No fireworks: Bank of England and Federal Reserve set to hold interest rates next week January 27, 2017 With both the Bank of England and the Federal Reserve set to meet it’s a big week for monetary policy, but don’t expect fireworks, economists say. Since the collapse of Lehman Brothers sparked the financial crisis, the top 50 central banks have cut rates over 700 times, according to JP Morgan. While Brexit and the [...]
Donald Trump’s wall prompts investor stampede for infrastructure January 27, 2017 Donald Trump’s promises to build a massive wall with Mexico as well as to revive oil pipelines have prompted an investor rush to gain exposure to infrastructure assets. Inflows into funds focused on investments in the infrastructure sector surged in the last week, according to data provider EPFR. On assuming the US presidency, Trump signed [...]
EU Robin Hood financial transactions tax is “within reach” if politicians can agree says diplomat January 26, 2017 A financial transactions tax – also known as a Robin Hood tax – on trades is “within reach” according to the EU’s commissioner on tax, which could represent a barrier to the UK’s post-Brexit trade deal with the bloc. The original proposal was for a 0.1 per cent tax on trades in shares and bonds [...]
The Doomsday Clock is ticking on world’s nuclear apocalypse countdown as Donald Trump begins his reign as US President January 26, 2017 Time is ticking away for the world’s effort to avoid an apocalyptic catastrophe as Donald Trump takes the US Presidency, according to a group of scientists. The hand on the Doomsday Clock, a symbol of how close the world is to meltdown, has been moved 30 seconds closer to midnight. The time now is the [...]
Europe’s Stoxx 600 hits highest point since December 2015 January 26, 2017 Stocks across Europe have risen as a cluster of mergers and a share in the Trump trade boosted investor sentiment. The Euro Stoxx 600, which tracks large companies from across Europe including the UK, hit its highest point in almost 13 months, after rising at its fastest rate since the day after Trump’s election on [...]
Weaker retail sales suggest the UK’s consumer spending engine could stall January 26, 2017 Retail sales fell in January in the UK, surprising analysts and adding to suspicions the consumer spending engine driving Britain’s growth may be about to sputter. Almost a third of retailers surveyed report a decline in sales volumes in January, according to the Confederation of British Industry’s (CBI) distributive trades survey. While the decline comes [...]
Spain unemployment falls to lowest since 2009 January 26, 2017 Unemployment in Spain has fallen to its lowest point since 2009, as the economy continues its slow recovery. The jobless rate fell to 18.63 per cent in the fourth quarter of 2016, capping a fall in unemployment of more than two percentage points over the year, according to Spain’s National Institute of Statistics (INE). This [...]
UK economy sees no Brexit downturn with two per cent growth in 2016 January 26, 2017 The UK ended 2016 on a high as economic growth in the last three months of the year showed little sign of a hit in the aftermath of the Brexit vote. The economy grew by 0.6 per cent in the fourth quarter, beating economists’ expectations. This means the UK economy grew by two per cent [...]
Uber hasn’t destroyed jobs according to a new study – although taxi driver wages have suffered January 25, 2017 Uber has created more jobs than it has destroyed, according to a new study, despite regularly being characterised as one of the villains of the so-called sharing economy. The number of self-employed drivers rose by 50 per cent in cities where Uber started operations, more than compensating for jobs lost in the taxi sector, researchers [...]
Bank of England governor Mark Carney warns fintech’s democratic revolution poses risk to financial system January 25, 2017 The fintech revolution poses significant risks to the stability of the financial services sector, according to Bank of England governor Mark Carney. Fintech’s assault on the business models of traditional banks could increase liquidity risks for the broader financial system, Carney warned in a speech delivered at a G20 conference in Wiesbaden, Germany. “The opening [...]
