Hays profits subdued by restructuring costs as recruiter braces for economic slowdown August 29, 2019 Recruiter Hays’ full-year profits have been weighed down by stalling economic growth in some of its biggest markets, as well as one-off costs related to reshaping its European operations. Shares in the FTSE 250 listed company fell 3.6 per cent in early morning trading after it reported the impact of a macroeconomic slowdown in the [...]
Italian bond yields hit record low on hopes of new coalition August 28, 2019 The yield on Italian government debt has fallen to a record low as hopes grow that a new government will soon be formed, putting an end to the country’s political crisis. Read more: Italy’s political crisis triggers bond sell-off The 10-year government bond saw its yield, the effective interest rate which moves inversely to the [...]
Brexit: Sterling sinks as Boris Johnson asks Queen to suspend parliament August 28, 2019 The pound plunged against the US dollar today as Prime Minister Boris Johnson is reportedly preparing to suspend parliament to pursue a no-deal Brexit. Sterling crashed 0.839 per cent to around $1.218 this morning, losing gains from yesterday amid reports that the government is expected to ask the Queen to suspend parliament. This afternoon it [...]
German consumers remain upbeat as country slides towards recession August 28, 2019 German consumers remained surprisingly positive in August despite warnings that the shrinking economy that could be heading into a recession, a survey has shown today. Read more: German economy racked by biggest export drop in six years, figures show The consumer sentiment indicator from researcher GfK held steady at 9.7 in August, the same as [...]
Supply and demand at work, or just good bargaining? The reality behind CEO pay August 28, 2019 A report published by Deloitte a couple of weeks ago will have enhanced the feeling of holiday wellbeing for many people. The median annual pay for bosses of FTSE 100 companies fell in 2018 to £3.4m, compared to £4m in 2017. This is the lowest level since 2014, when the UK brought in rules which [...]
UK employers growing gloomier but still looking to hire August 28, 2019 UK employers are losing confidence in the economy but are nonetheless looking to hire workers, a new survey has shown. Read more: Into the red: UK economy shrinks for first time in seven years The balance of employers’ confidence in the UK economy stood at minus 26 in the three months to July, down one [...]
US consumer confidence dips as expectations about economy fall August 27, 2019 US consumer confidence fell slightly in August following an increase in July, according to a closely-watched gauge, as expectations about the economy’s short-term prospects declined. Read more: Fed will ‘act as appropriate’ to maintain US expansion, vows chair Jay Powell Nonetheless, the drop in confidence was less than economists had predicted as consumers remain relatively [...]
China announces measures to tackle trade war-driven slowdown August 27, 2019 The Chinese government has announced measures to boost consumption in the country as its economy slows under the weight of its raging trade war with the US. Read more: Donald Trump announces tariff hikes as US-China trade war escalates As part of the drive to increase consumption the Chinese state council, equivalent to its cabinet, [...]
German economy racked by biggest export drop in six years, figures show August 27, 2019 Germany’s economy contracted in the second quarter, official statistics confirmed today, as exports fell at the fastest rate in six years. Read more: German economy shrinks in second quarter as exports slump Exports fell by 1.3 per cent quarter on quarter in the months from April to June, a detailed breakdown of Germany’s economic performance [...]
Optimism across UK’s dominant service sector tumbles in second quarter August 27, 2019 Optimism across the UK’s dominant service sector fell sharply in the three months to August, according to a new survey, in news that will worry policymakers as Britain flirts with recession. Read more: Into the red: UK economy shrinks for first time in seven years in second quarter The mood in the business and professional [...]