Industry groups call on chancellor Philip Hammond to cut businesses some slack in the Spring Budget next month February 6, 2017 Businesses large and small are calling on chancellor Philip Hammond to ease the mounting burden on firms in next month's Budget. Business rates, the apprenticeship levy, the national living wage and pensions auto-enrolment are some of the rising costs highlighted by two influential business groups today. In its submission to the Treasury ahead of the Budget [...]
Government should cut business rates if there is a Brexit slowdown says CBI February 6, 2017 The government should be prepared to cut business rates in the event of a Brexit slowdown, says an influential business group, while expressing concerns the apprenticeship levy may not be ready in time. The Confederation of British Industries (CBI) expects growth to slow in 2017 to 1.5 per cent, and wants the government to be [...]
Donald Trump continues to make waves in markets round the world as FTSE 100 gains over the week February 3, 2017 The FTSE 100 ended the week in much the same position as it started, closing on Friday at 7,198.28 points, an intraday gain of 0.81 per cent after starting the week at 7184.49 points. Newly minted US President Donald Trump managed to talk down the dollar over the course of his second working week (with [...]
US non-farm payrolls show jobs booming to highest growth rate since July February 3, 2017 The number of jobs added to US non-farm payrolls in January soared to 227,000, but disappointing wage growth made investors bet against a near-term interest rate rise from the Federal Reserve. Unemployment rose slightly to 4.8 per cent, according to the US Bureau for Labor Statistics, while average earnings grew by only 0.1 per cent. Economists [...]
Bank shares rally as Donald Trump’s top economic adviser Gary Cohn signals the death of Dodd Frank February 3, 2017 Bank shares have risen on news Donald Trump will today roll back Dodd-Frank banking regulation, according to a senior member of the US President’s administration. Gary Cohn, the director of the White House National Economic Council, said dismantling the regulation, which is aimed at avoiding another Lehman-style crisis, means US consumers will have "better choices". "Americans are [...]
Fears of a Brexit hit disappear for UK services managers despite big costs increases slowing activity February 3, 2017 Business expectations of future growth in the UK’s dominant services sector have recovered to their pre-referendum levels, as Brexit fears dissolve despite the looming start of trade negotiations, according to a survey of managers. However, the pound dropped sharply as current activity slowed more than economists had predicted. The spot exchange rate fell to lows [...]
Eurozone job growth reaches nine-year high as economy maintains end-of-year momentum February 3, 2017 Job creation in the Eurozone has reached its highest point since February 2008, before the global financial crisis caused unemployment to soar, according to a survey of managers. France’s labour market created jobs at its fastest rate in a year and a half, according to IHS Markit’s purchasing managers’ index (PMI) for industry in the [...]
Trump election is “positive” for the UK, says Bank of England’s Ben Broadbent February 3, 2017 Donald Trump’s election as US President has had a “positive” effect on the UK’s economy, according to the Bank of England’s deputy governor. Ben Broadbent said the new US administration’s policies of higher spending on infrastructure as well as tax cuts and deregulation will help promote global growth, benefiting the UK. “It is a positive thing,” [...]
Bank of England in dramatic upgrade of UK growth forecasts February 2, 2017 Bank of England governor Mark Carney dramatically revised up growth forecasts today, while dismissing fears of banks leaving the UK after Brexit. The Bank now predicts no slowdown over the course of this year. GDP will climb two per cent, according to the Bank’s latest forecasts, the same rate as growth in 2016. The upgrade [...]
French bond yields rise as Fillon scandal threatens to deliver far-right Marine Le Pen the Presidency February 2, 2017 Investors are fleeing French government debt on fears that far-right Marine Le Pen will become President, as the candidacy of former favourite Francois Fillon continues to be tainted by a scandal involving his Welsh-born wife. The yield on the French 10-year government bond has risen steadily over the past month to reach highs of 1.128 [...]
