UK private equity deals slump as Europe hits post-crisis high

first_img UK private equity deals slump as Europe hits post-crisis high Tuesday 25 September 2018 1:05 pm Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd There were 46 buyouts of UK companies in the third quarter of this year, down on the previous three months, which was the most successful period for volume and value since 2007.Just €19bn (£17.01bn) of deals have been completed in the UK this year, which is half the 2017 total, according to figures from Unquote Data.  Over 2018 there have been 149 buyouts of UK companies by private equity (PE) houses, compared to 211 in 2017.Read more: Fund management consolidation to increase, private equity execs sayIn comparison, the total value of European private equity buyouts so far this year is €146bn, surpassing the 2017 figure of €148bn and setting a new post-crisis record.  Spain, Italy and Portugal have been the top performers and combined have achieved a record high of €23bn.Unquote’s head of data and research, Julian Longhurst, said: “The preliminary third quarter stats accurately reflect an effervescent market for PE-backed deals across Europe – especially in the upper mid-market and large-cap segments.”With so much dry powder looking for a home and plenty of leverage available from traditional lenders and credit funds alike, it looks likely that this will continue for the foreseeable future.”Longhurst added: “As far as the UK is concerned, the countdown to Brexit and the persistent uncertainty that surrounds the manner of the country’s split from the EU has done little to becalm the markets. In fact, with almost two years of contingency planning under their belts, many investors may actually be focusing more on the opportunities that Brexit is creating.”Read more: Abraaj closes London office as cost-cutting continues center_img   UK private equity deals slumped over the last three months while European buyouts hit a post-crisis high, according to new statistics.  whatsapp whatsapp Jessica Clark Tags: Brexit Private equitylast_img read more

UK house prices show modest growth for September

first_img £160,263 4.4 per cent Annual percentage change last quarter 2.1 per cent £186,414 UK house prices grew two per cent year on year for September, according to new figures released today, but London house prices declined. Overall price growth slowed in the south of England to 0.3 per cent for the three months to September, while the north – where house prices are half as expensive – saw an average drop of 1.7 per cent for the quarter.However, other areas saw homes grow in value, with Yorkshire & Humberside exhibiting 5.8 per cent annual growth and east Midlands prices up 4.8 per cent.Nationwide’s chief economist, Robert Gardner, said the low overall rate of growth demonstrated little change in the balance between supply and demand.“Looking further ahead, much will depend on how broader economic conditions evolve, especially in the labour market, but also with respect to interest rates,” he added.“Subdued economic activity and ongoing pressure on household budgets is likely to continue to exert a modest drag on housing market activity and house price growth this year, though borrowing costs are likely to remain low.” 4.8 per cent £468,544 4.1 per cent East Midlands Tags: Trading Archive £364,309 Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteableyWalmart Shoppers That Shouldn’t Be Allowed In PublicNoteableyUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndomaternityweek.comStevie Wonder’s Wife Finally Reveals Why He Went Blindmaternityweek.comUndoHouse CoastThis Is Where Chris Cuomo Lives With His PartnerHouse CoastUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoDefinitionThe 20 Worst Draft Picks Ever – Ryan Leaf Doesn’t Even Crack The Top 5DefinitionUndo 2.1 per cent -1.7 per cent East Anglia Share £125,085 UK house prices show modest growth for September 2.4 per cent 2.2 per cent -0.7 per cent 1.9 per cent £162,596 2.5 per cent Average Price (Q3 2018) Outer Met £279,858 Yorks & H’side 4.3 per cent London 0.9 per cent £228,690 3.3% 4.0 per cent -1.9 per centcenter_img £139,374 Wales whatsapp Scotland £149,161 3.1 per cent Joe Curtis 3.0 per cent Region 2.5% -0.3 per cent Outer SE Read more: These are the London boroughs set for the highest house price risesEngland had the slowest rate of annual growth at 1.4 per cent for the quarter, with Northern Ireland up 4.3 per cent, and both Scotland and Wales’ growth rates slowing, from 3.1 per cent in 2017 to 2.1 per cent for 2018 in Scotland and down slightly to 3.3 per cent in Wales.Overall Nationwide predicts UK house prices to grow by one per cent for the whole of 2018.Howard Archer, chief economic advisor to the EY Item Club, said: “We suspect that the housing market will be relatively lacklustre over the coming months – although there are varying performances across regions with the overall national picture dragged down by the poor performance in London and parts of the south east.“Consequently, we expect overall house price gains across the UK over 2018 will be limited to 2.0 per cent on the Nationwide’s measure. At this stage, we expect a rise of around 2.5 per cent in 2019.” 0.8 per cent 2.1 per cent Homes in the capital fell by less than one per cent compared to the same period of 2017, Nationwide reported today, against a fairly stable picture for the whole of the UK.Read more: Mortgage approvals hit seven-month high but caution lingersHouse prices also grew 0.3 per cent from August to September to sell for an average of £214,922.London house prices fell 0.7 per cent year-on-year to £468,544 for September and the third quarter, less steep a drop than the 1.9 per cent fall they experienced in the previous quarter, Nationwide said.Still, they are only three per cent below their early 2017 all-time high, and still 50 per cent more expensive than they were in 2007. £216,103 South west 3.0 per cent Here’s how quarterly growth looked across the UK: 4.1 per cent North West 2.1 per cent whatsapp 1.6 per cent 5.8 per cent £245,434 UK 4.3 per cent Tuesday 2 October 2018 7:32 am £190,607 £154,881 West Midlands North N Ireland Annual percentage change this quarterlast_img read more

