There’s no ‘war chest’ for extra spending, watchdog warns PM hopefuls July 18, 2019 Boris Johnson and Jeremy Hunt have been warned there is no “war-chest or pot of money” that would make big spending increases “a free lunch” by the UK’s budget watchdog. Read more: No-deal Brexit could cause ‘full blown’ recession in 2020 The Office for Budget Responsibility (OBR) said today that the next prime minister must [...]
No-deal Brexit could cause ‘full-blown’ recession in 2020 July 18, 2019 A no-deal Brexit could plunge Britain into a year-long recession and shrink the economy by two per cent next year, the UK’s public finances watchdog has warned. Britain may already be on the verge of a “full-blown” recession but crashing out of the European Union without a deal would damage growth further, the Office for [...]
‘Ray of hope’: Rising wages keep shoppers spending in June July 18, 2019 UK retail sales grew by one per cent in June compared to a month earlier, official figures have shown, reversing a fall in purchases in May. Read more: Real wages rise as UK inflation stays at two per cent However, in the three months to June British shoppers bought 0.7 per cent more goods, the [...]
Tepid Eurozone inflation stays well below ECB target July 17, 2019 Eurozone inflation rose to 1.3 per cent in the year to the end of June, official figures showed today, but was still well off the European Central Bank’s (ECB) two per cent target. Read more: Eurozone retail sales see surprise fall in May The weak rise in prices will bolster market expectations that the ECB [...]
France joins US and UK in warning over Facebook’s libra July 17, 2019 France has joined the US and UK in saying strong regulations must be in place before Facebook goes ahead with creating its proposed libra digital currency. Read more: US senators grill top exec over Facebook’s libra cryptocurrency The warning came as G7 finance ministers converged on the French town of Chantilly for a two-day meeting [...]
Will the Bank of England raise or cut interest rates after UK inflation data? July 17, 2019 UK inflation has grown at an annual rate of two per cent for the second month in a row, official statistics confirmed today. Read more: UK inflation stays at Bank of England two per cent target The consumer price index (CPI) figure is bang on the Bank of England’s target. It thinks two per cent [...]
Real wages rise as UK inflation stays at two per cent July 17, 2019 The prices in UK shops rose by two per cent in the 12 months to the end of June, official figures have revealed, with clothing and food costs rising most rapidly in the last year. Read more: UK unemployment stays at 45-year low as wages tick up The two per cent consumer price index (CPI) [...]
Business bodies unite to attack post-Brexit immigration plans July 17, 2019 A group of business organisations representing thousands of firms have demanded the next prime minister change proposed post-Brexit immigration plans to avoid worsening “chronic skills and labour shortages”. Read more: British businesses attack post-Brexit immigration policy The groups, among them business membership organisation London First, the British Retail Consortium (BRC), and the Recruitment and Employment [...]
Sterling hits new two-year low as no-deal Brexit risk jumps July 16, 2019 The pound tumbled to fresh two-year lows against the dollar today after the two candidates to replace Theresa May pledged to abandon the controversial Northern Ireland backstop proposals, ramping up the chances of a no-deal Brexit. Read more: Amber Rudd: I won’t lie down in front of bulldozers to stop no-deal Brexit Boris Johnson and [...]
Race begins for IMF top job as Christine Lagarde submits resignation July 16, 2019 Christine Lagarde will leave her post as managing director of the International Monetary Fund (IMF) on 12 September after she today formally submitted her resignation. Read more: IMF chief Christine Lagarde among surprise picks for top EU jobs Lagarde has been chosen to be the next head of the European Central Bank (ECB), and will [...]
