Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Fed interest rate cut: Will Donald Trump get what he wants? July 31, 2019 The US Federal Reserve is set to cut interest rates for the first time in 10 years this evening, with the raging trade war with China and signs of slowing momentum darkening policymakers’ moods. Yet US economic growth is stronger than its peers and unemployment is at record lows, meaning the Fed will likely plump [...]
Irish central bank: No-deal Brexit would see growth plummet July 31, 2019 The Central Bank of Ireland has warned that a no-deal Brexit could shatter the country’s economic growth and cost its economy 34,000 jobs. Read more: Boris Johnson visits Northern Ireland for talks to resolve power-sharing agreement In its quarterly bulletin the Bank said growth in a no-deal scenario would be just 0.7 per cent in [...]
Eurozone growth and inflation slow with ECB poised to act July 31, 2019 Both price inflation and economic growth in the Eurozone were shown to have slowed in figures released today, boosting the chances the European Central Bank (ECB) will deliver fresh stimulus to kickstart the region’s struggling economy. Read more: ECB prepares stimulus to kickstart stalling Eurozone economy Prices in the Eurozone grew at an annual rate [...]
Rentokil profit increase boosts shares July 31, 2019 Pest control and property care firm Rentokil’s shares have risen 4.5 per cent this morning after it posted a 12.4 per cent rise in profit in the first half of the year. Read more: Rentokil set to continue acquisition spree The figures The firm’s revenue grew by 8.5 per cent to £1.3bn in the first [...]
UK manufacturers gloomy but consumers more upbeat July 31, 2019 Optimism among UK manufacturers has fallen rapidly but British consumers have become more positive, two surveys showed today, in the latest sign of a big divide in the economy. Read more: UK mortgage approvals rise but consumer lending slows Business optimism among small and medium-sized (SME) UK manufacturers fell at its fastest pace in three [...]
Lawsuit opened over Capital One data breach which hit 100m customers July 30, 2019 A class action lawsuit has been filed in the US over a data breach at Capital One bank that saw about 100m US customers have their personal information stolen by a hacker. Read more: Equifax fined up to $700m for massive data breach Roughly 140,000 social security numbers and 80,000 linked bank details were stolen, [...]
Stock markets slide as Donald Trump lashes out at China before key meeting July 30, 2019 US President Donald Trump has fired a broadside at China ahead of the two sides’ trade negotiations, criticising its economy and saying the US has “all the cards”. Read more: ‘Faulty thought process’: Trump lashes out at Fed – again The attack has sent global stock markets sliding as the tensions between the world’s two [...]
Sterling tumbles further as PM pledges Brexit ‘no matter what’ July 30, 2019 Sterling hit its lowest level since March 2017 today as new Prime Minister Boris Johnson pledged to take Britain out of the European Union on 31 October “no matter what”. Read more: ‘Doomsday narrative’: Sterling hits 28-month low on no-deal Brexit fears The pound plunged below $1.22 to hit $1.215 this morning, a drop of [...]
MPs attack government over lack of post-Brexit investment policy July 30, 2019 MPs have strongly criticised the government for failing to prepare a policy on international investment agreements ready for Brexit, which the new administration has pledged will happen “come what may” on 31 October. Read more: Dominic Raab: Britain ‘turbo-charging’ no-deal Brexit preparations The International Trade Committee (ITC) said it was “alarmed” that ministers have not [...]
Mark Carney misses the cut for IMF top job shortlist July 30, 2019 Bank of England governor Mark Carney has failed to make it on to the shortlist of candidates to lead the International Monetary Fund (IMF), according to reports. Read more: IMF chief Christine Lagarde among surprise picks for EU top jobs Negotiations to find a European Union candidate are being led by France, which has narrowed [...]
