UK productivity falls for second consecutive quarter April 5, 2019 Labour productivity in Britain fell in the final three months of 2018 compared to a year earlier, continuing the country’s decade-long productivity slump, it was revealed today. Read more: UK services sector shrinks for first time in over two year For 2018 as a whole, labour productivity grew by just 0.5 per cent, well below [...]
Chancellor Philip Hammond says ending austerity will not mean spending splurge April 5, 2019 Chancellor Philip Hammond has fired back over criticisms of the autumn Budget, saying that ending austerity should not mean increased spending in every government department. Read more: Hammond has the cash to end austerity, IFS says Hammond today said bringing an end to austerity was “also about delivering wage growth and leaving more in people’s [...]
Greece to receive €1bn from Eurozone as part of post-bailout deal April 5, 2019 Eurozone finance ministers will give a grant of nearly €1bn (£858m) to Greece as part of long-running financial support for the southern state, officials have said. Read more: Eurozone construction growth slows as bloc faces gloomy economy Greece will receive the money after it respected its current commitments to reform, including reducing the burden of [...]
Stop unfairly demonising firms that have large gender pay gaps April 5, 2019 Bad data cannot produce good policy. This gets us to the heart of the problem with the mandated gender pay gap reporting legislation, which is now into its second year. It’s all good and well finding a hook to speak about cultural issues. And no doubt, women are still operating in an unequal world, even [...]
Permanent job appointments fall as Brexit uncertainty intensifies April 5, 2019 Permanent job appointments in the UK have declined amid continuing Brexit uncertainty, a new report revealed today. Read more: Brexit uncertainty 'has cost the UK £66bn' Political uncertainty also contributed to a further steep decline in staff availability in March compared to the previous month, the latest KPMG and Recruitment and Employment Confederation (REC) UK [...]
Brexit uncertainty has cost the UK economy £66bn, says S&P April 4, 2019 Brexit has cost the UK economy £66bn in lost growth, according to ratings agency S&P. Had the UK voted to remain in the EU in 2016s referendum the economy would have been three per cent larger by the end of 2018, the group’s report said. Read more: Brexit delay wins MPs' support by a margin [...]
Debate: Should investors panic about a US recession after the Treasury bond yield curve inverted? April 4, 2019 Should investors panic about a US recession after the Treasury bond yield curve inverted? Yes, says Michael Horan, head of trading at Pershing EMEA. The inversion has been on the cards since December last year. The yield curve represents real investors, putting real money to work, and at the moment, they are willing to accept [...]
Mark Carney warns of “alarmingly high” no-deal Brexit risk April 3, 2019 Bank of England governor Mark Carney has warned the risk of a no-deal Brexit has become “alarmingly high.” Carney also hit out at suggestions from Brexiters that the UK could leave the EU on World Trade Organisation terms and maintain zero tariffs as “absolute nonsense.” Speaking to Sky News, he said that despite parliament, the [...]
US services sector continues its trend of solid growth April 3, 2019 US services sector growth weakened in March but continued its three-year long run of expansion, data released today showed. Read more: Eurozone services sector grows faster than expected Business expectations dropped to the lowest level since December 2017, however, as firms highlighted concerns about global trade tensions, economic growth worries and intense competition. The US services business [...]
Turkish inflation stays below 20 per cent as election results remain uncertain April 3, 2019 Turkish annual inflation stayed just below 20 per cent in March, according to data posted by the country’s statistics institute today as wrangling over local elections continues. Read more: Turkish lira falls against dollar as US suspends fighter jet delivery The inflation rate increased very slightly from February but was well below the highs seen towards [...]