Market Buzz
Sunday newspaper round-up: Lower growth, French election, PPI extension, Sky
The Bank of England is set to lower its growth forecasts this week after the economy faltered in the first quarter. The slowdown leaves a pre-Brexit interest rate rise looking increasingly unlikely, although inflation is already above the Bank’s 2% target and expected to rise further, the Sunday Times reported.
Friday newspaper round-up: Amazon, Elliott Advisors, Sports Direct
Amazon is to more than triple its research and development team in Cambridge working on tech innovations such as its Alexa digital assistant, delivery drones and Echo smart speaker. The US online retailer is opening a new building in the city with room for 400 experts in mathematical modelling, speech science, machine learning and “knowledge engineering”. – Guardian.
Thursday newspaper round-up: Estate agents, Transline, Brexit, Facebook
London estate agents have begun to offer free cars worth £18,000, stamp duty subsidies of £150,000, plus free iPads and Sonos sound systems to kickstart sales in the capital’s increasingly moribund property market. The once super-hot central London market has turned into a “burnt-out core” according to buying agents Garrington Property Finders, prompting developers to offer ever greater incentives to lure buyers. – Guardian.
Wednesday newspaper round-up: Food and drink exports, Apple, Jes Staley
Leaving the European Union without a trade deal in place could put up to 97% of British food and drink exports at risk, according to a House of Lords report that lays bare the agricultural industry’s overwhelming reliance on local markets. As negotiations between the EU and British government appear to take a turn for worse, concerns are growing that failure to reach an exit deal could leave many industries facing steep tariff barriers in future – something government ministers hope could be offset by opportunities in other international export markets.
Tuesday newspaper round-up: Fed, Brexit battle, car finance, Lloyds
The chances of the US Federal Reserve raising interest rates this week were put at less than 5 per cent yesterday after a key measure of inflation fell for the first time in more than 15 years. The core personal consumption expenditures price index fell by 0. 1 per cent in March compared with the previous month. The annualised rate of 1. 6 per cent fell short of the Fed’s 2 per cent target. - The Times.