City banker nabbed for M&A role at $320bn Qatari state fund

first_img City banker nabbed for M&A role at $320bn Qatari state fund whatsapp Tags: Trading Archive Qatar’s largest sovereign wealth fund has grabbed a top City of London banker to run its deal-related activities worldwide, as it moves to expand a $320bn (£246.6bn) portfolio that includes the single-largest stake in supermarket Sainsbury’s, Sky News reported. Sky said Ken McLaren, currently a managing director at Bank of America Merrill Lynch (BAML), will leave his post later this year to join the Qatar Investment Authority (QIA), one of the largest state-backed investment vehicles in the world.Read more: Uber nabs former Merrill Lynch CFO as top finance boss in race to go publicSince its launch in 2005 and a way to further monetise Qatar’s substantial gas reserves, the QIA has gradually expanded its global portfolio into a range of sectors.Its assets include stakes in mining group Glencore, the London Stock Exchange Group, Heathrow airport and in lender Barclays. It has held a large stake in Sainsbury’s since 2007, and has supported a merger between the company and its sector rival Asda.Read more: Government financed deal to sell military aircraft to Qatar takes off Sources told Sky that McLaren, who has held a variety of roles at BAML, would be focused on international investments.The QIA recently announced a leadership shake-up, with Mansoor bin Ebrahim Al Mahmoud taking over from Sheikh Abdullah Bin Mohammed Al Thani as its chief executive. center_img Louis Ashworth Share Tuesday 2 October 2018 4:48 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapplast_img read more

EU negotiators predict Brexit deal to be ‘very close’

first_img Share Two sources present at yesterday’s meeting suggested to Reuters good progress had been made as the EU began to engage with new British proposals on how to avoid extensive border checks in Ireland.European Council president delighted Brexiters earlier in the day as he offered a “Canada +++”-style trade deal to the UK, in which Northern Ireland would remain in the customs union and Single Market to avoid a hard border.Read more: Tusk offers UK a Canada-style trade deal in blow for May’s Brexit planToday’s news pushed sterling up to a 10-week high of 88.19p against the euro, and a five-day high against the dollar of $1.3053.One negotiator from the meeting said progress was also being made on issues other than Ireland, including on how to enforce the exit agreement and the protection of goods from special origins. Brussels negotiators for the UK’s exit from the European Union told diplomats late last night that a deal between the two sides is “very close” to being finalised. Friday 5 October 2018 10:02 am He added that chief negotiator Michel Barnier and his team may be open in principle to the UK’s proposition on an emergency Irish border fix, but that it had not yet arrived from London for careful analysis.The news comes as the DUP’s leader in Westminster Nigel Dodds reiterated warnings that the Irish party will not tolerate “tariffs, checks, or anything else between one part of the UK and the other”. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPost FunRare Photos Show Us Who Meghan Markle Really IsPost Funmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Herald whatsapp whatsapp EU negotiators predict Brexit deal to be ‘very close’ More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Emily Nicolle Tags: Brexitlast_img read more

