economy

US adds more jobs than expected

The number of non-farm jobs added in February in the US  was 235,000, smashing expectations of a 190,000 increase. The figure for January was also revised up to 238,000 from 227,000. The US jobless rate fell to 4.7 percent from 4.8 percent, as expected. Analysts have said that the better than expected jobs figures will […]

UK budget business unfriendly

Britain’s finance minster, Chancellor of the Excehquer Philip Hammond, has announced a number of changes in the Spring Statement on March 8 that will have a significant impact on investors. In once example, the tax-free dividend allowance will fall from £5,000 to £2,000 a year from April 2018, with Mr Hammond arguing that the greatest beneficiaries of […]

German factory orders fall off cliff

Germany’s manufacturing sector has suffered a surprisingly sharp fall in orders, raising concerns that its economy may not be as robust as thought, the UK’s Guardian reports. Orders for German factory goods plunged by 7.4% in January, compared to December. That’s much worse than the 2.5% drop which analysts expected. The dropoff appears to have […]

More Irish billionaires than ever

The combined wealth of Ireland’s richest 300 individuals and families reached €77 billion last year. The total riches of the top 250 are now greater than at any time in history, beating the previous year, which exceeded the peak of the Celtic tiger era. The Sunday Times Rich List, which has measured Irish wealth annually […]

Parliament considers Brexit jobs crisis

As the hard truth starts to set over the dangers to the UK economy of losing hundreds of thousands of EU workers, a parliamentary committe has been hearing evidence from experts. London would “grind to a halt” without a continued flow of both high and low-skilled labour allowed into the country, said Colin Stanbridge chief […]

HSBC profit worse than expected

HSBC has reported a $7.1bn (£5.7bn) pre-tax profit for 2016, down 62% on the $18.9bn reported a year earlier. HSBC attributed the fall to a string of one-off charges, including the sale of its operations in Brazil. HSBC said its performance had been “broadly satisfactory” given “volatile financial conditions” but warned a rise in global […]

Soros backed Goldman Sachs, B of A

Soros Fund Management, the firm that invests the personal fortune of billionaire investor and philanthropist George Soros, took a handful of new positions in financial stocks during the fourth quarter as the sector was buoyed by Donald Trump’s presidential victory. The New York-based firm disclosed a $14.9m position in Goldman Sachs and made a new bet […]

‘Avoid UK investments’ – top consultancy

Europe’s largest management consultancy has warned against investing in Britain. In an interview with The Times, Charles-Edouard Bouée, the chief executive of Roland Berger, which is Europe’s largest management consultancy and competes with the likes of McKinsey and Bain & Co, said that businesses are still underestimating the complexity of Brexit negotiations. “We’re advising our […]

Short of cash, Indians go digital

Mobile and digital payments will overtake physical card payments as the predominant non-cash payment mode in India in 2017, driven by demonetisation, according to a report by Deloitte India, titled ‘Technology, Media and Telecommunications (TMT) Predictions 2017’. “Demonetisation has forced a behavioural change in the Indian consumer. While FinTechs used the ‘carrot’ approach to entice […]

Darker prospects for post-EU UK

Britain’s departure from the European Union could cause output losses of as much as 9.5 per cent, according to new research. Calculations using models that incorporate productivity measures show a negative impact on gross domestic product per capita of almost four times that of previous estimates, according to John Van Reenen, a professor of applied […]