Markets Economy

Markets and Economy

Wednesday market close: FTSE lifted as concerns ease over Deutsche Bank

Sainsbury’s was left languishing in the red after investors pulled out of the retail giant following a second consecutive fall in quarterly sales.

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Nicola Sturgeon delivers her speech at the IoD annual convention in London. Picture: Philip Toscano/PA Wire

Martin Flanagan: Nicola Sturgeon has few surprises for IoD

First Minister Nicola Sturgeon’s assertion that another possible referendum on Scottish independence must remain on the table in the post-Brexit vote climate of economic uncertainty will have come as little surprise to her audience at the Institute of Directors (IoD) yesterday.

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Lloyd's of London said post-Brexit trading remain a 'major issue'. Picture:: Chris Young/PA

Martin Flanagan: Brexit concerns linger on at Lloyd’s

The three-centuries‑old Lloyd’s of London insurance market has just delivered a 22 per cent rise in half-year pre-tax profits to £1.46 billion, as it continues extend its footprint in fast-growth markets worldwide.

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McDonald's staff in England claim there has been a problem with counterfeit Scottish banknotes

Leader comment: McDonald’s should end refusal of Scottish banknotes

The stereotypical Scot is canny, and not easily parted from their hard-earned cash. It’s true that most probably resent that “mean Jock” label, but what’s even more infuriating is having our money refused when we are trying to spend it.

Opinion 3
The Bank of England's FPC said the UK faces a 'challenging period' of adjustment after Brexit. Picture: Peter Macdiarmid/Getty Images

BoE warns of post-Brexit ‘uncertainty and adjustment’

The Bank of England today warned over a “challenging” outlook for financial stability in the UK as the nation faces “uncertainty and adjustment” following the Brexit vote.

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Small business confidence fell into negative territory for the first time in four years. Picture: Ian Rutherford

Confidence among small businesses turns negative

Smaller firms are increasingly worried about prospects for the UK economy even though they continue to recruit staff and enjoy greater access to finance, a new report shows.

Markets Economy 5
Chancellor Philip Hammond will deliver his Autumn Statement on 23 November. Picture: John Devlin

Government borrowing higher than expected at £10.5bn

Chancellor Philip Hammond was dealt a blow yesterday by public borrowing figures showing a £10.5 billion deficit in August – a £900 million improvement on last year but worse than City economists had expected.

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OECD chief economist Catherine Mann presents the think-tank's report at its Paris headquarters. Picture: Eric Piermont/AFP/Getty Images

Martin Flanagan: Economic cheer flatters to deceive

At first blush, yesterday’s slew of economic news was upbeat.

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A Bank of England report found investment had fallen. Picture: PA

Think-tank ups forecast for post-Brexit growth in UK

Britain’s growth forecast was raised yesterday by the Organisation for Economic Co-operation and Development months after it warned the UK would be hit by an immediate shock following the vote to leave the European Union.

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Employers said construction roles were tough to fill amid a shortage of skilled workers. Picture: Cate Gillon/Getty Images

‘Positive trends’ in jobs market since EU vote

One in four employers are planning to hire staff in the coming months despite a slump in business confidence, new research shows.

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Lloyds Bank said uncertainty following the Brexit vote was 'likely to continue for the foreseeable future'. Picture: Scott Louden

Business confidence at four-year low after Brexit vote

Business confidence has been dragged to a four-year low amid rising concerns over economic uncertainty and a slowdown in demand following the EU referendum result.

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Kim McAllister interviews Ian Laidlaw, chief executive of Peterhead Harbour. She joined a growing number of Scots by becoming self-employed in 2010. Picture: Contributed

Growing number of Scots workers choosing self-employment

IT’S the dream of many frustrated office staff. But a growing number of Scots are taking the plunge by becoming their own boss.

Markets Economy
The BoE said a further cut to interest rates could come this year. Picture: Gareth Fuller/PA Wire

BoE holds rates but hints at further cut this year

The Bank of England’s monetary policy committee (MPC) today left interest rates on hold at their record low of 0.25 per cent but said a further cut could come later this year.

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Destination incentive: Natural Retreats expects Lews Castle on the Isle of Lewis to be popular with corporate clients. Picture: Contributed

Scotland thrives on business visitors

Competition in the meetings, incentives, conferences and events (MICE) industry is tough with around 200 destinations worldwide bidding for big business.

Markets Economy
Rising inflation will put pressure on the BoE to lift interest rates. Picture: Gareth Fuller/PA Wire

Martin Flanagan: Inflation paves way for further rate cut

If the Bank of England needed a plausible peg for an additional cut to post-Brexit interest rates, the static inflation figure for August fits the bill.

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Rising food prices and air fares pushed up inflation last month. Picture: Phil Wilkinson

Inflation stays at 0.6% despite rising food prices

Inflation trod water at 0.6 per cent last month, official data showed yesterday, with City economists saying it paved the way for the Bank of England to possibly cut interest rates further to nearer zero per cent.

Markets Economy 2
The conference will hear how firms can build their profits and productivity. Picture: Lisa Ferguson

Construction sector gathers to tackle productivity

More than 400 key figures from Scotland’s construction industry will gather today to tackle hot topics such as productivity, innovation, procurement and digitisation.

Markets Economy
Minouche Shafik is leaving the Bank of England to become director of the London School of Economics. Picture: Philip Toscano/PA Wire

Minouche Shafik quits MPC for London School of Economics

The Bank of England (BoE) has announced that a key member of its monetary policy committee (MPC) is stepping down at the end of February to become director of the London School of Economics (LSE).

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Nick Laird: Economy still faces headwinds.

Scotland’s private sector shrank again last month

Scotland’s private sector shrank for the second successive month in August, with output and new orders falling across the combined manufacturing and services sectors, a new survey reveals today.

Markets Economy
Nobody can predict the impact of Brexit on property values, says Richard Morris. Picture: Andrew Milligan/PA Wire

Between the lines: Flexibility is key to Brexit survival

The EU referendum Leave decision has left British business in a state of flux. As the political wrangling continues it is clear that the definitive economic and trading picture will not emerge quickly. Formally leaving the European Union will take two years from the moment Article 50 is invoked but analysts have no concrete timeline as to when that process might begin.

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