Global stock markets rise as Trump and China dial down trade war rhetoric August 26, 2019 US and European stock markets climbed into the green today after US President Donald Trump calmed investors by saying China was seeking an end to the two sides’ raging trade war. Read more: Trump announces tariff hikes as US-China trade war escalates At the G7 world leaders’ summit in France, Trump said: “We are having [...]
Greece to fully lift crisis-era capital controls August 26, 2019 Greece’s new government today announced it will lift capital controls imposed during its debt crisis in 2015 in a move aimed at restoring the trust of international investors in the country. Read more: Eurozone economy slows as German weakness continues Prime Minister Kyriakos Mitsotakis told the Greek parliament: “From today, capital controls are a thing [...]
German CDU leader pledges to keep balanced budget as recession looms August 26, 2019 The leader of Germany’s ruling party has resisted calls to increase government spending to stimulate the economy, saying the “black zero” balanced budget policy is “indispensable”. Read more: German business confidence slumps to lowest point since 2012 Annegret Kramp-Karrenbauer, the leader of German Chancellor Angela Merkel’s Christian Democrats (CDU), said at a news conference: “The [...]
German business confidence slumps to lowest point since 2012 August 26, 2019 Morale among German business leaders slumped to its lowest point in seven years in August, according to a respected think tank which warned the country is approaching a recession. Read more: German economy shrinks in second quarter as exports slump The business climate index from think tank Ifo fell to 94.3 points from an upwardly [...]
Donald Trump Twitter tirade against China sends stock markets tumbling August 23, 2019 US President Donald Trump has further escalated his administration’s trade war against Beijing with a Twitter outburst that ordered American companies to return “home” from China. Read more: Fed will ‘act as appropriate’ to keep US economy growing, says chair Powell Trump’s tweets came just hours after Beijing announced it would apply tariffs to $75bn [...]
Fed will ‘act as appropriate’ to keep US economy growing, says chair Jay Powell August 23, 2019 Federal Reserve chairman Jay Powell has said the central bank will “act as appropriate” to ensure that the US economic expansion continues, but gave little insight into whether the central bank would further cut interest rates at its meeting next month. Read more: Pressure on for Fed chair Jay Powell at Jackson Hole “The US [...]
UK companies to miss research investment target by £19bn, says CBI August 23, 2019 British companies are set to miss the government’s 2027 target for investment in research and development (R&D) by £19bn, the CBI has warned today. Read more: UK tech startups attract record $6.7bn in foreign investment The business organisation called on the government to ensure that R&D tax credits, which provide tax incentives for private investment, [...]
China to tariff $75bn of US goods in trade war escalation August 23, 2019 China has announced it will tariff $75bn of US goods in the latest escalation in the long-running trade war with the US. China’s commerce ministry said in a statement it would impose additional tariffs of five and 10 per cent on over 5,000 US goods including agricultural products, crude oil, small aircraft and cars. The [...]
Chinese renminbi set for another weekly fall on trade tensions August 23, 2019 China’s currency the renminbi is broadly flat against the dollar this morning, but is on course to have fallen for three of the last four weeks. The tumbling currency will likely anger US President Donald Trump, whose administration officially accused Beijing of currency manipulation when the currency fell to the seven-per-dollar level at the start [...]
BoE advisor Huw van Steenis appointed UBS’s sustainable finance chief August 23, 2019 UBS has appointed Bank of England adviser and former investment banker Huw van Steenis to chair its new sustainable finance committee and take charge of investor relations. Read more: BoE’s Mark Carney cautiously welcomes Facebook’s new currency Libra Van Steenis was appointed as a senior adviser to BoE governor Mark Carney in May 2018, and [...]
