UK train fares set for another substantial rise as inflation climbs August 14, 2019 UK train fares are set for another substantial rise in January 2020 after the inflation gauge they are based on climbed by a yearly rate of 2.8 per cent in July, according to official figures released today. Read more: UK wage growth hits 11-year high in first quarter despite shrinking economy Each January, train fares [...]
Businesses vent fury at handling of Brexit after economy shrinks August 9, 2019 UK business organisations have condemned the continuation of Brexit uncertainty after it helped push the economy into contraction in the second quarter. They called for “decisive action” to turn the situation around. Read more: UK economy shrinks for first time in six years GDP fell by 0.2 per cent in the first quarter, data from [...]
Into the red: UK economy shrinks for first time in seven years August 9, 2019 The UK economy contracted for the first time since 2012 in the second quarter of the year as the unwinding of Brexit stockpiling and global trade tensions damaged growth, official figures showed today. UK GDP shrank by 0.2 per cent in the second quarter compared to the previous quarter, the Office for National Statistics (ONS) [...]
Independent central banks are under threat once more August 9, 2019 Being just a couple of decades old, the widespread adoption of independent central banks is relatively new to the world. Yet this is a role which now needs to adapt to a world whose politics is changing very fast. Different inflation objectives and tools have been discussed plenty of times before, but as the objectives [...]
The world’s local bank has a new boss on its doorstep August 9, 2019 It is just 4.3 miles from One Canada Square, HSBC Holdings’ headquarters, to 20 Gresham Street, the home of Lloyds Banking Group. How fitting, then, that “the world’s local bank” should have no further to look than its near-neighbour for its next chief executive. Mark Tucker, HSBC’s chairman, cautioned this week that his search for [...]
VAR in our time: A bluffer’s guide to how video assistant referees will and won’t be used in the Premier League August 8, 2019 A quiet business estate built on the site of a former rubbish tip in the furthermost fringes of west London could hardly feel more removed from the hustle, bustle and stardust of Premier League football. But it is here, at Stockley Park in Harlington, where the outcome of a new top-flight season will be shaped [...]
UK GDP preview: Banks down, sterling ready to break out? August 8, 2019 Ahead of the UK Q2 GDP print on Friday, gilts and UK bank stocks betray concerns about the economy that the official figures are likely to back up. Meanwhile GBPUSD is nearing the end of a narrowing wedge that could signal it’s ready to move out of its August range on whatever the GDP point [...]
TfL warns of Bishopsgate delays after lorry breaks down near Bank of England August 8, 2019 Traffic is running delays from Liverpool Street station after a broken down vehicle blocked a key road close to the Bank of England. The A10 Bishopsgate is blocked to southbound traffic at the junction with Threadneedle Street, Transport for London (TfL) warned, due to a broken down skip lorry. “There are delays from Liverpool Street [...]
London will retain financial firepower even in ‘worst possible’ Brexit, says Central Bank of Ireland August 8, 2019 London is likely to remain a leading global financial centre even in the most adverse Brexit scenarios, the Central Bank of Ireland has concluded in a new report. The EU-based Central Bank has said that even in the worst possible outcome of Britain’s departure from the EU, the impact on the capital’s financial and related professional [...]
Labour government would cause sterling to plunge 10 per cent: report August 8, 2019 A Labour government would cause an “immediate” 10 per cent drop in sterling, or more if it followed a no-deal Brexit, a report has today warned. Amid growing reports that an autumn general election could be on the cards, Oxford Economics claims a Labour government would cause significant damage to the UK’s economy. It argues [...]