IMF head: US-China trade war biggest threat to global growth June 9, 2019 The head of the International Monetary Fund (IMF) has labelled the US-China trade war the principal threat to the global economy. Read more: IMF chief says majority of countries to see slow growth in 2019 Christine Lagarde said US-China tariffs could reduce the level of global GDP by 0.5 per cent or around $455bn (£357bn) [...]
Bank of England chief economist says UK rate rise is on the horizon June 8, 2019 The Bank of England’s chief economist, Andy Haldane, has said the UK is nearing the time it will need to raise interest rates to keep inflation pressures in check. Haldane wrote in The Sun on Saturday that “a lost decade” of wage growth is coming to an end ahead of “steady if not spectacular” growth [...]
Fund spotlight: UK Buffettology Fund June 7, 2019 | City Talk by Dzmitry Lipski from interactive investor. interactive investor’s analysts give an update and view on the UK Buffettology Fund. Warren Buffett’s recipe for success looks simple but few have successfully managed to replicate it. His well-known ‘Business Perspective Investing’ principles are hard to follow consistently and require patience, discipline and an ability to look at an investment like you [...]
Philip Hammond’s virtue signalling on low pay is hypocritical June 7, 2019 Philip Hammond may soon be out of a job. In fact, I would be very surprised if he remains chancellor of the Exchequer for more than a day or two after our new Prime Minister is chosen. Hammond is fond of reminding his critics that his demise has been predicted before. Yet while the Tory [...]
Dollar falls as US economy adds just 75,000 jobs in May and wage growth slows June 7, 2019 The US economy created a lower-than-expected 75,000 jobs last month and wage growth eased as Donald Trump’s trade war with China continued to bite. Job creation slowed sharply in May from the 224,000 new jobs recorded the previous month, falling far below estimates of 175,000. Read more: European stock markets bleed red as Trump takes [...]
British public’s inflation expectations hit 10-year high June 7, 2019 The British public’s expectations for inflation over the next five years has risen to the highest level in more than a decade. The Bank of England’s quarterly survey showed that the public’s average inflation expectations in five years has risen to 3.8 per cent, compared to 3.4 per cent in February. But short-term expectations over [...]
An all-out trade war with Trump is more likely by the day June 7, 2019 Donald Trump jets back home today after a predictably tumultuous week during which the US President betrayed his ignorance of the NHS, the Irish border and, more amusingly, the existence of Michael Gove. Thankfully the circus witnessed earlier in the week subsided in time for D-Day commemorations, allowing people on both sides of the Channel to [...]
ECB to keep rates on hold for at least another year June 6, 2019 The European Central Bank (ECB) will keep interest rates on hold at record-low levels until at least the second half of 2020, it said today, as it tries to spark some life into the Eurozone economy. Read more: Eurozone inflation slips to well below Eurozone target Its guidance had formerly said rates would stay on [...]
Brussels recommends crackdown on Rome over debt June 5, 2019 The European Commission (EC) has today said disciplinary procedures should be launched against Italy over its high levels of government debt. Read more: Italy could face €3bn fine over public debt The move will further inflame the row between Brussels and Rome over the issue of debt, as the Italian government seeks to cut taxes [...]
Eurozone’s ‘modest’ growth reliant on service sector June 5, 2019 The Eurozone’s private sector continued its “modest” expansion in May, aided by solid growth in services, according to the latest survey from data firm IHS Markit. Read more: Eurozone manufacturing sector shrinks for fourth straight month May’s services purchasing managers’ index – which measures the health of the sector – rose to 52.9 from 52.8 [...]