US manufacturing sector rebounds amid lower trade tensions February 3, 2020 The US manufacturing sector rebounded in January after shrinking for five straight months, survey data showed today, in a sign that the country’s factories are set for a better year than they had in 2019. The Institute for Supply Management’s (ISM) factory gauge rose to 50.9 last month, its highest point since July, up from [...]
Boris Johnson: UK doesn’t need EU rules for Brexit trade deal February 3, 2020 Prime Minister Boris Johnson has said the UK will not accept EU rules as part of a post-Brexit trade deal, but said Britain is not going to engage in a “cut-throat race to the bottom” standards. In a heavily trailed speech in London, the PM said: “There is no need for a free trade agreement [...]
UK PMI: Manufacturing sector hits nine-month high February 3, 2020 The UK manufacturing sector had its best performance in nine months in January, halting a long-running decline that began in May of last year, survey data has shown. The IHS Markit/Cips manufacturing purchasing managers index (PMI) rose to 50 in January as new orders and business confidence recovered. The score was well above December’s reading [...]
Global markets hit by coronavirus fears as investors look to haven assets February 1, 2020 Global equity markets suffered their biggest weekly and monthly losses since August on Friday. Investors have turned to safe-haven assets such as the Japanese yen, Swiss franc and gold, as the coronavirus continues to spread. The virus, which originated in China, continues to reach new countries, including the UK. More than 250 people have died [...]
Brexit: what’s next? The crunch dates ahead and what investors expect January 31, 2020 | City Talk The UK voted to leave the European Union by a margin of 52% to 48% in a referendum held on 23 June 2016. Since then, the debate over how and when the UK’s departure would happen has dominated the news in the UK. The December 2019 general election gave the Conservative party the majority it [...]
French and Italian economies shrink as Eurozone slows January 31, 2020 The French and Italian economies both unexpectedly contracted in the final quarter of the year as the struggling Eurozone caps off a year of weak growth. France’s economy – the second-biggest in Europe – shrank 0.1 per cent quarter on quarter in the final three months of the year, according to official statistics. Economists had [...]
Watchdog probes jump in sterling before Bank of England rate decision January 31, 2020 City watchdog the Financial Conduct Authority has opened an investigation into the jump in the value of the pound shortly before the Bank of England’s interest rate decision yesterday. The Bank confirmed it asked the FCA yesterday to investigate the unusual spike in the value of sterling. The value of sterling jumped about 15 seconds [...]
General election result calms consumer confidence ‘jitters’ January 31, 2020 UK consumer confidence jumped this month, signalling the end of a “jittery mood” as sentiment strengthens following the general election result. Research published this morning showed that sentiment improved by two points to minus nine in January, driven by increased confidence in both individual finances and the general economic situation over the next year. January [...]
Bank of England avoids interest rate cut as Mark Carney bows out January 30, 2020 The Bank of England has held off from an interest rate cut despite a surge in expectations that it would reduce rates for the first time in four years. Today’s decision came even as the Bank slashed its long-term growth forecasts for the UK economy to account for Brexit disruption and Britain’s productivity crisis. Read [...]
Brexit day: what happens on 31 January 2020? January 30, 2020 | City Talk Brexit day on 31 January marks the end of the UK’s membership of the European Union and the start of the “transition period”. After three previous departure dates came and went (20 March 2019, 12 April 2019 and 31 October 2019), it’s the one we all expect to actually happen. The transition – or “implementation” [...]