You can tune out, the Brexit melodrama won’t get fixed anytime soon October 16, 2019 A few weeks ago, I took a break from reading the news because I was worried that Brexit developments were stressing me out too much. When I returned to the papers late last week, I was relieved, and hardly surprised, that I hadn’t missed much. As we approach the 31 October Brexit deadline, we appear [...]
Brexit negotiators will keep talking until ‘one minute to midnight’ as summit looms October 15, 2019 Brexit talks will stretch until “one minute to midnight” in order to secure a last-minute deal at this week’s European Council, Downing Street sources said yesterday. Negotiators were locked in talks throughout the night after EU chief negotiator Michel Barnier said a legal text must be on the table by this morning at the latest, [...]
Sterling surges against dollar and euro amid renewed hope of Brexit breakthrough October 15, 2019 Sterling has jumped to its highest levels since the summer amid rising optimism about a potential breakthrough in Brexit negotiations. The pound was trading up more than three per cent at $1.277 this afternoon, while it rose against the euro to buy €1.157. Read more: Disruptive no-deal scenario could weaken the UK equity market and [...]
IMF warns 2019 global growth will fall to lowest since financial crisis October 15, 2019 Global economic growth will be just three per cent this year, the International Monetary Fund (IMF) has predicted, its lowest level since the financial crisis and a downgrade from the organisation’s April prediction. Read more: IMF chief says trade wars to cost global economy $700bn The “big four” developed economies of the US, China, the [...]
First time buyer mortgages hit 12-year high October 15, 2019 The number of first time buyer mortgage completions in August soared to the highest level since before the financial crisis. There were 35,010 mortgage completions for new buyers – an increase of 0.7 per cent on August last year – reaching the highest level since 2007. Read more: Mortgage approvals grow despite Brexit uncertainty Andrew [...]
Fees fall flat at Hays as uncertainty slows hiring October 15, 2019 Recruitment firm Hays reported flat net fees in the first quarter as Brexit uncertainty dampened hiring activity in the UK. The company said there was strong hiring in the US and China, however, Germany, the company’s largest market, reported flat net fees. Read more: Shares in Pagegroup tumble as it warns on profits for second [...]
UK unemployment rate rises as Brexit fears hit labour market October 15, 2019 The UK’s unemployment rate rose in the latest quarter, according to data released today, coming off a long running 45-year low as Brexit hit the labour market. Unemployed workers rose by 0.1 percentage points compared to the previous quarter to 3.9 per cent between June and August, Office for National Statistics (ONS) figures showed. Read [...]
Eleventh hour Brexit proposals to be tabled by UK October 15, 2019 UK negotiators are poised to table new proposals in a last-ditch bid to secure a Brexit deal. According to Irish broadcaster RTE, the latest set of proposals – which are being put forward after the supposed deadline for a deal has passed – follow a 90 minute meeting between Prime Minister Boris Johnson and DUP [...]
Sainsbury’s beats rivals to report sales growth October 15, 2019 Sainsbury’s beat its rivals to become the only major UK supermarket to report sales growth in the last 12 weeks. The grocer’s sales increased 0.6 per cent, its fastest rate since October last year, while the other “Big Four” supermarkets- Tesco, Asda and Morrisons – saw sales decline 0.2 per cent, 0.9 per cent and [...]
Shares in UK engineer Renishaw fall as profit slumps October 15, 2019 Shares in UK engineering firm Renishaw have fallen 6.4 per cent after the company warned that trading conditions will “remain challenging” and revealed a dramatic fall in profit. Renishaw, which makes high-tech manufacturing machines, said adjusted profit before tax was £4.3m in the three months to the end of September, just a fraction of the [...]