Construction market ‘patience wearing thin’ with Brexit uncertainty July 18, 2019 London’s construction market appears to be losing patience with Brexit uncertainty, as output growth gains speed and workload expectations gather pace for the year ahead. According to a quarterly industry survey by RICS, 14 per cent more respondents reported an increase in construction workloads across London in the second three months of 2019. This is [...]
US senators grill top exec over Facebook libra cryptocurrency July 16, 2019 Facebook libra, the social network’s brand new cryptocurrency, should be regulated as if it is a security, the US House of Representatives heard today. US lawmakers were due to grill Facebook executives over its libra coin today as both Democrats and Republicans prepared to scrutinise chief executive Mark Zuckerberg’s latest project. Read more: Bitocin tumbles [...]
US retail sales beat expectations as economy blows hot and cold July 16, 2019 US retail sales beat economists’ expectations in June, official figures showed today, as the economy continues to send mixed signals to policymakers at the Federal Reserve. Read more: Dollar falls as US economy adds just 75,000 jobs in May and wage growth slows American shoppers bought 0.4 per cent more goods in June than they [...]
Bitcoin continues to tumble after central banks attack Facebook’s Libra coin plans July 15, 2019 Bitcoin fell over 10 per cent over the weekend following criticism of Facebook’s proposed digital currency from powerful figures including US President Donald Trump and chair of the Federal Reserve Jay Powell. Read more: Trump dismisses bitcoin, saying cryptocurrencies aren’t money The world’s largest cryptocurrency had rebounded slightly to $10,344 shortly after 11am UK time [...]
Three big questions corporate America must answer this week July 15, 2019 The seond quarter earnings season kicks off this week as investor attention for a while shifts away from central banks to how well actual companies are performing. There are several big questions facing corporate America as we hit this important period. Earnings recession Earnings season is coming with fairly low expectations. Two weeks prior to earnings season [...]
Hackers steal $32m from Tokyo cryptocurrency exchange July 12, 2019 Services have been suspended at a Tokyo cryptocurrency exchange after a further hack on virtual currency caused the loss of ¥3.5bn (£26m). Read more: Trump reveals why he is ‘not a fan’ of bitcoin Tokyo-based Remixpoint, which runs the Bipoint Japan exchange, issued an apology today saying it had confirmed the losses last night, after [...]
Shutdown: Heathrow Airport summer strikes threaten chaos for holidaymakers July 12, 2019 Holidaymakers planning to use Heathrow Airport this summer could be subjected to days of chaos, after Unite trade union warned its members are planning to go on strike. More than 4,000 workers are set to walk out on 26 and 27 July, 5 and 6 August, and 23 and 24 August. They will include security [...]
Trade tensions dent China’s exports and imports in June July 12, 2019 China’s exports and imports fell last month, as a tariff standoff with the US took its toll on the economy. The Chinese trading outlook waned in June, according to new figures that underline the country’s current growth troubles. Read more: Hunt is right to take a firm line on China China’s customs department reported today [...]
Bank of England could cut interest rates to near zero in no-deal Brexit July 12, 2019 Interest rates could be cut to almost zero if Britain leaves the European Union without a deal, a top official at the Bank of England said today. Gertjan Vlieghe, a member of the Bank’s rate-setting monetary policy committee (MPC), told an audience in London today that Threadneedle Street might have to slash rates to nearly [...]
Trump dismisses bitcoin, saying cryptocurrencies aren’t money July 12, 2019 The UK ambassador, the chair of the Federal Reserve and even the star player on the US women’s soccer team have all fallen victim to Donald Trump’s ire in recent weeks. But last night the President used his Twitter account to aim his sights at a rather different target: bitcoin and Facebook’s new proposed currency, [...]