Donald Trump says US-China trade talks going well October 11, 2019 US President Donald Trump said today that the trade talks between the US and China were going well. He tweeted: “Good things are happening at China Trade Talk Meeting. Warmer feelings than in recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something [...]
UK recession fears ease as quarterly GDP growth beats Brexit concerns October 10, 2019 Fears of a Brexit-fuelled UK recession in the immediate future have eased, despite Britain’s economy shrinking 0.1 per cent in August. That is because Britain’s estimated GDP grew 0.3 per cent in the last three months, according to Office for National Statistics monthly data. Read more: New IMF chief Kristalina Georgieva says trade wars to [...]
Markets hope for trade pact as US-China talks restart October 10, 2019 Trade talks between the US and China are set to start again today in a bid to reduce the tensions between the two economic giants. US markets rallied last night, with the S&P 500 closing up 0.9 per cent. European markets opened positively this morning, while Asian markets closed up. Read more: The US-China trade [...]
Healthcare giant Philips issues profit warning on US-China trade tariffs October 10, 2019 Dutch healthcare-tech giant Philips has warned the trade war between the US and China will stop it hitting targets for profit margin improvement this year. In an update ahead of its third-quarter report, the European firm said rising tariffs would hamper its earnings before interest, tax and amortisation (EBITA) margin. Read more: Philips to close [...]
Disruptive no-deal scenario could weaken the UK equity market and pound October 9, 2019 UK equities and sterling could both suffer a double-digit hit to their value from a disruptive no-deal Brexit, according to a new financial stress test. In the event of a disorderly departure from the European Union, UK equity markets and the pound relative to the dollar could weaken by 15 per cent and 10 per [...]
Asian stocks fall after US-China trade war anxiety sees Wall Street bleed October 9, 2019 Asia stocks recorded their biggest drop in a week overnight after US-China trade tensions left American stocks bleeding red yesterday. The Nikkei 225 fell 0.6 per cent to 21,456 while Hang Seng sank 0.6 per cent to 25,741 after US markets tumbled amid rising anxiety before crunch talks between Washington and Beijing. Read more: Global [...]
Debate: Are the Extinction Rebellion protesters right to target their anger at capitalism? October 9, 2019 Are the Extinction Rebellion protesters right to target their anger at capitalism? Yes – Asad Rehman is executive director of War on Want From the burning of the Amazon to the melting Arctic ice shelf, we are watching our planet rushing into catastrophe. But behind this crisis is also a story of extreme poverty and inequality, [...]
The public wants leadership on climate, not a bitter culture war October 9, 2019 The plan by Extinction Rebellion offshoot Animal Rebellion to shut down Billingsgate fish market is one of the daftest things I’ve heard. In the list of priorities for reducing greenhouse gas emissions, the fishing industry is nowhere. Wild-caught seafood is probably the lowest carbon source of animal protein you can eat, so it’s hard to [...]
New IMF chief Kristalina Georgieva says trade wars to cost global economy $700bn October 8, 2019 The new boss of the International Monetary Fund (IMF) has used her first speech in the role to warn that trade wars, Brexit, and political tensions will push global growth to its lowest rate in a decade. Read more: World Bank’s Kristalina Georgieva unopposed for IMF top job Kristalina Georgieva, the 66-year old Bulgarian economist, [...]
Recruiter Robert Walters would prefer a no-deal Brexit to more uncertainty as profits sink October 8, 2019 Recruiter Robert Walters’ blamed a “cocktail of confusion” for a profit warning today, as UK revenues dropped 11 per cent on the back of Brexit uncertainty and a darkening global economic outlook. However, chief executive Robert Walters insisted the UK economy is not yet in the doldrums, and said a no-deal Brexit would be better [...]