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 presstv eu cuts uk growth outlook due to brexit uncertainty
presstv-eu cuts uk growth outlook due to brexit 'uncertainty'

The European Union has slashed UK’s economic growth forecast for this year and said the slowdown would continue through 2019 as uncertainties over Britain’s planned exit from the EU weigh on the economy.The EU said on Thursday that growth in Britain had "slowed markedly" in 2017 and was projected to fall to 1.5 percent for the year, down from its previous estimate of 1.8 percent.Brussels believes that the British economy will slow further to 1.3 percent in 2018 and 1.1 percent in 2019.The figures put Britain's economy lowest in the bloc with Italy, and far behind the growth rate predicted for the euro area, which is expected to be 2.2 percent this year and 2.1 percent in 2018."Economic growth in the UK has been slowing since the start of the year, as higher consumer prices constrained priv

presstv-uk central bank cuts economic growth forecast

Britain’s central bank has cut it forecasts for the UK economy, saying it expects growth to remain "sluggish" over Brexit uncertainty.The Bank of England on Thursday cut its annual growth estimate for 2017 to 1.7 percent from 1.9 percent previously, and for 2018 to 1.6 percent from 1.7 percent."Households looked through Brexit-related uncertainty initially, but more recently... they have cut back on spending, slowing the economy," the banks Governor Mark Carney told a press conference Thursday.The bank's Monetary Policy Committee voted to keep its main interest rate at a record-low 0.25 percent following a regular policy meeting."GDP growth remains sluggish in the near term as the squeeze on households' real incomes continues to weigh on consumption," The bank said in a statement on Thursd

presstv-brexit ‘uncertainty’ to hurt uk finances

Britain’s pending exit from the European Union and the “high levels of uncertainty” surrounding it might take away the country’s leading position as a financial hub, a top lobbying firm has warned.TheCityUK lobby group published a blueprint in coordination with PricewaterhouseCoopers (PwC) on Thursday, saying that their guidelines retain its financial prowess in a post-Brexit Europe.“Brexit has created high levels of uncertainty and the UK's leading position is being tested and challenged as other international centers develop rapidly,” said Head of Financial Services at PwC Andrew Kail.The so-called “roadmap to change” included a series of regulatory, industrial, and governmental changes that it said would guarantee economic growth despite the unknown future that awaits the British econom

irish sun - irish ceo positivity suffers a dip as brexit concerns loom

The uncertainty around the Brexit process has had a significant impact on Irish business PwC survey has said that up to 58 percent of Irish CEOs have a positive outlook on the economyConcerns regarding high personal tax burdens and Brexit have led to dip in positivityDUBLIN, Ireland - According to a latest study, high personal tax burdens and Brexit have both sunk the positivity amongst Irish CEOs. The 2017 Irish CEO Pulse Survey conducted by PwC found that up to 58 percent of Irish chief executives have a positive outlook on the economy but other concerns, including Brexit and tax burdens has seen that number fall in comparison to last year.The survey further revealed that although a majority of Irish chief executives view the economy in a favourable manner - overall the numbers have drop

presstv-imf downgrades uk economic growth forecast

The International Monetary Fund (IMF) has revised down its 2017 growth forecast for Britain, its first downgrade for the country since the aftermath of the Brexit vote held last year.In an update of its World Economic Outlook on Monday, the IMF said that the growth will slow to 1.7 percent this year from 1.8 percent that was in 2016. The monetary organization said the 2018 forecast will remain unchanged at 1.5 percent.The IMF had predicted in April that the UK economy would grow at 2.0 percent, after the economy withstood the initial shock of the Brexit referendum.The IMF said its downgrade reflected Britain's weaker-than-expected growth at the start of the year."The ultimate impact of Brexit on the United Kingdom remains unclear," the Fund's chief economist Maurice Obstfeld said.In respon

recovering from shock brexit vote, irish economy reports strong start to 2017

Irish Sun Wednesday 15th March, 2017• Business activity rose sharply in February• Economic growth has been strong at the start of 2017• Economic growth has been strong at the start of 2017DUBLIN, Ireland - The Irish economy has reported strong growth at the start of the year, latest data from IHS Markit suggested.With robust business confidence and sharp rise in business activity in February - the economy is said to have recovered from the shock Brexit vote of 2016.Further, the country looks set to remain the best-performing economy in the eurozone for a fourth year in a rowHowever, PMI data has revealed that the U.K.’s decision to leave the EU had a detrimental impact on Irish firms. The Markit Business Outlook survey for February suggested that Irish firms expect to weather the storms of

