Stock markets

Markets boosted by US government shutdown deal and trade war hopes – business live | Business – Business Article

Republican Senator from Alabama Richard Shelby, who says a deal to avoid another government shutdown has been reached Photograph: Jim Lo Scalzo/EPA Good morning, and welcome to our rolling coverage of the world economy, the financial market, the eurozone and business. A burst of optimism is rippling through the markets this morning, after US lawmakers reached a tentative deal to avoid another government shutdown. Overnight, Democrats and Republicans agreed a new spending package, which includes some more money to fund…

Read More

UK GDP growth report to show economy slowing ahead of Brexit – business live | Business – Business Article

4.30am EST 04:30 UK GDP report released Newsflash: The UK economy suffered a sharp slowdown in the last quarter of 2018, only expanding by 0.2%. That’s down from 0.6% in the third quarter. More to follow… 4.25am EST 04:25 There’s just time for a reminder of GDP’s weaknesses, with this brilliant speech by Robert Kennedy more than 50 years ago: 4.16am EST 04:16 Household incomes takes £1,500 hit since EU referendum Resolution, the thinktank, has a grim statistic — UK…

Read More

German recession fears grow as factory orders tumble – business live | Business – Business Article

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Concerns over the health of the German economy are mounting this morning, after Europe’s largest economy suffered another big fall in manufacturing orders. Germany factory orders plunged by 1.6% in December, new figures released this morning show, due to weak demand from overseas. That’s much worse than the 0.3% rise which economists had expected, and follows a 0.2% decline in November.…

Read More

UK economy slumps into stagnation as Brexit uncertainty hits demand – business live | Business – Business Article

“Service sector growth ground almost to a halt in January, matching similar disappointing news in the manufacturing and construction sectors. The last three months have seen the economy slip into its weakest growth spell for six years, and indicate that GDP likely stagnated at the start of 2019 after eking out modest growth of just 0.1% in the fourth quarter. “With the exception of July 2016, when demand contracted briefly following the surprise Brexit vote, service providers suffered the largest…

Read More

Brexit angst drags UK construction growth down to 10-month low – business live | Business – Business Article

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Sony’s slogan, “Be Moved”, is inspired by the emotional impact of technology, and the power of smartphones, gaming devices, cameras and speakers. Unfortunately, the only thing being moved right now is Sony’s share price, which is tumbling after the electronics giant became the latest tech company to warn that conditions are deteriorating. Sony spooked investors by cutting its sales outlook for…

Read More

Italy falls into recession as eurozone economy struggles – business live | Business – Business Article

The Italian economy slipped into recession in the final three months of the year, weighing on the wider eurozone’s growth, official figures showed Thursday. The Italian statistics agency said that Italy, the third-largest economy in the 19-country eurozone, contracted by a quarterly rate of 0.2% in the fourth quarter. Following a 0.1% drop in GDP in the previous three-month period, that means Italy is in a technical recession, defined as two straight quarters of economic contraction. The Italian economy has…

Read More

UK consumers shun credit cards as Brexit looms – business live | Business – Business Article

French riot police clash with Yellow Vests protesters at the Place de la Bastille Photograph: Alfred Photos/SIPA/REX/Shutterstock Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. With gloom gathering over Europe, France has given the eurozone a much-needed boost by beating growth forecasts for the last quarter. French GDP expanded by 0.3% during October-December, new figures show, crushing fears that growth could have fallen to just 0.1%. That matches France’s…

Read More

Huawei charges reignite trade war fears; Brexit hits Hargreaves Lansdown – business live | Business – Business Article

Acting Attorney General Matthew Whitaker announcing indictments against China’s Huawei Technologies Co Ltd, several of its subsidiaries and its chief financial officer Meng Wanzhou last night Photograph: Joshua Roberts/Reuters Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Hopes of a breakthrough in the US-China trade talks have taken a resounding knock, after American authorities hit technology firm Huawei with a string of criminal charges. The US Justice Department has…

Read More