Economic News

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  • China manufacturing continues rebound in September

    China's manufacturing sector has also been supported by a rise in the property market

  • Drop in U.S. consumer spending clouds Fed rate hike outlook Reuters - UK Focus - Fri, Sep 30, 2016 15:46 BST

    U.S. consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates. The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic …

  • UK growth revised higher to 0.7% for second quarter Sky News - Fri, Sep 30, 2016 14:32 BST
    UK growth revised higher to 0.7% for second quarter

    UK growth for the second quarter has been revised up from 0.6% to 0.7%, official figures show.

  • UK service firms defy Brexit, put BoE on spot over rates Reuters - UK Focus - Fri, Sep 30, 2016 10:58 BST

    Britain's giant services sector grew strongly in July, according to official data giving the clearest sign to date that the economy did not slump immediately into a major slowdown after the country's vote in June to leave the EU. The Office for National Statistics also said economic growth was stronger than it previously …

  • The rate of inflation in the euro zone doubled in September, preliminary figures show, but unemployment remained high in the region.

  • UK second quarter growth revised upwards to 0.7% on strong service sector data International Business Times - Fri, Sep 30, 2016 09:57 BST
    UK second quarter growth revised upwards to 0.7% on strong service sector data

    The UK's economic growth for the second quarter has been revised upwards by the Office for National Statistics to 0.7%, from a previous estimate of 0.6%. Ascribing reasons for the upward revision to the gross domestic product (GDP) figure published on 26 August, the ONS said service sector growth and consumer spending …

  • U.S. economy less sluggish in 2nd qtr; companies investing more Reuters - UK Focus - Thu, Sep 29, 2016 17:21 BST

    U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook. Other data released by the Commerce Department showed America's trade deficit for goods shrank in August, boding well for …

  • British outsourcing group Capita cuts profit outlook Reuters - UK Focus - Thu, Sep 29, 2016 07:18 BST

    British outsourcing group Capita cut its full-year profit outlook by as much as 13 percent on Thursday after clients delayed making decisions on projects. Capita, which employs 75,000 staff across the ...

  • Jeremy Corbyn urges Labour to 'end trench warfare' Sky News - Wed, Sep 28, 2016 19:22 BST
    Jeremy Corbyn urges Labour to 'end trench warfare'

    Jeremy Corbyn has told supporters that his party is not only about protests and campaigns but also about "winning power". Speaking at the Labour conference in Liverpool, the leader promised to deliver "the socialism of the 21st century". There have been calls from his own MPs including Andy Burnham - who announced his …

  • Poland gets 'super minister' for finance AFP - Wed, Sep 28, 2016 18:00 BST
    Poland gets 'super minister' for finance

    Polish Minister of Development Mateusz Morawiecki is named the head of a newly created government Economic Committee in charge of managing the populist administration's generous spending plans

  • Jeremy Corbyn urges Labour to 'end trench welfare' Sky News - Wed, Sep 28, 2016 17:10 BST
    Jeremy Corbyn urges Labour to 'end trench warfare'

    Jeremy Corbyn has told supporters that his party is not only about protests and campaigns but also about "winning power". There have been calls from his own MPs (BSE: MPSLTD.BO - news) including Andy Burnham - who announced his resignation as shadow home secretary - to respond to the concerns of some British people in …

  • ECB President Mario Draghi appeared in Berlin on Wednesday to defend the institution from some of its sternest critics — German lawmakers.

  • Rise in number of households classed as 'homeless'

    Tory MPs have told Theresa May that tackling homelessness will be a key test of her commitment to social justice after official figures showed it had risen to its highest level for nearly a decade.

  • Jeremy Corbyn insists it's 'about winning power' Sky News - Wed, Sep 28, 2016 16:16 BST
    Jeremy Corbyn urges Labour to 'end trench welfare'

    Jeremy Corbyn has told supporters his party is not only about protests and campaigns but also about "winning power". Speaking at the Labour conference in Liverpool, he promised to deliver "the socialism of the 21st century" under his leadership. There have been calls from MPs including Andy Burnham - who announced his …

  • Jeremy Corbyn heading for clash with Labour MPs over immigration

    Jeremy Corbyn is heading for a new clash with Labour MPs by rejecting calls to back post-Brexit curbs on immigration. Ahead of his end-of-conference speech in Liverpool, which is imminent , the Labour leader said restricting free movement could mean Britons paying the price in tit-for-tat retaliation. Mr Corbyn said …

  • Rise in number of households classed as 'homeless' PA Money News - Wed, Sep 28, 2016 13:46 BST
    Rise in number of households classed as 'homeless'

    Homelessness in England has risen to its highest level for nearly 10 years.

