Economic News
London overtaken by New York as world's top financial hub
London has been overtaken by New York at the top of a long-running ranking of the top global financial centres, with Brexit uncertainty pulling the city off the top-spot for the first time in three years.
UK to give EU information on Irish Border issue
The UK have pledged to provide data that could help reach a solution to prevent a hard border in Ireland post-Brexit, according to Bloomberg.
Jobless claims drop to lowest level since December 1969
The number of Americans filing for unemployment benefits unexpectedly dropped last week, according to data from the Labor Department.
Top European Court rules UK web-spying broke human rights rules
The UK government's system of electronic surveillance of its citizens has violated privacy and freedom of speech, the European Court of Human Rights ruled on Thursday.
US August CPI undershoots forecasts
The rate of gains in US consumer prices slowed last month, as medical commodities and services prices dipped.
ECB stands pat, focus shifts to Draghi's press conference
The European Central Bank's governing council decided to stay put on interest rates and asset purchases on Thursday, as expected by economists, and continued to signal that interest rates would remain steady at least through the summer of 2019.
Hard Brexit could bring recession, warns Moody's
The UK’s withdrawal from the European Union without a deal could damage the economy and be credit negative for a range sectors and debt issuers in the UK and Europe, possibly leading to another recession, credit agency Moody’s warned.
BoE stays put, says uncertainty around EM, trade and Brexit have increased
Rate-setters at the Old Lady on Threadneedle Street were unanimous in their decision to keep Bank Rate unchanged on Wednesday.
Turkish lira slips as Erdogan calls for interest rate drop
The Turkish lira jumped on Thursday after the country's central banked opted to raise interest rights despite President Recep Tayyip Erdogan having called for a cut earlier in the day.
May to reveal no-deal Brexit preparations as DUP backs Tory hardliners
Prime Minister Theresa May is set to hold a special three-hour cabinet meeting to discuss plans for a no-deal Brexit in the increasingly likely case that her Chequers deal is rejected as she loses support from Northern Irish allies the DUP.
Rail regulator wants more competition for ticket barriers, vending machines
The Office of Rail and Road (ORR) announced on Thursday that it would press the industry to improve competition, value and innovation in automatic ticket gates and ticket vending machines.