Diverging forecasts on inflation and GDP from leading economists point to uncertain times for the UK December 20, 2016 Following a year in which British people have allegedly “had enough of experts” – or should that be “soothsayers and astrologers”? – it is a brave economist who will venture a guess at where we will be in 12 months' time. But that is what three prominent economists have done for the Economic Research Council. [...]
Uncertainty causes 20 per cent of market fluctuations says the ECB December 19, 2016 Uncertainty about the future has a measurable economic effect – and could account for as much as 20 per cent of fluctuations in the economy, according to a report by the European Central Bank (ECB). The ECB report said: “Macroeconomic uncertainty is estimated to have contributed significantly to real GDP growth fluctuations in the euro [...]
US services PMI sees December slowdown but continued health in the economy December 19, 2016 US services are experiencing a slight slowdown in December after peaking in October, according to a widely followed indicator of economic activity, but the indicator still shows healthy confidence levels in the world's largest economy. The US services purchasing managers’ index (PMI) fell to 53.4 in December, down from the 54.6 level last month, according to [...]
Eurozone wage growth rebounds as manufacturing and industry post strong gains – but Italian wages shrink December 19, 2016 Wage growth across Europe rebounded in the third quarter, in a sign the Eurozone economy may finally be responding to the European Central Bank’s (ECB) ultra-low interest rates. The cost of labour in the Eurozone rose by 1.5 per cent, while workers’ pay in the broader EU was driven higher – by 1.9 per cent [...]
UK banks still vulnerable to a “toxic cocktail” of taxpayer bailout risks says Treasury Select Committee chair December 19, 2016 The UK’s banks are still vulnerable to a “toxic cocktail” of risks for which the taxpayer may have to foot the bill, according to the head of the Treasury Select Committee (TSC). TSC chair and Conservative MP Andrew Tyrie is launching a new inquiry into the sector, stating that the public has a right to know [...]
Monte dei Paschi di Siena extends share offer in last-ditch attempt to secure private-sector bailout December 18, 2016 Struggling Italian lender Banca Monte dei Paschi di Siena (MPS) has until Thursday to secure a last-ditch private-sector bail-out before its end-of-year deadline. MPS announced the extension of its share offer period until Wednesday for retail investors, and Thursday for institutional investors, after repeatedly failing to find €5bn (around £4.2bn) in funding to help recapitalise the [...]
Star Wars spin-off Rogue One feels the force of $290m global opening weekend December 18, 2016 The latest installment in the Star Wars saga raked in over $290m (around £232m) in its first weekend of global showings, as Disney’s $4bn investment in the series continues to pay dividends. Rogue One: A Star Wars Story made $71m on its first day in the US – the 12th best opening day of all [...]
Deliveroo set to expand delivery-only kitchens – in shipping containers and car parks December 18, 2016 Deliveroo is set to expand the number of delivery-only kitchens in unusual spaces – including car parks and shipping containers – moving the online company further towards owning property as it tries to keep pace with growing demand. The food delivery company already has two sites up and running in London, with up to 20 kitchens [...]
China tops poll of UK investor expectations of highest stock returns in 2017 December 18, 2016 China will deliver the highest equity returns in 2017, despite prominent warnings that a slowdown in the world’s second largest economy presents one of the biggest risks to the global financial system, according to a poll of 9,000 UK investors. Over a quarter of UK investors believe that China will outperform every other major region, [...]
Optimism about the UK economy drove business confidence up for November December 16, 2016 Business confidence increased in November, as political turbulence around the Brexit vote has contributed to a volatile climate for companies, according to a new survey. UK businesses saw a two-point increase to 111.1 in November, according to an index compiled by YouGov and the Centre for Economics and Business Research (Cebr). A score of above [...]
