Airline shares under pressure after surprise Lufthansa profit warning – business live | Business

Wednesday could well mark the start of a new period in the global economy: a decade after the financial crisis hit, the Federal Reserve could be about to cut interest rates again. The Fed, led by Jerome Powell, has to balance a US economy that economists believe is still relatively healthy with the risks to […]

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Pound hits four-month low against the euro as no-deal Brexit risks rise – business live | Business

“The hope of a compromise and a Brexit deal that kept the UK close to the EU, even with perhaps a custom union to minimise trade disruption, seems to have now dissipated with the departure of Theresa May. With Parliament apparently against leaving without a deal, but incapable of agreeing on anything else, then the […]

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Pound falls below $1.28 as Brexit talks collapse – business live | Business

10.47am BST10:47 Labour to vote against Theresa May’s deal as talks collapse We finally have the confirmation of what everyone was expecting: talks between Labour and the Conservatives over Brexit are dead and Jeremy Corbyn’s party will vote against Theresa May’s deal. Jeremy Corbyn today said talks have gone as far as they can go […]

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Wall Street hits another record high as US spending jumps – business live

Rolling coverage of the latest economic and financial news as European businesses grow gloomier, but US growth figures cheer investors Latest: Americans run down savings as spending outstrips income Eurozone confidence dips Introduction: Asia higher after US stocks hit new record Italy cheered by S&P rating decision But Ocado falls after fire blamed on robot […]

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US economy smashes forecasts with 3.2% growth, but spending cools – business live

Rolling coverage of the latest economic and financial news, including first-quarter growth figures from America America’s economy grew by 3.2% (annualised) in last quarter Economists only expected 2.2% growth. Equivalent of 0.8% quarterly growth Inventory building and net trade boost growth But consumer spending growth weakens 2.49pm BST Donald Trump’s top economic adviser Larry Kudlow […]

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Goldman Sachs profits fall 20%; US-China trade deal hopes grow – business live | Business

The sharp rebound in equities seen this year is beginning to look a little tired and markets were little changed amidst a downbeat set of forecasts from the IMF. While the IMF cuts its global growth forecast for 2019 and warned of downside risks, it is still projecting but with little conviction some recovery in […]

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Growth fears weigh on markets; City demands Brexit progress – business live | Business

The foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. Photograph: Ahn Young-joon/AP Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Growth worries are weighing on the markets again today, as the International Monetary Fund warns that the global […]

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UK construction activity drops as Brexit spooks clients – business live | Business

9.43am BST09:43 British builders have been stockpiling raw materials in case of a hard Brexit, according to the PMI report. Joe Hayes, economist at IHS Markit, explains: Brexit-related uncertainty continued to generate indecisiveness, ultimately hitting order book volumes. Furthermore, strong competition for contracts was also reported by some panel members. The outlook was subsequently underwhelming […]

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UK and US housing figures fuel slowdown worries – business live

Rolling coverage of the latest economic and financial news, including weaker-than-expected housing data from Britain and America Latest: US housing starts drop UK mortgage approvals weaker than expected Brexit uncertainty is holding back demand for houses Earlier: Plumbing firm Ferguson in profits warning German consumer confidence fell this month Markets gripped by recession worries 1.36pm […]

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Stronger pound reflects City’s relief at receding no-deal Brexit | Phillip Inman | Business

The pound jumped to a fresh 10-month high on Wednesday after it became obvious that Britain will avoid crashing out of the EU without a deal. Obvious, that is, to City traders, who have always bet that a deal is the most likely outcome of the Brexit talks and now believe it to be a […]

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