Firms to increase investment in staff training amid UK skills gap

first_img Firms to increase investment in staff training amid UK skills gap More than four-fifths of UK firms expect to maintain or increase their investment in training their workforce over the coming years, as the number of higher-skilled roles continue to rise.Fresh figures released today by the CBI, in collaboration with Pearson, revealed the planned increase on training costs, which currently amount to around £44.2bn each year in the UK. Emily Nicolle whatsapp Tags: Company Pearson Share whatsapp “It’s disappointing to see progress stalling in this area and we advocate for a renewed focus on engagement from both sides – be this through formal apprenticeship programmes or through other means such as industry workshops, learning days, short courses or work experience.” Monday 5 November 2018 12:01 am This was in addition to two-thirds of businesses stating there could be a lack of sufficiently-skilled people to fill those vacancies in future.CBI head of education and skills policy John Cope said the results showed the scale of the challenge to address a future skills gap, but countered that “there is room for optimism”.Pointing out that the vast majority of firms plan to increase funding in staff training in response to the gap, he added: “This is the first time since 2014 that these numbers have been so positive.”However, a significant resource of talent in the form of the UK’s young people is being ignored due to a gap in what is learned at school and what is valued by employers, warned Pearson UK president Rod Bristow.“Businesses must engage with young people and open up their doors to give them an insight into the world of work and the different career paths available,” he said.“It is also vital that education becomes more attuned to the future world of work and skills and becomes more demand-driven. last_img read more

Theresa May to reopen Brexit negotiations amid backstop row

first_img Owen Bennett whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableymoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comBeach RaiderColleagues Find Woman’s Bikini Photos Inappropriate, Give Her UltimatumBeach Raider whatsapp A Labour spokesperson said: “We will put down a motion of no confidence when we judge it most likely to be successful.”The day of drama began with environment secretary Michael Gove insisting the vote was still due to be held, despite more than 100 Tories vowing to block the deal.At just after 11am, the PM’s official spokeswomen said the PM was confident she would be able to win the vote.But at 11.30am, as May held a conference call with her Cabinet, it was reported the vote was going to be pulled in the face of a large-scale rebellion.Business leaders reacted with frustration to the delay, with Stephen Martin, director general of the Institute of Directors, saying it added to the “uncertainty” around Brexit. He added: “While we wish the Government well in their attempts to seek further assurances about the backstop, the clock is ticking and one of the only things we know for certain is that our exit date has been written into UK law for next March.“The concern among businesses is clear, with two-thirds of our members saying a no-deal Brexit would be negative for their organisation.”In a packed-out Commons, May repeatedly refused to answer when the vote on the withdrawal agreement would take place, with Downing Street later confirming no date had been earmarked. Share Theresa May’s authority has suffered yet another blow as the government scrapped the planned vote on her controversial Brexit deal.In a chaotic day in Westminster, the Prime Minister pulled the vote planned for Tuesday evening after realising she was in line for a huge defeat at the hands of her own party.center_img May is set to embark on a tour of European capitals and hold meetings with EU leaders later this week in a bid to get more assurances over the controversial backstop agreement.Many MPs are opposed to the backstop as it would see the UK unable to leave the EU’s customs union without agreement from Brussels.Sterling sank to its lowest level against the dollar since April 2017 as May announced the delay, falling by almost two cents to $1.2608.Speaking in the Commons, May was clear that despite the opposition to the backstop, such a mechanism would have to be part of any deal with the EU.She instead hoped MPs could be given a greater role in when the backstop is triggered. May said: “I spoke to a number of EU leaders over the weekend, and in advance of the European council I will go to see my counterparts in other member states and the leadership of the council and the commission.“I will discuss with them the clear concerns that this House has expressed.“We are also looking closely at new ways of empowering the House of Commons to ensure that any provision for a backstop has democratic legitimacy and to enable the House to place its own obligations on the government to ensure that the backstop cannot be in place indefinitely.”In a move likely to pile even more pressure on May, European Commission president Donald Tusk tweeted while the Prime Minister was still speaking in the Commons: “We will not renegotiate the deal, including the backstop, but we are ready to discuss how to facilitate UK ratification. As time is running out, we will also discuss our preparedness for a no-deal scenario.”Despite Labour leader Jeremy Corbyn accusing the government of being in “complete disarray”, the opposition is not tabling a vote of no confidence in the government. Theresa May to reopen Brexit negotiations amid backstop row Monday 10 December 2018 5:55 pm Tags: Brexit Michael Gove People Theresa Maylast_img read more

