Leading German think tank supports minimum global tax rate plans November 20, 2019 A leading German economic think tank has voiced its support for the OECD’s plans for an international minimum corporate tax rate. The Paris-based international organisation has proposed an overhaul to global tax rules that would ensure companies pay a minimum tax rate in their home countries, establishing “a floor for tax competition among jurisdictions”. Read [...]
Stop attacking ECB, new board member tells fellow Germans November 20, 2019 Incoming European Central Bank (ECB) board member Isabel Schnabel has told her fellow German economists to dial back their attacks on the Eurozone’s central bank, saying they threaten the euro. “Dear fellow German economists, if you are wondering what you can do for Europe: Please help to dispel the harmful & wrong narratives about the [...]
ECB: Record-low interest rates causing ‘excessive risk-taking’ November 20, 2019 Record-low interest rates in the Eurozone have led to “excessive risk-taking in some sectors” which could threaten financial stability, the European Central Bank (ECB) has warned. The ECB defended low rates in its latest financial stability report, however, saying they were necessary to support economic activity in the struggling Eurozone. Read more: ECB warned over [...]
UK manufacturing sector continues decline despite some signs of life November 19, 2019 UK manufacturing output continued to fall in November, a closely-watched survey has shown, but there were signs that the sector’s fortunes could be improving. Orders picked up by more than expected from the decade low seen in October. But they stayed well below their historical average, the CBI said in its latest industrial trends survey. [...]
The economy is slowing – can central bankers fight the next downturn? November 19, 2019 The global economy has not had a good year, to put it mildly. Trade-war uncertainty and Chinese weakness have taken a heavy toll, with growth in 2019 set to be the worst since the financial crisis, according to the International Monetary Fund. Such an environment has produced many doomsters and gloomsters, to use Boris Johnson’s [...]
How the pound could react to a Tory General Election victory November 18, 2019 Buffeted by Brexit and a global economic slowdown, the pound has had a wild ride in 2019. Now, City economists believe sterling is at a crossroads, with the upcoming General Election poised to send sterling soaring – or diving. A Conservative majority could fire the pound above $1.40, analysts said, but a Labour victory may [...]
Economic insecurity ‘new normal’ as Brits fear for living standards November 18, 2019 Economic insecurity has become the “new normal” for Brits as millions fear their living standards will fall over the next decade, the boss of a top charity is set to warn. Matthew Taylor, chief executive of the Royal Society for the Encouragement of Arts, Manufactures and Commerce (RSA), will today argue that changes in the [...]
Number with wages set by Whitehall could treble after election November 15, 2019 The proportion of workers paid the minimum wage would treble under Labour’s plans and double under the Tories, a report has found, causing a dramatic increase in the number whose pay is set directly by Whitehall. The Conservatives have pledged to raise the so-called national living wage to around £10.50 by 2024 and extend it [...]
Business leaders join forces to push competitiveness agenda for UK November 15, 2019 Business leaders from companies such as John Lewis, Lloyds Banking Group, Deloitte and BAE Systems will meet today to promote the importance of business competitiveness. A business group pushing the competitiveness agenda called Be the Business will today launch Business Leadership for a Better Decade campaign to try and demonstrate the importance of competitiveness to [...]
UK retail sales unexpectedly fall as economy slows November 14, 2019 The amount of goods sold in UK shops unexpectedly fell in October, official figures have shown, in the latest sign that the economy is slowing. The weak performance will be a concern to retailers as the sector heads towards Christmas, especially given that the period covered Halloween, a traditionally busy time for shops. Read more: [...]