Sterling soars as UK inflation hits 20-month high after Brexit vote August 16, 2016 The pound has jumped this morning after figures showed prices in the UK are rising at their fastest rate since the end of 2014. Inflation came in at 0.6 per cent in July on the consumer prices index (CPI), ahead of expectations and up from a rate of 0.5 per cent in June. Sterling charged [...]
Economists expect another month of stable inflation before sterling’s Brexit devaluation hits prices August 13, 2016 Inflation figures out this week are expected to reveal sterling's dramatic post-referendum collapse is yet to hit prices for UK consumers. Statistics out on Tuesday, which will show how quickly prices rose in July, the first full month after the referendum, will also be watched closely by commuters as they determine how much train tickets will [...]
Before the bell: What you need to know before the US market open August 9, 2016 US stocks are nearing record highs and China's inflation grew at its slowest rate in seven months. Here's what you need to know ahead of the US market open at 2:30pm London time. US stock markets are nearing all time highs (the S&P 500 hit an all-time high of 2,185.54 points yesterday, although it pulled [...]
The pound has not been so sterling after Brexit: How currency weakness will hit our travel plans, inflation and trade August 8, 2016 The pound has been steadily falling as the Brexit referendum and Bank of England’s moves to shore up the economy have pushed investors into selling the pound. Its downward slide over the last 12 months means sterling is now worth 16 per cent less against the dollar, at £1/$1.31, compared to £1/$1.56 previously. It’s even [...]
Never mind GDP – euro edges up as eurozone inflation hits eight-month high July 29, 2016 The euro rose 0.2 per cent against the dollar to $1.1100 this morning after a slew of figures from the eurozone suggested things are getting better, albeit slowly. Eurozone inflation rose to the lofty heights of 0.2 per cent in July, its highest since the end of last year, better than analysts' expectations of 0.1 per cent. [...]
Forget populist executive pay curbs: Prime Minister May should embrace these six policies to revitalise growth July 11, 2016 Predictably, those who demand more government spending both when the economy is doing well and badly are calling for increases to see off any potential post-Brexit slowdown. “Infrastructure spending” is the call of the day, with masses of supposed “shovel-ready projects” with high returns apparently lying around for the government to undertake. Unfortunately, in the [...]
The leisure sector has grown to £117bn as Britons are spending their money on experiences rather than products July 4, 2016 Britons are increasingly spending their time and money on experiences rather than shopping, according to research from Deloitte. Spending on leisure activities such as going out for meals, holidays and TV streaming services is growing nearly twice as fast as the retail sector. The industry as a whole is now worth £117bn and since 2010 has grown [...]
Eurozone back in inflation for first time in five months June 30, 2016 Existential crises, political arguments and the clamour for referendums aside, the Eurozone nudged back towards a semblance of normality today, with a return to inflation in June. Price rose by 0.1 per cent in the year to June, according to the official EU stats body, Eurostat, ticking into positive territory for the first time since January. Cheaper energy [...]
Brexit blues: Consumers say they’ll be saving in the coming months as analysts predict a spending squeeze for Brexit Britain June 29, 2016 Brexit is already starting to bite for consumers, with the some of the first insights into post-referendum attitudes showing that Brits are convinced their livelihoods will be hit and predictions that UK spending will be squeezed. Sixty-one per cent of consumers are worried about the future of the UK economy and think Brexit will negatively impact their [...]
The fashion industry has slumped into negative growth for the first time in six years June 29, 2016 The fashion industry is in negative growth for the first time in six years, as the high street struggles with retail failures and declining footfall. Figures from Kantar Worldpanel show a 0.1 per cent fall in the spend on fashion goods such as clothing, footwear and accessories in the year to 5 June. Read more: 2016 set [...]