Economic News
Brexit bill becomes British law after months of debate
The House of Commons Speaker John Bercow has announced on Tuesday that the Brexit bill has become British law after months of debate.
Saudi planning to ramp-up production to record levels in July
Saudi Arabia's state-owned oil company may be set to boost output by over 800,000 barrels a day.
Trump threatens Harley-Davidson with 'big tax' if it relocates plants overseas
US President Donald Trump accused Harley-Davidson of using the recently imposed EU tariffs on automobile imports to Europe as an excuse to shift motorcycle production abroad and threatened a new tax on imports if relocation goes ahead.
UK military spending needs rise 'to maintain influence'
Former chief of defense staff Lord Gen Nick Houghton said the UK’s defense programme is unaffordable within current budgets and needs to rise if the country is to maintain its relationship with the US and its influence overseas.
Brussels amends draft conclusions to include 'evolution clause'
EU officials have adjusted their draft conclusion ahead of the council's summit on Thursday and Friday.
Bank of America gets ready to move London jobs to Paris
Bank of America is pressing ahead with moving some of its investment bank to Paris to prepare for Brexit by appointing three senior managers who will move there in 2019.
US consumer confidence dips in June, Conference Board says
US consumer confidence dipped in June as expectations for business conditions and incomes moderated.
MPC's Haskel says there may be much more slack in the economy
Jonathan Haskel displayed a fairly 'dovish' bias in his appointment hearing before the Treasury Select Committee, suggesting that there might be more slack in the economy than previously thought.
McCafferty urges BoE not to dally in making its next move
In his last scheduled speech before the end of his final term, the Monetary Policy Committee's Ian McCafferty said that the Bank of England should not dally in raising interest rates.
US house price growth eases in April
US house price growth eased back a touch in April, according to the S&P/Case-Shiller National Home Price Index.
Treasury committee calls for hedge funds to stop profiting from poll data
The chair of parliament's influential Treasury committee has called for hedge funds to stop commissioning private polls and then profiting from the market’s reaction after reports of the huge profits made from leaks about the Brexit referendum result.
Home lending driven by spike in remortgage deals
Mortgage lending rose in May as borrowers sought cheaper deals while approvals for house purchases fell as economic activity remained subdued.
Car industry calls for customs union, single market benefits
Britain’s motor industry has called on the government to keep the UK in the EU customs union and retain single market benefits as car plant output falls, jobs are lost and investment drops.
Heathrow expansion gets approval in historic Commons vote
MPs have voted overwhelmingly for a third runway at Heathrow airport in a move welcomed by business leaders and Britain’s biggest union after years of political wrangling.