US retail sales beat expectations as economy blows hot and cold July 16, 2019 US retail sales beat economists’ expectations in June, official figures showed today, as the economy continues to send mixed signals to policymakers at the Federal Reserve. Read more: Dollar falls as US economy adds just 75,000 jobs in May and wage growth slows American shoppers bought 0.4 per cent more goods in June than they [...]
German investors grow gloomier over Iran and trade tensions July 16, 2019 German investors became increasingly gloomy about the country’s economic prospects in July, a survey showed today, as they fretted over the raging US-China trade war and tensions in Iran. Read more: German malaise continues as factory orders tumble The ZEW think tank’s indicator of economic sentiment fell to minus 24.5 points in July compared to [...]
UK unemployment stays at 45-year low as wages tick up July 16, 2019 Just 3.8 per cent of working age Britons were out of a job in the three months to the end of May, according to official figures released today, the lowest figure since the mid-1970s. Read more: UK economy ‘close to stagnation’ despite service sector growth High numbers of people in work caused employers to raise [...]
Regulators say firms ‘must not wait’ to move away from Libor July 15, 2019 Two of finance’s most powerful regulators yesterday told the sector to speed up its move away from contracts linked to the scandal-hit Libor benchmark. Read more: Bank of England calls ‘last orders’ on Libor New York Federal Reserve president John Williams said financial institutions “must not wait” to stop using the lending benchmark in a [...]
FTSE 100 chairs predict further Brexit extension July 15, 2019 A majority of the leaders of the UK’s biggest companies think that Brexit will be delayed past Halloween, according to a new survey of the chairs of FTSE 100 firms. Read more: Rudd: I won’t lie down in front of the bulldozers to stop a no-deal Brexit Meanwhile only 13 per cent of blue-chip bosses [...]
Trump 2020? Firms haven’t felt this gloomy since the financial crisis July 15, 2019 Global businesses were at their gloomiest about business activity and profits since the financial crisis in June, a new survey has shown. Read more: China growth slows to 27-year low Bosses were increasingly anxious about US trade tensions with China, Mexico and the European Union, as well as the possible reelection of President Donald Trump [...]
Donald Trump says his trade war tariffs are ‘major factor’ in China slowdown July 15, 2019 US President Donald Trump has claimed that his tariffs are damaging China’s economy after its growth slowed to a 27-year low. Read more: China growth slows to 27-year low “The United States Tariffs are having a major effect on companies wanting to leave China for non-tariffed countries,” Trump tweeted. He added: “We are receiving Billions [...]
Bitcoin continues to tumble after central banks attack Facebook’s Libra coin plans July 15, 2019 Bitcoin fell over 10 per cent over the weekend following criticism of Facebook’s proposed digital currency from powerful figures including US President Donald Trump and chair of the Federal Reserve Jay Powell. Read more: Trump dismisses bitcoin, saying cryptocurrencies aren’t money The world’s largest cryptocurrency had rebounded slightly to $10,344 shortly after 11am UK time [...]
Jeremy Hunt says time running out to save Iran nuclear deal July 15, 2019 Foreign secretary Jeremy Hunt this morning insisted the Iran nuclear deal can still be salvaged as he arrived in Brussels for a meeting on the crisis. Read more: UK deploys second warship to gulf amid rising Iran tensions Hunt is meeting European Union foreign ministers to try to reach a solution to tensions with Iran, [...]
Mark Carney too busy to think about IMF role – for now July 11, 2019 Mark Carney today refused to be drawn on whether he has his eyes set on the top job at the International Monetary Fund (IMF) after he leaves the Bank of England in January. Read more: IMF chief Christine Lagarde among surprise picks for top EU jobs The Bank’s governor said there were “a few orderly [...]
