EU trade surplus with US grows as deficit with China rises March 18, 2019 The Eurozone’s trade in goods surplus in January was half the level of a year earlier, slipping to €1.5bn from €3bn, the latest figures have revealed. Meanwhile the European Union’s goods trade surplus with the US rose in January while its deficit with China increased, in news likely to anger US President Donald Trump. Read more: [...]
UK statistics body to start using new, quicker indicators March 18, 2019 The UK’s main statistical body will move to new, faster economic indicators to keep up with demand from policymakers and analysts and to compete with other services, it said today. Read more: UK economy rebounds in January after December slump The Office for National Statistics (ONS) announced today that from mid-April it would use new [...]
Raghuram Rajan: The central banker trying to save globalisation from itself March 18, 2019 Political and economic debate generally divides around two pillars: markets and state. Free-marketeers see a world where, when people are free to buy and sell according to the laws of supply and demand, business competition naturally drives quality up and prices down, resulting in prosperity and productivity for all. At the other end of the [...]
UK export growth nearly slips into contraction due to Brexit and wider economic slowdown March 18, 2019 UK export growth almost slipped into contraction in the first quarter of this year due to Brexit concerns and a global economic slowdown. German export growth also slowed, falling for the fifth consecutive quarter, due to weaker car sales, according to a survey by accountancy firm BDO. Read more: German export confidence slides as last [...]
House prices fall in London as buyers await Brexit resolution March 18, 2019 London house prices fell in March as Brexit uncertainty held back the usual spring bounce, and are down almost four per cent year on year, a new report has said. The number of sales agreed by estate agents in February was also nearly 10 per cent lower in the capital than a year before, property [...]
Investment to hit lowest rate since financial crisis, UK business body warns March 18, 2019 Business investment in the UK will decline by one per cent in 2019 amid further Brexit uncertainty, making it the worst year since the financial crisis, the British Chamber of Commerce (BCC) has today predicted. Economic growth in 2019 will be just 1.2 per cent, the BCC, the national body of 53 chambers of commerce, also [...]
Small UK businesses remain confident despite uncertain outlook March 18, 2019 Three-quarters of Britain’s small and medium-sized businesses are confident about their growth prospects over the next 12 months despite tough political and economic conditions, according to new research. Read more: UK economy rebounds in January after December slump Almost 40 per cent describe themselves as “very optimistic”, with 70 per cent of small and medium-sized [...]
London hosts bulk of Britain’s £100bn of secretly owned property March 17, 2019 Over 87,000 properties in England and Wales are owned anonymously through companies registered in tax havens, it has been revealed today. Together, these properties are worth at least £56bn, according to Land Registry data, and likely worth more than £100bn when accounting for inflation, according to new analysis by anti-corruption organisation Global Witness. Read more: [...]
The Brexit unknown: how the votes moved markets – and what next March 15, 2019 | City Talk British politics has faced a turbulent week: three nights of Brexit votes, a Spring Statement and a downgrade to economic growth. Market prices have swung on each twist as investors attempt to digest a constantly shifting set of possible outcomes. The single constant factor is uncertainty. With the scheduled exit date of 29 March looming, [...]
Trading on WTO terms would be no panacea for global Britain March 15, 2019 Despite the series of votes this week, a no-deal Brexit remains a real possibility. In fact, it is still the legal default unless a deal is struck or the EU agrees to extend Article 50. Many Brexiteers – 308 MPs, in fact – appear to think that this is the best Brexit option. Their assumption [...]