China’s growth boom could be threatened by debt levels says Fitch Ratings January 23, 2017 China’s massive levels of debt will cause an economic slowdown over the next two years, according to an influential ratings agency. The pursuit of “policy settings that prioritise short-term growth targets” could leave the world’s second-largest economy vulnerable to a slowdown next year, according to Fitch. The agency predicts growth will slow to 6.4 per cent [...]
Nigel Farage lands Fox News punditry role January 20, 2017 Former Ukip leader Nigel Farage has been signed up as a contributor to Fox News. The broadcaster said it would be using Farage, who recently made friends with incoming President Donald Trump, for political analysis. Read more: What's that coming over the hill? It's a Westmonster The Fox gig comes after Farage landed his own [...]
Bank junction is about to grind to a halt again as black cab drivers demonstrate for the fifth day in a row January 20, 2017 The junction outside the Bank of England will grind to a halt for the fifth consecutive afternoon today, as black cab drivers once again make their views felt over plans to reduce the number of fatal accidents there. Once again, City of London police pointed out that the protest, in which cabbies will bring their vehicles [...]
ECB president Mario Draghi is under investigation over allegations he played a part in an elite group of global bankers January 20, 2017 European Central Bank (ECB) president Mario Draghi is set to come under investigation by an EU body after a complaint over his membership of an elite group of bankers from around the world, including JP Morgan, UBS and Credit Suisse. The European Ombudsman, which follows up complaints by EU citizens over maladministration, will investigate whether [...]
Blockchain may have its ‘big moment’ in 2017 January 20, 2017 We're just about to start Blockchain Week – and the breadth and depth of organisations represented this year adds weight to the hype surrounding the blockchain technology's 'big moment' in 2017. Cutting through that hype isn't always easy but here's what we know…a blockchain is a shared database (sometimes called a distributed ledger) that records [...]
Brexit hit to operations expected by institutional investors but they will continue to hold UK assets, according to “Brexometer” January 19, 2017 Big institutional investors think Brexit will change their operating models but are determined to hold on to UK assets despite fears of a slowdown, according to a new survey. Of the institutional investors surveyed by State Street for its new “Brexometer” poll, 80 per cent expect Brexit to impact their operations, as the UK faces [...]
Pan-European trade body to scrutinise Brexit impact for EU, as the UK prepares for life outside the Single Market January 19, 2017 A leading trade body for Europe's financial markets has launched a study into what fallout the EU can expect from the UK leaving the Single Market. Prime Minister Theresa May laid out her vision for a post-Brexit Britain in a hotly-anticipated speech on Tuesday, including, as many had suspected, plans to leave the Single Market. [...]
How the Trump rally affected stock market valuations January 19, 2017 Stockmarkets rarely rally in the face of political and economic uncertainty. The combination of Brexit, Donald Trump’s election, the return of inflation and prospect of higher interest rates would normally undermine demand for shares. But instead, stockmarkets have rallied with some indices hitting all-time highs. Investors expect his policies to reinvigorate the US economy, [...]
How the Trump rally affected stock market valuations January 19, 2017 Stockmarkets rarely rally in the face of political and economic uncertainty. The combination of Brexit, Donald Trump’s election, the return of inflation and prospect of higher interest rates would normally undermine demand for shares. But instead, stockmarkets have rallied with some indices hitting all-time highs. Investors expect his policies to reinvigorate the US economy, and [...]
After wages grew faster than expected in the three months to November, is the UK economy overheating? January 19, 2017 Charles Dumas, chairman and chief economist at Lombard Street Research, says Yes. The 2016 British economy was at or above its potential, with no slack. Official estimates of a little slack ignore domestically generated inflation picking up fast. If you impose a 15 per cent devaluation on an economy already fully employed, you do not [...]