Further education £1bn worse off than 2010 despite higher spending, says report September 19, 2019 Further education colleges and sixth forms will be £1bn short of what they would need to fully reverse cuts since 2010 despite extra government money, the Institute for Fiscal Studies (IFS) said today. Yet the leading economic think tank found that the extra money pledged by chancellor Sajid Javid to schools will “just about” reverse [...]
Bank of England holds interest rates at 0.75 per cent and warns over Brexit delay September 19, 2019 The Bank of England has kept interest rates on hold at 0.75 per cent and warned of the effects of another Brexit delay on the economy. Read more: US Federal Reserve cuts interest rates by a quarter point The unanimous decision by the Bank’s monetary policy committee (MPC) came despite the US Federal Reserve lowering [...]
US Federal Reserve cuts interest rates by a quarter point September 18, 2019 The US Federal Reserve has cut interest rates for the second meeting in a row amid concerns about a global economic slowdown, in a move which was largely expected by economists. The central bank lowered its main federal funds target rate by 25 basis points (0.25 percentage points) to between 1.75 and two per cent, [...]
Fed injects over $100bn after key borrowing rate hits all-time high September 18, 2019 Pressure on a crucial US money market has eased after the Federal Reserve injected $75bn (£60bn) following a spike in short-term borrowing rates to record highs. Read more: Donald Trump demands ‘boneheads’ at Fed slash rates to zero Borrowing costs in the repurchasing – or repo – market soared to as high as 10 per [...]
Why the Bank of England will buck the trend and hold interest rates September 18, 2019 The US Federal Reserve and European Central Bank (ECB) both slashed interest rates at their last meetings, citing trade wars and stubborn inflation respectively. With the UK economy in contraction – it shrank 0.2 per cent in the second quarter – and inflation falling in August, there is a case for the Bank of England [...]
Falling computer game prices drag UK inflation to lowest rate in three years September 18, 2019 UK inflation slipped to its lowest point in three years in August, official figures have shown, dragged down by falling computer game prices. Read more: Fall in UK unemployment pushes earnings growth to 11-year high Prices in British shops rose by an annualised rate of 1.7 per cent in August, the Office for National Statistics [...]
Dutch government to boost spending as king warns over Brexit and trade wars September 17, 2019 The Dutch government has announced it will increase spending and reduce its budget surplus, days after the European Central Bank (ECB) suggested such a move could help boost Eurozone growth. Read more: ECB turns stimulus taps back on with first rate cut in three years The Netherlands’ King Willem-Alexander, speaking as Prime Minister Mark Rutte’s [...]
US industrial production beats expectations with strong growth in August September 17, 2019 US industrial production bounced back in August after falling in July, official figures have shown, in the latest sign that the economy is performing better than its major peers. Read more: US manufacturing sector shrinks for first time in three years, survey shows Industrial production rose 0.6 percent in August month on month, the US [...]
Confidence among German investors grows despite recession worries September 17, 2019 The mood among German investors has improved despite the economy teetering on the edge of recession, with a closely-watched gauge beating economists’ expectations. Read more: Germany to tumble into recession, says Ifo think tank The economic sentiment indicator from German research institute ZEW gave a score of minus 22.5 in September, rising from minus 44.1 [...]
Recruiter Staffline’s share price dives as it swings to £8m loss September 17, 2019 Recruiter Staffline swung to a near £8m loss in the first half of 2019 as it warned of a slowdown in new business contracts, sending its share price crashing. Read more: Recruiters warn City job hunters over old social media posts The figures Staffline blamed a series of “unfortunate challenges” as well as Brexit uncertainty [...]