’s morale index rose to 7.6 points in January from 0.7 in December, taking it to its [...]
UK services PMI: Sector flatlines but confidence surges January 6, 2020 The UK services sector picked up in December but still failed to expand, survey data has shown, marking the fourth month in a row without growth for the vital component of the economy. Services companies became much more positive last month, however, following Prime Minister Boris Johnson’s thumping election victory which provided firms with the [...]
Centre for Policy Studies picks City billionaire Michael Spencer as new chairman January 6, 2020 The conservative Centre for Policy Studies (CPS) think tank has appointed City veteran and billionaire Michael Spencer as its new chairman to replace Lord Maurice Saatchi, who will step down after 10 years in the role. Spencer founded the financial services firm Icap, which became the Nex Group and was sold for almost £4bn last [...]
Lloyds Bank commits to £18bn of lending for UK companies January 6, 2020 Lloyds Bank has committed to lending £18bn to UK businesses over the course of 2020, the same amount as it promised in 2019 despite the uncertainties of the year ahead. The high-street bank said the money will be lent to companies across the spectrum, from “micro-businesses” to large multinationals. Read more: Barclays, Lloyds and RBS [...]
