US recession risk spikes amid trade war and consumer spending slowdown March 10, 2019 The risk of a recession in the US has shot up thanks in large part to weak consumer demand, a report has warned. The likelihood of a fall in GDP in two successive quarters spiked to 73 per cent from just 24 per cent in December, according to a report from economists at Swiss bank UBS. A [...]
The Democrats have embraced the Trump trend of childish insults and illiterate ideas March 8, 2019 My worse fear has been realised: the 2020 presidential race is upon us. Like many readers, I’m not ready to re-board the political and emotional rollercoaster of 2016. But I cannot deny reality anymore: 2020 is in full-swing. Donald Trump has altered the tone and standards of debate in US politics. Many of his supporters [...]
Chinese exports suffer biggest drop in three years amid US-China trade war March 8, 2019 Chinese exports fell at their fastest rate in three years last month as fears grow about the world’s second largest economy. Read more: China backs Huawei's bid to sue United States The US-China trade war sent exports to a 20.7 per cent year-on-year drop, official data revealed, as imports fell 5.2 per cent. Markets reacted [...]
Euro falls as Eurozone growth forecasts slashed March 7, 2019 European Central Bank (ECB) president Mario Draghi today announced a significant downgrade in Eurozone growth predictions as he renewed a stimulus programme of cheap loans to bolster the struggling economy. The ECB predicted that Eurozone GDP would increase only 1.1 per cent in 2019, 0.7 percentage points down from its December 2018 prediction. It forecast growth of [...]
Bank of England more likely to cut interest rates after no-deal Brexit, policymaker says March 7, 2019 The Bank of England’s monetary policy committee would be more likely to cut interest rates in the event of a no-deal Brexit, according to rate-setter Silvana Tenreyro. Tenreyro’s comments adds further clues as to the direction of travel for interest rates if Britain leaves the EU without a deal. Read more: Brexit uncertainty costs UK [...]
Eurozone GDP growth falls below expectations confirming sluggish 2018 March 7, 2019 Eurozone GDP grew slightly in the final three months of last year but dropped sharply year-on-year, falling below expectations. The EU’s statistical office Eurostat confirmed that GDP grew 0.2 per cent in the fourth quarter, up from 0.1 per cent the previous quarter. Read more: Eurozone construction rebounds led by German recovery in February But [...]
Trump was brave to leave North Korea empty-handed March 7, 2019 He came he saw, he left empty-handed. For the self-proclaimed consummate deal-maker that is President Donald Trump, it would not be an understatement to say that last week’s second summit with Supreme Leader Kim Jong-un on North Korea’s prospective denuclearisation did not go quite according to plan. Trump’s gamble had been that his personal rapport with [...]
OECD slashes global growth forecasts and warns of no-deal Brexit recession March 6, 2019 Global growth predictions were slashed today as a major economic body warned that a no-deal Brexit would see Britain return to recession. The Organisation for Economic Cooperation and Development (OECD) cut predictions for the UK’s growth to 0.8 per cent in 2019 and 0.9 per cent in 2020. Read more: EU faces the biggest risks [...]
Eurozone construction sectors boosted in February by German and French recovery March 6, 2019 Construction firms in the Eurozone were boosted last month by an upturn in building activity following a slow start to the year. German firms led the way with a sharp rise in activity, while there was also a return to expansion in France, according to the widely-regarded IHS Markit purchasing managers’ index (PMI). Read more: [...]
Like the myth that the Earth is flat, the socialist conspiracy theory never dies March 6, 2019 The idea that the Earth is flat is a rapidly growing trend on social media. The Flat Earth Society’s Twitter feed has the best part of 100,000 followers. The fact that the planet is a sphere has been known since at least the time of the ancient Greeks. The astronomer Eratosthenes demonstrated it with a simple [...]