Economy

What the general election result means for the UK economy, according to three economists: how it will affect jobs, Brexit and growth

The Conservatives’ large majority will give the economy some much-needed breathing space over the next six months. Business confidence should recover, now that a no-deal Brexit isn’t a risk in January 2020 and the outlook for domestic policy over the next five years is relatively clear. Many firms will be able to invest, knowing that corporation tax likely won’t rise, ...

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We just got a stark warning that the US economy is slowing as trade tensions persist

economy is still taking hits from the US-China trade war. Overall sales increased 0.2% last month, according to the Commerce Department, falling under the 0.5% consensus estimate from economists surveyed by Bloomberg. The metric was dragged lower by declines in the apparel and restaurant industries, hinting at weakening consumer spending trends as the year comes to a close. October’s figure ...

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Finance ministry unveils detailed presentation on steps taken to boost economy

Chief Economic Advisor Krishnamurthy Subramanian on Friday said the government is focusing on increasing consumption to boost economic growth. Presenting steps taken by the government in the past few months to pull the economy out from a six-year low growth, he said the measures include corporate tax cuts to improve risk-return of companies. Here’s a list of all measure announcements ...

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Latitude Financial’s debut on the ASX cancelled again

Latitude Financial’s eagerly awaited debut on the ASX has been pulled for the second time in just over a year. It was meant to be the biggest Australian initial public offering (IPO) of the year, but those plans have been shelved by Latitude’s owners — US private equity firm KKR, Deutche Bank and Varde Partners. The KKR consortium decided to ...

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A Pulse on Freight Signals U.S. Economic Contraction by Year-End

One vital sign of the American economy is pointing toward growth turning negative by the end of the year. The Cass Freight Index, a monthly measure of rail, trucking and airfreight volume, dropped 3% in August from a year earlier, the ninth consecutive month of declines. The figures released Friday blamed tariffs for stalling trade. The numbers and the analysis ...

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Federal Reserve to Return to Stimulus Pump: Global Economy Week

The Federal Reserve is poised to cut interest rates again this week and may still not be done delivering monetary stimulus. Having already reduced their benchmark in July to 2.0%-2.25%, Chairman Jerome Powell and colleagues will lop off another 25 basis points on Wednesday to support the slowing economy, according to a Bloomberg survey of economists. Among the key questions ...

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Saudi Oil Attack Is Unlikely to Dent U.S. Economy

The latest drone strikes on Saudi Arabian oil-production facilities likely would have a limited direct effect on the U.S. economy, but could result in higher gas prices, potentially exerting an additional drag on slowing global growth, economists say. While the total impact of the Saturday attacks remains unknown, analysts say the U.S. economy is very different than it was in ...

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We’re relying on a government that spurns economic advice

I’m starting to wonder if the trouble with our politicians is that they’ve evolved to do politics but not economics, making them unfit to cope with the economic threats we now face. On the one hand, they’ve been able to leave the management of the economy to the independent Reserve Bank, whose tinkering with interest rates – up a bit, ...

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Trump downplays talk of a recession after his economic advisers say growing fears are unfounded

President Donald Trump said he is “prepared for everything” but that “most economists” don’t think a recession is on the horizon as growing fears of a slowdown persist. “We are doing tremendously well,” the President told reporters on a tarmac in New Jersey before boarding Air Force One to return to Washington. “Consumers are rich, tax cut loaded up with ...

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