  • GLOBAL MARKETS-Deutsche helps lift European stocks before Yellen, Draghi Reuters - UK Focus - Wed, Sep 28, 2016 13:09 BST

    A recovery in Deutsche Bank (LSE: 0H7D.L - news) shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia and drove investors into safe-haven government bonds and the dollar. Beyond banking sector worries, markets were looking ahead to separate …

  • S&P: Brexit won't give UK exports a boost as big as Leave campaigners touted Business Insider UK Finance - Wed, Sep 28, 2016 11:30 BST
    S&P: Brexit won't give UK exports a boost as big as Leave campaigners touted

    Brexit will not give UK exports a boost as huge as many of those who backed leaving the European Union have argued since the vote, according to new research from credit ratings agency Standard and Poor's.

  • The Bank of England's top markets official said the UK economy is in the middle of a post-Brexit shock

    Minouche Shafik, the Bank of England's top markets official, said the UK is in the middle of an economic shock brought on by the vote to leave the European Union. Shafik said “there is no doubt in my mind that the UK is experiencing a sizeable economic shock in the wake of the referendum," in a speech at Bloomberg's Most …

  • FOREX-Dollar edges up from 1-month low vs yen, focus on Fed speakers Reuters - UK Focus - Wed, Sep 28, 2016 08:34 BST

    The dollar rose against the yen and a basket of currencies on Wednesday, with focus shifting to the Federal Reserve chair Janet Yellen's testimony later in the day. Yellen will give her semi-annual testimony before a Congressional committee, and while it is set to be focused on financial regulation, traders said she is …

  • Italy slashes growth forecasts AFP - Wed, Sep 28, 2016 00:42 BST
    Referendum fears for EU as Italy slashes growth figures

    Italy's Prime Minister Matteo Renzi said Italy's budget deficit would fall to 2.4 percent of GDP this year, from 2.6 percent in 2015, and a maximum of 2.0 percent next year

  • A flurry of Fed speakers, including the Fed chair, will keep markets busy Wednesday.

  • Brazil economy 'poised' for return to growth: US treasury chief

    Brazilian president Michel Temer talks to the press after a meeting in New York with US investors, organized by the Council of the Americas

  • Fact-checking the debate on taxes, economy CNBC - Tue, Sep 27, 2016 17:27 BST

    Clinton and Trump's debate on taxes, trade and the economy was often acrimonious ... if not always factual. Here are the highlights.

  • Europe is at risk of disintegration and this could come at great human cost, Greece’s fiery former finance minister warned on Tuesday.

  • Report: The EU never held Britain’s economy back Business Insider UK Finance - Tue, Sep 27, 2016 10:11 BST
    Report: The EU never held Britain’s economy back

    Britain's economy is sluggish and unproductive, and will worsen with Brexit, according to a report from the Centre for European Reform (CER). The report, authored by Simon Tilford, disputes claims made by those campaigning to leave the European Union that Britain's economy was "dynamic and flexible," and had "little to …

  • Asia growth holds stable thanks to China and India: ADB

    India saw a boost to private consumption after recently approved increases in wages and pensions, and a healthy monsoon is likely to lift rural incomes, according to the Asian Development Bank

  • Developing Asia will have to fork out $300 billion per year to uphold the 2015 Paris climate goals, the Asian Development Bank warned on Tuesday.

  • Lane says ECB has to continue with current monetary policy strategies Reuters - UK Focus - Mon, Sep 26, 2016 21:45 BST

    The European Central Bank must continue with its current strategies to lift inflation, but it will of course look at tools being pursued by other central banks including Japan's, governing council member Philip Lane said on Monday. "In Europe we consider the current strategy to be working," Lane told Bloomberg TV in an …

  • Trump, Clinton advisors spar over economic plans CNBC - Mon, Sep 26, 2016 21:44 BST

    As Clinton and Trump head into their first debate, their camps are confident that their candidate's economic plan will win the day.

  • Economic imbalances risk "destabilising" euro zone: ECB's Draghi Reuters - UK Focus - Mon, Sep 26, 2016 16:38 BST

    BRUSSELS/ROME, Sept 26 (Reuters) - Economic imbalances within the euro zone risk destabilising the currency bloc, top European Central Bank officials said on Monday, stressing the responsibility of governments to help boost growth while respecting EU rules. ECB President Mario Draghi and board member Benoit Coeure also …

  • The European Union must show that it benefits people's lives, ECB President Mario Draghi said, as the bloc remains in limbo following the U.K.'s Brexit vote.

  • KEN ROGOFF: I worry about China Business Insider UK Finance - Mon, Sep 26, 2016 08:00 BST
    KEN ROGOFF: I worry about China

    Ken Rogoff, the former chief economist of the International Monetary Fund, says a Chinese economic slowdown is one of the biggest problems facing the world economy. Rogoff, now a professor at Harvard, said in an interview with the BBC published Monday: "If you want to look at a part of the world that has a debt problem, …

  • A slowdown in China is the greatest threat to the global economy, Kenneth Rogoff, a professor of economics at Harvard University, told the BBC.

  • Japan's aggressive monetary easing is reminiscent of Einstein's quip about doing the same thing over and over again and expecting a different result.

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