UK economy ‘close to stagnation’ despite service sector growth June 5, 2019 The UK service sector beat analysts’ expectations to reach a three-month high in May, according to survey data released today by IHS Markit and the Chartered Institute of Procurement & Supply (Cips). Read more: UK manufacturing sector shrinks to 34-month low Nevertheless, IHS Markit said the UK economy is “close to stagnation” as Brexit and [...]
Crisis-era ‘bad bank’ repays last of government loan June 5, 2019 The so-called bad bank created to take on the debts of Northern Rock and Bradford & Bingley (B&B) after the financial crisis has paid back the last of the almost £50bn used to fund the bailouts. Read more: Rothesay life buys £860m of UK ‘bad bank’ mortgage loans Treasury-owned UK Asset Resolution (UKAR) today said [...]
‘Stuck in the ice age’: Construction industry jobs fall at fastest rate in six years June 4, 2019 Britain’s construction industry suffered yet another blow in May, as the sector lost workers at the fastest rate since 2012. Read more: House building props up construction industry The sector remains in the grip of Brexit uncertainty, analysts warned this morning. This has reduced workloads and made firms reticent to replace departing staff, according to [...]
Donald Trump: UK can strike ‘very substantial’ trade deal with US after Brexit June 4, 2019 Donald Trump has told the UK it would be able to strike a “very substantial” trade deal with the US once it leaves the EU. The US president is in the UK for a three-day state visit, which began yesterday. Trump has already attended a state banquet with the royal family. This morning he met [...]
US manufacturing sector grows at slowest rate in 10 years in May June 3, 2019 The US manufacturing sector grew at its slowest rate since 2009 in May, according to survey data released today, in a sign that the world’s biggest economy is losing momentum. Read more: European stock markets bleed red as Trump takes trade war to Mexico Tariffs were widely blamed for dampening demand and increasing costs, helping [...]
Eurozone manufacturing sector shrinks for fourth straight month June 3, 2019 The Eurozone’s manufacturing downturn continued in May, according to survey data released today, with the sector contracting for the fourth successive month. Read more: Eurozone sees weak growth in May amid stagnant demand Weakness in Germany was once again a major drag on the overall Eurozone’s performance as it registered another marked contraction, today’s IHS [...]
Six investment trusts that pay a monthly income June 3, 2019 | City Talk By Kyle Caldwell from interactive investor. Just six investment trusts pay investors on a monthly basis. New research reveals which ones. It has never been easier for do-it-yourself investors to assemble an income portfolio, as over the past couple of years both open-ended funds and investment trusts have moved to pay income more frequently than [...]
European stocks stabilise following US-China trade war escalation June 3, 2019 European stocks stabilised following a slump this morning sparked by the escalation of the trade war between the US and China, the world’s two largest economies. The FTSE 100 was trading 0.16 per cent up this afternoon after falling 1.09 per cent to 7,084.5p in the morning. Dax, which tracks 30 major German companies, was up 0.3 [...]
DEBATE: Should there be a cap on inheritance tax breaks available to wealthy families? June 3, 2019 Should there be a cap on inheritance tax breaks available to wealthy families? Robert Palmer, executive director of Tax Justice UK, says YES. Inheritance tax is one of the most disliked taxes in the UK, in part because the super-rich can largely avoid paying it. This is deeply unfair. At Tax Justice UK, we’ve just published [...]
Britain breaks energy record by going coal-free for two weeks May 31, 2019 Today marks a fortnight since the UK energy industry used coal for power generation. Read more: Britain just went 10 days without burning coal for electricity It's now the longest the country has given up on coal-generated energy since the Industrial Revolution. With the introduction of the Climate Change Act in 2008, Britain had set a [...]