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Economic News
17 May
Carolyn Fairbairn CBI
CBI chief: 'Every day without a Brexit deal is corrosive for UK business'

Carolyn Fairbairn, the chair of the country's largest business lobby, urged MPs to do whatever it takes to resolve the Brexit “gridlock”.

17 May
ocado snow
Ocado says fire at distribution center puts 400 jobs at risk

It will take Ocado two years to rebuild the distribution centre that was destroyed in a fire in February 2019, leaving roughly 400 jobs at risk.

17 May
US consumer sentiment hits 15-year high in May, UofM says

Americans were in much more buoyant spirits than believed in early May, although the potential impact on sentiment from the breakdown in trade talks between the US and China had yet to be seen, according to the results of a closely-followed survey.

17 May
Bank of america
BofA cuts 2020 UK GDP forecast on prolonged Brexit uncertainty, US-China trade war

Economists at Bank of America-Merrill Lynch cut their forecasts for the rate of growth in Britain's economy for this year and next, predicting that the uncertainty around Brexit will last for longer and that the US-China trade war will escalate.

17 May
Sterling under pressure as cross-party talks collapse

Sterling was under pressure on Friday, dropping below $1. 28 for the first time since February as it emerged that Brexit talks between the government and the Labour party have collapsed, increasing the risk of the UK leaving the EU without a deal.

17 May
ECB faces potential losses in Santander-LetterOne battle

The European Central Bank could face loses over the bonds it holds from Spanish company Distribuidora Internacional de Alimentacion (DIA) as LetterOne battles Santander bank to recapitalise the retailer.

17 May
Euros , banknotes, single currency, euro , eurozone money cash. Image
Eurozone inflation picks up in April

Eurozone inflation picked up in line with expectations in April, as prices rose in the services sector.

16 May
theresa may brussels april 10 2019
May promises to set out departure date in June

UK Prime Minister Theresa May on Thursday agreed to set out a plan for her departure from office after another vote on the Brexit withdrawal deal in June.

16 May
Theresa May
Pound dips as Theresa May promises to provide timeline for stepping down

Sterling is coming under renewed selling pressure after the Prime Minister took a major step on Thursday towards standing down.

16 May
ep donald trump rompeacuerdoparis
Trump declares national emergency and bans Chinese telecoms

Donald Trump declared a national emergency on Wednesday, banning Chinese telecommunications companies such as Huawei and ZTE from selling their equipment in the US as he claims they pose “unacceptable risks”.

16 May
UK High Speed 2
Lords urge re-think on controversial HS2 project

The House of Lords weighed in on the controversial HS2 high-speed rail project on Thursday, saying it would not offer value for money to the UK, and was at risk of “short changing” the North of England.

16 May
Weekly US jobless claims surprise to the downside

Perhaps the most closely-followed lead indicator of joblessness in the US surprised to the downside on Thursday.

16 May
European Commission fines five banks €1bn for market rigging

Five major banks have been fined a total of €1. 07bn by the European Commission on Thursday due to foreign exchange market-rigging that took place from 2007 to 2013.

16 May
london bridge thames
London could face worker shortages due to Brexit visa restrictions

London could suffer from the tougher post-Brexit immigration rules with the City left facing a shortage of workers, said business lobby London First.

15 May
cbtecnologianasdaq3 stocks
Don't rush to buy the dip in European cyclicals, says Barclays

Don’t rush to buy the dip in cyclical stocks, Barclays said in a European equity strategy note on Wednesday.

15 May
US industrial production extends slide in April, led by factories and utilities

Industrial output growth in the States missed forecasts by a wide margin last month as manufacturing added to a growing list of monthly declines.

15 May
factory, factories, manufacturing, manufacturer
Empire State manufacturing index hits six-month high

Manufacturing activity in the New York Fed’s jurisdiction unexpectedly improved in May, to a six-month high, according to data released on Wednesday.

15 May
Economists puzzled by unexpected dip in US retail sales for April

US retail sales dipped unexpectedly last month, amid weak outturns for those of motor vehicles and parts, electronics and building materials, leaving some economists scratching their heads given the recent strength in the closely-watched weekly retail sales surveys from Redbook.

15 May
supermarkets checkout asda inflation prices
Walmart 'seriously considering' Asda IPO

Supermarket chain Asda could be floated, staff were told on Wednesday, after the competition authorities derailed its proposed tie-up with rival J Sainsbury.

15 May
casinos gaming gambling rank group
Online casino operators slapped with £4.5m penalties by Gambling Commission

The UK Gambling Commission issued penalty charges totalling £4. 5m to four companies on Wednesday as part of an ongoing investigation into money laundering and consumer safety in online casinos.