Leaving the European Union would deliver “a serious shock to UK economy” warns CBI

A Brexit could cost UK economy £100bn and 950,000 jobs by 2020, claims a new report commissioned by The Confederation of British Industry (CBI). CBI director-general, Carolyn Fairbairn, warned that leaving the European Union would leave negative echoes that could last many years after that. In an economics lecture at the London Business School, the […]

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Senior bankers could now face jail time for dangerous decisions

Senior managers in UK banks could now face seven years in jail or an unlimited fine if their actions cause their institution to fail. The new legislation goes live from Monday 7 March, has been described by the government “a major milestone” in its efforts to reform UK financial services. Under the new law, senior […]

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A massive 900,000 UK retail jobs could go by 2025, warns new report

The UK’s retail sector could lose up to 900,000 jobs and face thousands of shop closures over the next 10 years a new report has warned. The analysis from the British Retail Consortium (BRC) said that by 2014, 191,000 fewer people worked in retail, the UK’s largest private sector employer, than in 2008. The report […]

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Former Bank of England boss warns of another looming financial crisis

Mervyn King, who quit his role as Bank of England governor in 2013 has warned that another financial crisis is “certain”, and may come “sooner rather than later”. King, in a new book, urges that an overhaul of the monetary and banking systems may however stop another crisis happening, according to BBC News. He said […]

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UK economic growth rate confirmed at 0.5% in final three months of 2015

Official numbers have confirmed economic growth in the UK improved in the final three months of 2015, reaching 0.5%, up from 0.4% in the third quarter. The figures from the Office for National Statistics (ONS) will come as something of a relief to the government, as revisions to construction output and industrial production had raised […]

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Expert comment: “The five bond markets I’m buying right now”

JP Morgan Asset Management Global Bond Opportunities fund manager Nick Gartside believes the economy faces two main risks: a lack of growth and a lack of inflation… Growth and inflation are the enemies of bond investors, so if Gartside is correct, the economic backdrop should be broadly supportive for bond returns in 2016. But with […]

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“Keynes is the only answer now central bankers have run out of bullets”

A fund manager is urging central governments to remember John Maynard Keynes and invest in the real economy rather than pushing banks to lend even more to debt fuelled consumers and corporations. Peter Toogood, investment director, City Financial, said the current negative interest rate fad has precious little to do with economic orthodoxy and more […]

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Japan’s economy shrank in the final three months of 2015, official figures show

Japan’s economy shrank by a greater than anticipated 0.4% during the final three months of 2015, according to official numbers. This marks the second quarterly drop in output over the past year, and left activity a mere 0.5% above the level recorded a year earlier. The Bloomberg median was expecting a -0.2% drop during the […]

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US Federal Reserve suggests interest rate rise in March is unlikely

The US Federal Reserve has downplayed the possibility of another interest rate hike in March in the wake of the recent market turmoil. On Wednesday, 10 February, Fed chair Janet Yellen has asserted that while the Federal Open Market Committee might not be ready to raise interest rates for a second time in March, she […]

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India’s economy growing at a rate of 7.3% but numbers “overstate strength of economy”

India’s economy grew by 7.3% on an annual basis between October and December, faster than most had anticipated. In addition, there were also sizeable upward revisions to estimates of growth in the preceding two quarters. Growth in the second is now estimated at 7.6%, up from 7% while growth in the third quarter is now […]

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