Week Ending 21st July 2017 U.S. stocks sank Friday and the euro climbed to its highest level against the dollar since January 2015 as investors assessed an investigat ion into U.S. President Donald Trump that may stall his economic agenda. European shares fell as the common currency’s rally weighed on carmakers and other exporters. Oil […]

The “cabinet is united” over the need for a transitional period after Britain officially leaves the European Union, Cabinet minister Michael Gove has said. He said an “implementation period” ensuring access to migrant labour and economic stability would happen. He said it must be driven by “pragmatism” but also recognise the UK’s vote to leave […]

Almost six months into Donald Trump’s presidency, Americans are feeling fairly optimistic about their jobs, the strength of the U.S. economy, and their own fortunes. That should be welcome news for the president, except for one thing: The public’s confidence largely appears to be in spite of Trump, not because of him. The latest Bloomberg […]

The UK Inflation rate drops unexpectedly to 2.6% in June, from 2.9% in May, official figures show. And the inflation figures have had an immediate impact on the pound, as markets surmise that the decline to 2.6% makes an interest rate rise less likely. Sterling immediately fell half a cent against the dollar to $1.3028. […]

US banking giant JP Morgan Chase has reported a 13% rise in second quarter profits to $7bn (£5.4bn), lifted by strong growth of loans and deposits. It was the steepest profit rise of the three big US banks that reported quarterly results on Friday. Profits at Wells Fargo increased 5% to $5.8bn, but revenue was […]

US employment rose by more than expected last month, but wage growth remained subdued, latest figures show. The economy added 222,000 jobs in June, the US Department of Labor said, and job creation in April and May was higher than previously estimated. However, despite the job gains and a low 4.4% unemployment rate, wage growth […]

India has replaced its numerous federal and state taxes with the Goods and Services Tax (GST), designed to unify the country into a single market. The historic overhaul of the existing tax legislation was carried out at a special midnight session of parliament. India says introducing GST will cut red tape and increase tax revenues, […]

The 34 largest banks in the US have money on hand to withstand a severe recession, the US central bank said on Thursday. The finding comes from an annual “stress test” conducted by the Federal Reserve. The tests were put in place after the financial crisis to strengthen financial capacity in the event of a […]

Eurozone ministers have struck a deal to unlock the latest tranche of Greece’s bailout cash. The bailout fund will disburse 8.5bn euros (£7.4bn) to Greece, eurozone ministers said in a statement. The latest tranche of the international bailout will help avert a fresh debt crisis in July when the next €7bn euro repayment of loans […]

Fears that political uncertainty will hurt consumer spending have hit shares in UK retailers and housebuilders. The prospect of a hung parliament and speculation about the election result’s impact on Brexit saw the value of sterling slide against the dollar. Although the FTSE 100 closed 1% up – boosted by companies that earn profits in […]