Eurozone growth slows to four-year low due to sluggish manufacturing sector November 23, 2018 Eurozone business activity growth slumped to the lowest rate in four years, according to the latest statistics. The slowdown hit the manufacturing sector hardest, where output only rose marginally, due to subdued car sales, weakened global demand, rising political and economic uncertainty and trade wars. Service sector growth fared slightly better however growth still declined [...]
University pension scheme to carry out financial review after record walk-outs this year November 22, 2018 The Universities Superannuation Scheme (USS) pension plan has announced it will yet again review its funds after thousands of members protested having been told their benefits were too expensive. Last time the USS carried out a review, less than a year ago, it found a £7.5bn gap in its finances sparking the longest strike among [...]
FTSE 100 retailers boosted by Brexit breakthrough, but stronger sterling hurts blue chip index November 22, 2018 Retailers and housebuilders were leading the way in the FTSE 100 this afternoon following the news that the UK and EU have agreed a draft text on their future relationship after Brexit. Online delivery service Just Eat saw its share price increase by nearly four per cent, while online gambling firm GVC Holdings, Berkeley Homes, Burberry [...]
Money in your pocket: UK salaries set to increase in 2019 November 22, 2018 Workers in the UK are expected to receive a 0.8 per cent real-term salary increase in 2019, double the increase received in 2018. The average UK private sector worker will receive an extra £20 per month or £237.35 per year before tax. This follows a better-than-expected salary increase for UK workers in 2018 of 0.4 [...]
OECD: Global growth slows due to US-China trade war and political uncertainty November 21, 2018 Trade conflicts and political uncertainty have sparked a global growth slowdown, according to the Organisation for Economic Cooperation and Development's latest economic outlook. The OECD lowered its forecasts for 2019, saying global GDP would grow 3.5 per cent, down from its previous forecast of 3.7 per cent, and that growth in 2020 would remain at 3.5 [...]
Brussels moves to issue sanctions against Italy over budget failure November 21, 2018 The ongoing battle between the European Commission and Italy has deepened this morning, after Brussels said it will look at imposing a fine on the country over its failure to submit a budget proposal within EU rules. The commission said it will now open a "debt-based excessive deficit procedure" (EDP), after it ruled that Italy's revised [...]
Pub chain Marston’s raises a toast to solid profits and record revenues after a bumper World Cup summer November 21, 2018 Pub owner Marston’s annual results were boosted by England's long run in the summer's World Cup, it said today, but it will open fewer pubs next year in the face of economic uncertainty. The figures Marston's reported a four per cent year-on-year rise in profit before tax to £104m for the year ending 29 September, meeting its [...]
October deficit reaches three-year high despite Hammond’s promise to end austerity November 21, 2018 The UK recorded a much larger than predicted deficit for October, according to official data released today, the same month in which the government signalled an end to austerity measures. Public borrowing rose to £8.8bn last month, up from £7.2bn in October last year, amounting to the largest October deficit for three years, according to [...]
DEBATE: As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? November 21, 2018 As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? Michelle Ovens, director of Small Business Saturday, says YES. Black Friday started off as a day when consumers could enjoy making great purchases, but now it has just become a day for deep discounting – and that is incredibly damaging to small [...]
Life under Network Rail offers a glimpse of the future if Corbyn were left in charge November 21, 2018 The shambles that is Network Rail continues to blight our lives. Morning Wire readers may have experienced the cancellation of many services into Waterloo on Monday, due to engineering works overrunning. Even the best-laid plans can go astray. But this week was not just a one-off event. It seems to be a permanent feature of [...]