Week Ending 13th July 2018 Stocks edged higher, while Treasuries advanced as an ongoing pause in trade tensions outweighed a mixed start to earnings season. The S&P 500 Index rose for a second week, breaking through the key 2,800 level for the first time since March. Big banks opened earnings with mixed results, while AT&T […]

China’s monthly trade surplus with the US hit a record high of nearly $29bn (£22bn) in June as exports to America remained strong. The figures come a week after the trade war between the two began, with the US imposing tariffs on $34bn of Chinese goods, and China retaliating. This week, Washington threatened to impose […]

US employers added a higher-than-expected 213,000 jobs last month, extending the US economy’s long-running growth streak. The manufacturing sector helped power the gains, adding 36,000 jobs, but the retail sector shed 22,000 positions. The unemployment rate ticked up to 4% from 3.8%, as the strong labour market encouraged more people to look for work. However, […]

The UK’s economic growth has been revised up for the first quarter of the year after construction data was found to be stronger than earlier estimates. Growth for the three months to March was 0.2%, the Office for National Statistics said, a surprise upgrade from the earlier estimate of 0.1%. The pound jumped as speculation […]

The 35 largest banks operating in the US have enough money on hand to withstand a severe financial crisis despite rising levels of credit card debt. That was the finding of the annual “stress tests” conducted by the US central bank, the Federal Reserve. The US introduced the tests after the financial crisis to monitor […]

US President Donald Trump is to impose 25% tariffs on $50bn worth of Chinese goods, accusing Beijing of intellectual copyright theft. Tariffs that affect more than 800 products worth $34bn in annual trade are due to come into effect on 6 July. The White House said it would consult on tariffs on the other $16bn […]

US jobs growth was faster than expected in May, as employers added 223,000 positions. The unemployment rate fell further to 3.8%, having fallen to 3.9% the previous month, bringing the rate to an 18-year low. The average hourly pay of private sector workers increased 2.7% year-on-year, compared with 2.6% in April. Surveys of economists had […]

The Bank of England said the UK economy has hit a “temporary soft patch” as it kept interest rates on hold at 0.5%. The Bank cut its growth forecast for the year to 1.4%, down from the forecast of 1.8% made in February. The Bank says that cut is almost entirely due to the disruption […]

US job growth slowed sharply in March, as employers added 103,000 positions over the month. The figure was lower than expected, and left the unemployment rate unchanged at 4.1%. Analysts said the cold weather may have contributed to the slowdown, which was anticipated to some degree after February’s blockbuster gains. The low unemployment rate may […]

Asian shares have been hit by fears that US President Donald Trump’s plan for tariffs on up to $60bn of Chinese products could trigger a trade war. Japan’s Nikkei 225 index fell 4.5% and the Shanghai Composite fell 3.6%. China responded to news of the planned tariffs by saying that while it did not want […]