Post brexit uk economy

- A + A LONDON (June 23): Britain's economy is showing signs of stalling as high inflation hits new orders and businesses report levels of concern that normally signal a recession, a closely watched industry survey showed on Thursday. S&P Global's Purchasing Managers' Index (PMI), covering services and manufacturing firms, also showed companies raising pay and passing higher costs on to clients, a worry for the Bank of England. The PMI's preliminary composite index held at 53.1 in June, above the median forecast of 52.6 in a Reuters poll of economists and unchanged from May. But the PMI's measure of new orders effectively stagnated as it fell to 50.8, the lowest in over a year. Factory orders dipped below the 50.0 growth threshold to 49.6. "The economy is starting to look like it is running on empty," Chris Williamson, chief business economist at S&P Global Market Intelligence, said. "Business confidence has now slumped to a level which has in the past … [Read more...] about UK economy ‘running on empty’ as recession signals mount — PMI

Copper or Doctor Copper as market analysts refer to it due to its reputation of having a “Ph.D. in economics” because of its ability to predict the direction of global economy, has tumbled significantly in the recent past and is currently trading at its 15-month low on the London Metals Exchange (LME). The past trends of copper prices and global economic growth have signified that both the copper prices and global economy move in tandem and one can predict the turning points in global economy based on the direction of global copper prices. Experts are of the opinion that the correlation between copper prices and global economic health does largely hold good, though, at times there might be some brief aberrations. “Aberrations may occur due to governments’ interventions in the form of fiscal stimulus, or the major central bankers’ trying to respond to the changing macro-economic conditions by the way of change in their monetary policies”, said Praveen Singh, AVP, Fundamental … [Read more...] about Dr Copper’s falling prices indicate more ailments on the cards for global economy

Thai Deputy PM and Minister of Commerce, Jurin Laksanawisit, met UK Minister of State for Trade Policy, Penny Mordaunt, in London yesterday to explore ways of increasing bilateral trade and committing to an ambitious trading relationship. The 2 politicians concluded business at the UK-Thailand Joint Economic and Trade Committee by signing a programme of work, including Government-to-Government and Government-to-Business activity, to advance opportunities to increase trade over the next 12-18 months. The ministers also agreed to develop an Enhanced Trade Partnership in the future. This will launch a more ambitious programme of work to increase trade in multiple sectors by undertaking trade policy cooperation, tackling trade barriers, and promoting business and trade activity. The ministers established a trade cooperation working group, to build on the work of the recently completed Joint Trade Review, by identifying and resolving barriers to trade and promoting policy and … [Read more...] about Thailand and UK sign ambitious bilateral trade deal

- A + A LONDON (June 23): Britain should avoid major, hasty reforms to make its financial sector more globally competitive following the industry's separation from the European Union by Brexit, a parliamentary report said on Thursday. The finance ministry has proposed scores of changes to rules governing capital markets, company listings and insurance to exploit independence from EU regulation and create an opportunity for Britain to innovate. Legislation is due this year. The outlook for the "resilient" financial sector "seems relatively positive", given that far fewer finance jobs than expected had moved to the EU, the House of Lords' European Affairs Committee said in its report. But committee chair Charles Hay said: "You should be a little bit wary because there's a lot still to play out in this." Britain is proposing to give regulators a secondary objective of aiding financial sector competitiveness, but Hay said the committee was asking the government to … [Read more...] about Full Brexit yet to play out on British finance, lawmakers say

Khartoum (Reuters) - An accelerated breakdown in services including water and electricity supplies has left Sudanese citizens counting the cost of political stalemate after a military takeover last October. The slide in living conditions comes after the coup triggered the suspension of billions of dollars in international funding, and at a time when the war in Ukraine has pushed the cost of key imports higher. It has fed into anti-military demonstrations held at least once a week for the past eight months, while also adding to pressure for the military and civilian groups to come to a political agreement. No prime minister has been appointed since the coup, ministers are serving in an acting capacity and mediation attempts led by the United Nations and the African Union have yet to produce results. Authorities say they are pressing on with economic reforms that a civilian-led government began under International Monetary Fund (IMF) monitoring in 2020, aimed at reducing … [Read more...] about Sudan’s economy sinks as post-coup leadership searches for support

