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 [...]
UK services sector shrinks for first time in over two years April 3, 2019 The UK’s crucial services sector contracted in March amid widespread reports of Brexit uncertainty constraining demand, bringing to an end over two-and-a-half years of growth. Aside from a brief dip seen after the European Union referendum, the latest reading of the services purchasing managers’ index (PMI), which gives an overall view of the sector, was [...]
DEBATE: Should the audit and consultancy arms of the Big Four firms be divided, as proposed by MPs? April 3, 2019 Should the audit and consultancy arms of the Big Four firms be divided, as proposed by MPs? YES, says Rachel Reeves MP, chair of the Business, Energy and Industrial Strategy Committee. We have two major problems in the audit market today: a lack of competition and quality. The Big Four’s dominance has led to a precarious [...]
If there is something fishy about online influencers, why do we take the bait? April 3, 2019 Social media influencer, Yovana Mendoza, provided an amusing diversion from Brexit last week. The 20-something vlogger built a very lucrative personal brand around veganism. She amassed over 3m followers on YouTube and Instagram by advocating a raw vegan diet and 25-day water fasts. All seemed to be going well until a competitor observed and filmed [...]
Eurozone services sector grows faster than expected during tough time for bloc April 3, 2019 Growth in the Eurozone’s services sector beat predictions in March, with Germany, Spain and Ireland leading the pack, it was revealed today. The services purchasing managers’ index (PMI) for the single currency bloc rose to 53.3, its highest level since November 2018, and up from a score of 52.8 in February. A number above 50 [...]
Food prices increased at their fastest rate since 2013 in March April 3, 2019 The weekly supermarket shop hit bank accounts a little harder last month as food prices rose at their sharpest rate in five years in March. Food inflation accelerated last month to 2.5 per cent, up from 1.6 per cent in February. This is the highest inflation rate November 2013. The data out today from the [...]
Global trade shrinks in final quarter of 2018 as trade wars drag on global economy April 2, 2019 Global trade shrank at the end of 2018 as trade tensions and increased economic uncertainty took their toll, the World Trade Organisation (WTO) revealed today. The WTO also said that these problems will stick around, predicting in its annual forecast that world merchandise trade is likely to grow by 2.6 per cent in 2019, much [...]
IMF director says majority of countries will see growth slow in 2019 April 2, 2019 The head of the International Monetary Fund (IMF) said today that 70 per cent of countries can expect a slowdown in growth in 2019 in the latest gloomy prediction about the global economy. Read more: Escalating trade tensions to harm global growth, IMF warns Speaking in New York, Christine Lagarde suggested that the IMF would [...]
Nouriel Roubini interview (Part I): Expect a ‘synchronised slowdown’ in 2019 April 2, 2019 | City Talk When Nouriel Roubini talks, it’s worth a listen. Not known for his optimism, the well-known American economist bears the moniker ‘Dr Doom’. CFA Institute spoke to him to get his take on topics including the prospects for global growth and technologies. CFA Institute: When you spoke to us in 2015, roughly six years after the [...]
UK inflation rate highest of major advanced economies in February April 2, 2019 The UK’s annual inflation rate was the highest of the G7 countries in February, statistics released today showed, due in part to the fall in the value of the pound pushing up the cost of imported goods. Read more: Inflation edges up from two-year low as food and alcohol prices rise Britain’s inflation rate in [...]