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Relax, the UK (probably) isnt heading for recession

Immediate fears of a recession in the UK economy were eased last week with the latest Office for National Statistics (ONS) estimate of monthly GDP. The economy had shrunk in April, but growth resumed in May. This has not prevented widespread conjecture that a recession is imminent. The
Money

DEBATE: Was Sadiq Khan right to reject plans for the Tulip tower?

Was Sadiq Khan right to reject plans for the Tulip tower? Caroline Pidgeon, a Liberal Democrat member of the London Assembly, says YES. I seriously disagree with Sadiq Khan on many subjects, but on this issue I think he is right. Innovative and challenging designs of buildings are of course important, but we should never forget that the London skyline is something that
Money

Wells Fargo outperforms estimates as profits climb

Wall Street banking giant Wells Fargo reported a rise in quarterly profits this afternoon, comfortably beating expectations as it presses ahead with a major cost-cutting overhaul. The lender posted earnings per share of $1.30 during the second quarter of 2019, rising from $0.98 per share a year ago and beating $1.15 per share Refinitiv estimates. Read more: Goldman beat
Money

Ursula von der Leyen says EU is open to another Brexit delay

Germanys Ursula von der Leyen addressed the European Parliament today, saying she would be ready to grant a further Brexit delay beyond 31 October. Read more: Sterling sinks to two-year low as no-deal Brexit risk jumps Von der Leyen is set to become the new president of the European Commission, a role currently held by Jean-Claude Juncker. “I stand ready for a further
Money

US retail sales beat expectations as economy blows hot and cold

US retail sales beat economists expectations in June, official figures showed today, as the economy continues to send mixed signals to policymakers at the Federal Reserve. Read more: Dollar falls as US economy adds just 75,000 jobs in May and wage growth slows American shoppers bought 0.4 per cent more goods in June than they did in May, according to the US Census
Money

Trump doubles down on xenophobic tweets

US President Donald Trump has doubled down on tweets he sent over the weekend, telling four US congresswomen of colour to leave the US if they are “not happy here”. Trumps comments came today even as the House of Representatives prepared to vote on a resolution to condemn the Presidents tweets. Read more: Theresa May slams Donald Trumps go back home remarks as
Money

Tory mayoral hopeful Shaun Bailey calls for pause on HS2

Tory mayoral hopeful Shaun Bailey has said High Speed Two (HS2) should be “paused” and investment redirected to the north as the projects future hangs in the balance. Bailey called HS2, the £56bn railway that will connect London to the north via Birmingham, an “overpriced scheme based on outdated technology” that was “crowding out the investment we need”. Read more:
Money

Trumps tax cuts spurred an economic bonanza – the UK must follow suit

The most recent economic growth stats show that we are getting richer at the rate of 1.8 per cent a year. Solid enough, and ahead of the Eurozone, Japan and Canada. But the US is more robust, with annual GDP up 3.2 per cent. Why are the Americans doing better than us? It seems rather likely that tax cuts have had something to do with it. The Tax Cuts and Jobs Act of
Money

Liberalism is not dead, but it is far sicker than you realise

When my colleague and I published a book entitled “The Death of Liberal Democracy?” in August 2016, many friends were shocked that we would dream up such a title. It was near sacrilegious. A couple of weeks back, in an interview with the Financial Times, Vladimir Putin declared liberalism obsolete. A torrent of outraged commentary flooded every corner of the press, the