London economy outperforms rest of UK ahead of General Election December 9, 2019 London’s economy continued to outperform the rest of the UK in November, survey data has revealed, with the capital’s businesses enjoying a recovery in new orders as the rest of the country struggled. New product releases, increased investment in marketing, and higher demand from US clients were some of the factors behind higher sales, according [...]
John McDonnell outlines plans to borrow extra £58bn for Waspi women pledge December 8, 2019 Shadow chancellor John McDonnell has defended the Labour party’s plans to borrow the vast majority of the £58bn of pension compensation it has promised 1950s-born women. Challenged over how Labour would pay for the expensive election pledge on BBC’s Andrew Marr show, McDonnell said: “We will borrow, and I don’t shy away from that, because [...]
Chinese exports unexpectedly drop as trade war takes a toll December 8, 2019 China’s exports suffered a shock fall in November and contracted for the fourth month in a row, official data showed today, as the world’s second-largest economy struggled to cope with the US trade war. Yet imports fared better than expected, suggesting Beijing’s programme of domestic stimulus could yet boost the slowing economy. Read more: US [...]
US jobs growth data beats expectations despite trade war concerns December 7, 2019 The US economy added 266,000 jobs last month despite economists’ expectations of a slowdown. It was the highest number of jobs added to the economy in 10 months, aided by striking GM workers returning to work and a rise in healthcare posts. The unemployment rate also reduced slightly from 3.6 per cent to 3.5 per [...]
German factory slump: Is the European powerhouse heading for recession? December 6, 2019 Germany has reported a “disastrous” fall in factory production, sparking fears the country could be dragged back towards recession. New figures from Germany’s work ministry revealed industrial output slumped 1.7 per cent month-on-month in October, well below analysts’ expectations and the quarterly average. On an annual basis, the figures marked the biggest drop in factory [...]
Permanent job appointments fall due to political uncertainty December 6, 2019 The number of permanent job appointments dropped again last month as growth in the demand for staff fell to a ten year low due to political uncertainty heightened by the upcoming General Election. November’s drop in permanent appointments stretched the length of the decline to nine months, the longest period of contraction since the financial [...]
Tax cut promises ‘at odds’ with Tory manifesto, think tank says December 5, 2019 Boris Johnson’s claims that he would deliver a tax-cutting Budget in the first 100 days of a new government “are at odds with his party’s manifesto”, a think tank has said. The Prime Minister last night laid out his priorities for government, saying chancellor Sajid Javid would hold a Budget that cut taxes for families [...]
Japan approves $122bn stimulus package as governments start spending December 5, 2019 Japan’s cabinet has approved a huge $122bn (£92bn) stimulus package to combat stalling growth and insure against global trade tensions. The government expects the 13.2 trillion yen package to push up growth by 1.4 per cent by the end of the 2021 fiscal year. Economists have cautioned the effects could be lower, however. Read more: [...]
Pound hits 31-month high against euro ahead of General Election December 5, 2019 The pound hit a 31-month high against the euro this morning as the Conservatives edged closer to victory in the 12 December General Election. The latest poll, from Savanta Com Res last night, put the Tories ten points ahead of Labour, boosting traders hopes’ that a Boris Johnson-led government would leave the European Union with [...]
Global growth to pick up next year despite US and China slowdowns, says report December 4, 2019 Global economic growth is set to pick up in 2020 despite the world’s two biggest economies slowing, according to asset manager Investec. The world economy will expand 3.3 per cent in 2020, Investec said, picking up from a post-crisis low of 2.9 per cent growth this year. Read more: FTSE 100 slumps as Trump suggests [...]