China’s May industrial output growth cools to 17-year low as trade war escalates

China's economy flashed more warning signs in May as the United States ramped up trade pressure, with industrial output growth unexpectedly slowing to a more than 17-year low and investment cooling, underlining a need for more stimulus. Despite a slew of support measures since last year, China's economy is still struggling to get back on firmer footing, and investors fear a longer and costlier trade war between the world's two largest economies could trigger a global recession. Industrial output grew...

Workers name the top 50 things they miss about the past

One-hour lunch breaks, working nine to five and a simple tea round are among the things office workers miss about the past, according to a study. The research of 2,000 office workers aged 40 and over revealed the extent to which things have changed over the years, with six in 10 saying work was ‘easier’ in previous decades. Being able to leave work on time without feeling guilty, wearing a suit or set uniform and shutting emails down at the...

Tesco warns October Brexit much more problematic than March

Tesco, Britain's biggest retailer, has warned that getting ready for a possible disorderly no-deal Brexit in October would be far more problematic than preparations it made for the original planned departure date in March. Britain had been due to leave the European Union on March 29, but Prime Minister Theresa May was unable to get her divorce deal ratified by parliament and the date is now set for Oct. 31. That is not good timing for Tesco as it falls...

Packager DS Smith says stocking up on spare parts ahead of Brexit

Packaging products maker DS Smith Plc said on Thursday that it had made plans for contingency stocking of spare parts as it readies for Britain's planned exit from the European Union, but expected disruption to its operations to be "relatively contained". The company, which makes corrugated cardboard, recycled paper and plastic packaging, posted a 31% rise in full-year adjusted pretax profit, but said box volumes growth slowed due to previously flagged weakness in certain export markets during the second half...

Banking scandal – Watchdog defends not sanctioning RBS

Britain's financial watchdog has defended its controversial decision not to sanction lender RBS or its former executives for past mistreatment of small business customers. The Financial Conduct Authority said it was sticking by its decision not to apply penalties for actions of RBS's former turnaround unit, the Global Restructuring Group. "Our investigation has found that GRG clearly fell short of the high standards its clients expected but it was largely unregulated and so our powers to take action in such...

Volatile U.S. politics gives euro’s global use a boost – ECB

The global use of the euro currency surged from record lows last year, mostly on a flight from the dollar due to the volatility of American politics and concerns about rising U.S. interest rates, the European Central Bank said on Thursday. Demand for the euro, the world's second most widely used currency after the dollar, fell to historic lows over the past decade. Its rebound suggests both concerns about U.S. politics and growing confidence about the future of the euro...

UK businesses can be successful after Brexit, says Prince Andrew

Prince Andrew, the second son of Queen Elizabeth, said on Wednesday he saw no reason why British businesses could not survive Brexit and the recent visit of President Donald Trump had shown him the issue would also not effect U.S. relations. The royal family is expected to remain neutral on political matters and has mostly avoided making any reference to Brexit, although the 93-year-old queen issued a delicately coded message to lawmakers in January, urging them to seek common ground....

The average workers wastes 15 weeks a year carrying out pointless tasks

The average employee reckons they waste almost 15 weeks a year - carrying out “pointless” tasks at work, according to research. The study of 2,000 workers found typically 142 minutes a day - more than two hours - are spent doing admin, paperwork and attending meetings when they could be getting on with more important jobs. That equates to a staggering 76 working days across a 48 week year, assuming workers take four weeks annual leave. It also emerged at...

Brexit: Alarming contraction of UK economy

The UK economy took a huge knock in April as Brexit rumbles on. It contracted by 0.4 per cent compared to the month before, marking its biggest monthly fall since March 2016. It follows a decline of 0.1 per cent in March 2019. Industrial production declined by 2.7 per cent during April, with manufacturing shrinking by an alarming 3.9 per cent. This appears to be due to UK car plants shutting down in April, as manufacturers prepared for a no-deal...

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