EU chief negotiator Michel Barnier rules out time-limited Irish backstop in radio interview

first_imgThursday 24 January 2019 11:54 am Alex Daniel Michel Barnier has ruled out putting a time limit on the so-called Irish backstop as part of Britain’s revised withdrawal deal from the EU.The bloc’s chief Brexit negotiator said a time-limited backstop would defeat its purpose as a guarantee against a hard border in Ireland. “We have to maintain the credibility of this reassurance,” he said. “It cannot be time-limited… It’s not just about Ireland.”The backstop, a safety net keeping the UK in the customs union in case a deal cannot be struck so as to guard against a hard Irish border, has been at the centre of disagreements over the Brexit deal. It is unclear whether Britain would be able to strike further trade deals with other nations if the backstop were still in place.Read more: Suspend parliament if it tries to block no-deal Brexit, says Jacob Rees-MoggSome MPs have hoped Prime Minister Theresa May could win more votes for her Brexit deal among hard-Brexiteer MPs by securing a time limit on the measure. But Barnier’s comments this morning, made on Germany’s DLF radio, will go some way to scuppering such a plan.Barnier said the withdrawal agreement, which MPs voted down in record numbers last week, was the best on offer given May’s “red lines” on the negotiations, which include an end to freedom of movement and to membership of the single market. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal Pastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.combonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.com Sharecenter_img He said if Britain’s red lines changed, it would be possible to make changes to the deal.“If something changes with the red lines, then we are ready to talk about that,” he said. “We can’t make any compromises on the fundamental principles. We can’t dilute the single market or split the EU.”Read more: ‘No deal’ Brexit would lead to hard border with Ireland, confirms EUGerman Chancellor Angela Merkel is set to hold talks with Barnier in Berlin today.Barnier, who is due to meet German Chancellor Angela Merkel for talks in Berlin on Thursday, said that the commitment, seen by Dublin as an essential guarantor of peace on the island, had to be credible. EU chief negotiator Michel Barnier rules out time-limited Irish backstop in radio interview whatsapp Tags: Angela Merkel Brexit People Theresa Maylast_img read more

Fed up with bureaucracy? Might be time to reform your meetings

first_imgThursday 21 March 2019 8:20 am Fed up with bureaucracy? Might be time to reform your meetings Share While the round is in progress, everyone listens and nobody interrupts.Consent, not consensusMeetings are often the place where decisions are made. But rather than the most powerful person making every decision autocratically, focus instead on consent.Consent is not consensus – it’s not going to make everyone happy.Consent is the idea that “this proposal is safe to try”. If a decision is reversible and there isn’t too much at stake, isn’t it better to proceed and learn something, rather than waste hours debating?Ditch the theatreFinally, why not try to remove a recurring meeting from everyone’s diary and see what happens? I’ve seen teams save millions by eliminating what I call “meeting theatre” in favour of getting back to work. Every organisation is either struggling with bureaucracy or terrified of becoming one as they grow.But when companies reach a certain size, it’s not uncommon for them to have countless policies, practices, and structures in place that have accumulated over time. Of course, meetings are just one domain. As highlighted in Brave New Work, the structure of teams, the way authority is distributed, and how compensation is set are all entwined in a company’s operating system.If we make continuous, human-centric improvements, the spectre of bureaucracy can be beaten. Business leaders should think of this as an operating system. And just as a faulty operating system can wreak havoc on a mobile phone, a misguided company operating system is a recipe for all sorts of collective dysfunction.So how can companies eliminate all the red tape, replacing it with more adaptive and human ways of working?One area that causes immeasurable pain and waste is meetings.Many of us spend countless hours in meetings, yet they often yield little action. Too often, they’re dominated by the loudest voices, not the best ideas.Useless meetings are also a symptom of bureaucracy, so here are four ideas to help you streamline these sessions and upgrade your operating system.On-the-flycenter_img Good meetings have an agenda, but it’s not always practical to distribute one in advance.Instead, allow the participants to quickly create an agenda together on-the-fly at the start of the meeting. Build a list based on what is present and alive for the team right now, not last week when the meeting was called.Gain speed and focus by asking the person behind each item what they need to complete the task in hand, keeping them focused on the most efficient way to meet it. Once their need is met, move on. You’ll be amazed at how much you can do in an hour.Free-flowingAt a key moment in every meeting – such as when a decision is made – halt the free-flowing conversation and instead have everyone speak in turn.This allows everyone’s voice to be heard, which is powerful because equal talk time is one of the best predictors of team success. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OraclePost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemPets DetectiveAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongPets DetectiveDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny Aaron Dignan whatsapp whatsapp Tags: Trading Archivelast_img read more