LONDON (Reuters) - The British government set out planned changes to law on Thursday that would make it easier for businesses to use temporary staff to minimise the impact of strike action. Britain's rail network was brought close to a standstill on Tuesday as 40,000 workers walked out in a dispute over pay and trade unions have warned the country faces a summer of disruption as workers struggling with the mounting cost of living threaten industrial action. Rail workers are set to walk out again on Thursday after talks aimed at resolving the dispute broke down without an agreement on Wednesday. A third day of action is planned for Saturday. The government said it would remove restrictions on supplying skilled temporary agency workers to cover essential roles for the duration of a strike. "Once again trade unions are holding the country to ransom by grinding crucial public services and businesses to a halt. The situation we are in is not sustainable," Business Secretary … [Read more...] about UK sets out planned change to law to minimise impact of strikes

- A + A LONDON (June 24): British retail sales volumes fell by a monthly 0.5% in May and an increase in April was revised down sharply, the Office for National Statistics (ONS) said on Friday in a fresh sign of how surging inflation is hitting the economy. Economists polled by Reuters had expected a 0.7% monthly fall in retail sales in May. The ONS said it now estimated that sales volumes in April rose by 0.4% from March, a much smaller increase than the originally reported 1.4% increase. "Retail sales fell in May, driven by a decline in food sales," Heather Bovill, deputy director for surveys and economic indicators at the ONS, said. "Feedback from supermarkets suggested customers were spending less on their food shop, because of the rising cost of living." … [Read more...] about UK retail sales fell in May as cost-of-living squeeze tightens

Share to Twitter Share to Linkedin As the Omicron subvariants continue to spread, world governments and airlines are advancing towards a post-Covid aviation industry. Despite continued infections and concerns about Long Covid health implications, Covid restrictions for flights are all but over. The Covid-19 pandemic nearly destroyed the entire aviation industry. Likely, Covid is not the last dangerous pathogen to befall modern society. How can we adapt such that air travel is safe and adaptable if another pathogen comes to pass? Here we discuss the future of aviation in a post-Covid world. The National Academy of Sciences, Engineering, and Medicine’s recent report “Flying in the COVID-19 Era” once again provides a detailed assessment of airlines' current state and future in the pandemic context. The authors analyze likely upcoming challenges and how we may face them. ADVERTISEMENT Most models project air traffic volume to match pre-pandemic levels by … [Read more...] about The Future Of Aviation In A Covid And Post-Covid World

- A + A (June 25): Oil prices settled up by more than US$3 (about RM13.21) a barrel on Friday (June 24), supported by tight supply, but they notched their second weekly decline on concern that rising interest rates could push the world economy into a recession. Brent crude settled up US$3.07, or 2.8%, at US$113.12 a barrel by 12.10pm EDT (1610 GMT). US West Texas Intermediate crude settled up US$3.35, or 3.2%, at US$107.62. The US Federal Reserve (Fed) "was talking very hawkish which was undermining the oil rally, but sentiment is changing a little, especially on strong economic data," said John Kilduff, a partner at Again Capital LLC in New York. On Thursday, Fed chair Jerome Powell said the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes. A survey on Friday showed US consumer sentiment hit a record low in June even as the outlook for inflation improved slightly. Russia's invasion of Ukraine … [Read more...] about Oil settles up but posts weekly decline on recession fears

NEW YORK: Oil price s settled up by more than US$ 3 a barrel on Friday, supported by tight supply, but they notched their second weekly decline on concern that rising interest rates could push the world economy into recession. Brent crude LCOc1 settled up $3 .07 , or 2.8 %, at $113.12 a barrel by 1 2:10 p.m. EDT (1610 GMT). U.S. West Texas Intermediate (WTI) crude CLc1 s ettled up $3.35 , or 3 .2 %, at $107.62. T he U.S. Federal Reserve "was talking very hawkish which was undermining the oil rally, but sentiment is changing a little especially on strong economic data," said John Kilduff, partner at Again Capital LLC in New York. On Thursday, Fed Chair Jerome Powell said the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes. Read full story A survey on Friday showed U.S. consumer sentiment hit a record low in June even as the outlook for inflation improved slightly. Read full … [Read more...] about Oil price settles up but posts weekly decline on recession fears