The Dow Jones Industrial Average breaks 20,000 for the first time as the Trump trade continues January 25, 2017 The Dow Jones Industrial Average (DJIA) has broken through the 20,000-point mark for the first time ever, crossing a symbolic line only a year after falling below 16,000. The index has surged over 2016, with the election of Donald Trump prompting a massive increase in US share prices in the last two months of 2017. [...]
German business sees a surprise fall in confidence as political risk looms January 25, 2017 Confidence in businesses in Germany has posted a surprise fall to start 2017, as worries over Europe’s medium-term outlook increased, according to a long-running survey. Sentiment fell from a three-year high in December to its lowest point since September, according to a survey of over 7,000 companies by Germany’s Ifo Institute. Analysts had expected a [...]
Optimism at two-year high ahead of Brexit for UK manufacturers as domestic demand drives morale up January 25, 2017 A boom in domestic demand has boosted optimism among British manufacturers to increase at its fastest pace for two years ahead of Brexit, according to a survey of UK businesses. More than a quarter of manufacturing firms are optimistic for prospects for the year ahead, according to the Confederation of British Industry (CBI), outweighing negative [...]
Ranked: the world’s most corrupt countries as Qatar leads the Middle East down January 25, 2017 Perceptions of corruption in Qatar have soared as it prepares to host the football World Cup in 2022, according to an influential index. Corruption perceptions in the Middle East rose more than any other region in the face of instability and crackdowns on freedom, according to non-governmental monitor, Transparency International. The Middle East has seen war [...]
The head of the BlackRock, the world’s biggest asset manager, has warned boards he will vote against excessive pay January 24, 2017 The chief executive of the world’s largest asset manager has warned companies it is invested in it will use its weight to vote down excessive executive pay. BlackRock’s Larry Fink said the asset manager would fight for “board accountability” for its investments in an annual letter to the chief executives of European companies. This includes [...]
Trump bump: US manufacturing activity expands at fastest rate since 2014 January 24, 2017 The US manufacturing sector started the new year on a high as Donald Trump assumes the Presidency, according to a survey of business activity. Manufacturing activity in the world’s largest economy expanded at the fastest rate since September 2014, according to flash estimates from data provider IHS Markit. The manufacturing purchasing managers’ index (PMI) rose [...]
Turkish lira slumps further as surprise decision to keep interest rates on hold undermines credibility of central bank January 24, 2017 Turkey’s central bank shocked investors as it left its main interest rate unchanged in the face of a sliding currency. The decision raises concerns about political interference in monetary policy by the government ahead of UK Prime Minister Theresa May's visit to Turkey this weekend, following her first meeting with US President Donald Trump. The [...]
Supreme Court ruling pushes sterling down despite forcing Parliamentary vote January 24, 2017 The Supreme Court’s decision to force the government to allow a vote on triggering Article 50 has provided scant consolation to the pound, which has extended losses in volatile trading. Sterling fell to lows of $1.2438 against the US dollar at the time of publication in response to the ruling. It had risen sharply ahead [...]
Government borrowing less than predicted putting it on track to undershoot deficit expectations January 24, 2017 UK borrowing was less than expected in December, boosting the government as it aims to eradicate the deficit in spending while avoiding an economic hit from Brexit. Borrowing to fund the deficit fell to £6.9bn in December, according the Office for National Statistics, putting it on track to undershoot the latest forecasts by the Office [...]
Europe’s business hires at the fastest rate since financial crisis as activity measure shows healthy growth across region January 24, 2017 Employment in the Eurozone economy increased at its fastest rate since before the global financial crisis hit in 2008, as surveys of business activity showed healthy activity across the region to start the year. Germany’s powerhouse industry led the way, as activity in the manufacturing sector hit a three-year high. The German manufacturing purchasing managers’ [...]