Turkish lira rallies as ruling AK Party concedes Istanbul loss

first_img Harry Robertson The Trump administration has said it will cancel Turkey’s purchase of US fighter jets should it buy a Russian missile defence system. Turkey plans to go ahead with the Russian purchase, which could provoke US sanctions on the country as soon as July. Share Maya Senussi, senior economist for the Middle East at Oxford Economics, said: “One of the issues that we’ve been flagging as adding to the element of uncertainty was the domestic elections issue – that’s done now.” This has dragged down the Turkish lira along with uncertainty surrounding the elections and delayed economic reform. The acceptance of the Istanbul result by Erdogan’s party has calmed investors’ nerves. Turkish dollar-denominated bonds rose following the result, driving yields down. Main opposition candidate Ekre Imamoglu of the Republican People’s Party (CHP) won 54 per cent of the vote, a figure far higher than he originally received in March. Read more: Turkish lira continues its falls as country’s reserves dwindle The Turkish lira and other assets have climbed in value after the country’s opposition beat President Recep Tayyip Erdogan’s ruling AK Party (AKP) in the re-run Istanbul mayoral election on Sunday. Erdogan congratulated Imamoglu, who beat the AKP candidate by more than 700,000 votes. Tensions between the US and Turkey of the sort that inflamed 2018’s lira crisis have long threatened to flare up once again.center_img Monday 24 June 2019 12:40 pm Yet for the time being, investors have been cheered by the removal of electoral uncertainty. Turkish lira rallies as President Erdogan’s AK Party concedes Istanbul defeat Read more: Lira falls as tensions with US mount over fighter jets The Turkish lira had climbed 0.5 per cent against the dollar shortly before 1pm UK time, meaning one dollar bought 5.761 lira. Turkey’s Borsa Istanbul 100 stock index had climbed one per cent. The original election had to be re-run after the AKP said there had been voting irregularities. However, she warned against “reading too much into it”. She said: “The focus will quickly shift back to the issues that are still hanging over Turkey, especially the issue with sanctions.” Fund manager Alberto Gallo said the result showed “financial stress in Turkey has not only been not matter of ability to grow, but willingness to provide clarity around democratic institution”. whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OraclePost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionMisterStoryWoman files for divorce after seeing this photoMisterStoryUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand Solarlast_img read more

Mark Carney warns trade war could ‘shipwreck’ global economy

first_img Mark Carney warns trade war could ‘shipwreck’ global economy whatsapp However, he added that a global trade war and a no-deal Brexit were possibilities but not yet certainties. “I have no doubt whatsoever that in a no-deal Brexit we will need all of that money and more to respond to the immediate impacts of the disruption of a no-deal Brexit,” he told MPs. Share Speaking in Bournemouth today Carney said financial markets had recently experienced a “profound transformation” driven by growing concerns over the impact of rising trade tensions and policy uncertainty.  Bank of England governor Mark Carney today warned that a trade war could “shipwreck” the global economy.  “And that will mean there is no money available for longer-term either tax cuts or spending increases.”  Tuesday 2 July 2019 6:43 pm In the event of a no-deal Brexit, the £26bn “fiscal headroom” would need to be funnelled towards dealing with the economic disruption, he said.  whatsapp He said: “As I have sought to illustrate, whether current trade tensions shipwreck the global economy or prove to be a tempest in a teacup will have an important influence on the outlook for growth and inflation in the UK.” The chancellor has been in dispute with Conservative Party leadership hopefuls Jeremy Hunt and Boris Johnson over the true cost to the UK of leaving the EU without a deal in place. center_img Meanwhile chancellor Philip Hammond has warned that a no-deal Brexit could cost the UK up to £90bn.  Read more: FTSE 100 reaches two-month high as China trade war enters truce “The news at the weekend that the US and China agreed to restart trade talks is welcome – through as we have learned, progress today is no guarantee of progress tomorrow,” the central bank governor added.  Carney’s comments come days after US president Donald Trump and his Chinese counterpart Xi Jinping agreed a trade war truce and announced the world’s two largest economies would reopen negotiations.  Read more: No-deal Brexit would cost UK £90bn, warns Philip Hammond Hammond insisted that there is no “pot of money” to allocate towards tax cuts or additional spending. Jessica Clark Both candidates have indicated they would boost spending and introduce tax cuts, while also saying they are prepared to leave the EU without a transition deal.  Tags: Mark Carney by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funnylast_img read more

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