imf cuts us growth forecasts, cites donald trump fiscal plan uncertainty

David Lawder | Reuters  | 
Washington  June 28, 2017 Last Updated at 01:30 IST

imf cuts uk growth forecast citing 'tepid' economy and brexit concerns

The International Monetary Fund has cut its growth forecast for the UK economy in its first downgrade since the Brexit vote last year. The economy is expected to grow by 1.7 per cent this year, the IMF said, 0.3 per cent less than its April forecast, according to The Guardian.That was because of a "tepid performance" so far this year, its economic counsellor Maurice Obstfeld said, as well as concerns over the terms of the UK's departure from the EU. "The ultimate impact of Brexit on the United Kingdom remains unclear," he said. The downgraded forecast stood in contrast to other European Union countries. Germany was upgraded by 0.2 points and France by 0.1, taking them to 1.8 per cent and 1.5 per cent respectively. Italy and Spain both saw a 0.5 per cent rise in their growth predictions. Th

imf lifts growth prospects for the netherlands in new report

Photo: Depositphotos.comThe International Monetary Fund has raised its economic outlook for the Netherlands substantially after the unexpected strong economic recovery seen in the second quarter of 2017.The outlook for the world economy has also improved, the IMF said in its latest World Economic Outlook.The IMF now puts economic growth in the Nertherlands at 3.1% for this year and at 2.6% for 2018. The group’s previous forecast was for 2.1% growth in 2017 and 1.8% in the following year.But the IMF is not alone in its enthusiasm for the Dutch economy. Earlier the government’s macro-economic think tank  CPB  put growth at 3.3% this year and 2.5% in 2018.The IMF now puts world economic growth at 3.6% in 2017 and at 3.7% next year.  Both figures are 0.1 percentage points higher than in the pr

imf lifts raises growth prospects for the netherlands in new report

 Photo: Depositphotos.comThe International Monetary Fund has raised its economic outlook for the Netherlands substantially after the unexpected strong economic recovery seen in the second quarter of 2017.The outlook for the world economy has also improved, the IMF said in its latest World Economic Outlook.The IMF now puts economic growth in the Nertherlands at 3.1% for this year and at 2.6% for 2018. The group’s previous forecast was for 2.1% growth in 2017 and 1.8% in the following year.But the IMF is not alone in its enthusiasm for the Dutch economy. Earlier the government’s macro-economic think tank  CPB  put growth at 3.3% this year and 2.5% in 2018.The IMF now puts world economic growth at 3.6% in 2017 and at 3.7% next year.  Both figures are 0.1 percentage points higher than in the p

brexit blamed for shock construction slump

Continuing uncertainty over the economy in the wake of the Brexit vote has been blamed for a shock fall in construction activity.September’s figures mark the first time since before June 2016 the Purchasing Managers’ Index (PMI) has slumped to 48.1, below the 50 mark that separates growth from contraction. According to the PMI, civil engineering work suffered its sharpest drop since April 2013 and commercial development projects had the worst month since February 2013. Markit, which compiled the survey, also reported that confidence in the industry was at its weakest in four years.“The construction sector is entering its own recession,” Samuel Tombs of Pantheon Macroeconomics told The Independent, adding that “the government’s shift to a more accommodating stance in Brexit talks has done l

ahdb goes stateside to talk brexit and agriculture

Talking Brexit at industry events has been a regular occurrence for AHDB in recent months, with our series of Horizon reports becoming essential reading for the farming sector. But, last week we found ourselves on a platform at the US Department of Agriculture’s 93rd annual Ag Outlook Forum. As the Forum explored farm policy changes, both in the US Farm Bill and further afield, AHDB Board member Paul Temple gave conference delegates an overview of Brexit implications as UK farming looks ahead to a future outside of the EU. Paul’s presentation is available here.MI Director Phil Bicknell who accompanied Paul, shares his take on the key talking points from the event...Brexit parallels for American farmersSpeaking to American farmers, the themes were uncannily familiar. There were question mar

swedish companies in uk: ‘brexit will be bad for business’

A new survey shows that the bulk of Swedish companies operating in the UK do not believe a Brexit deal will be reached by the March, 2019, deadline and nearly half of them think Brexit will have a negative impact on future UK investments. The survey, conducted by market research group Ipsos MORI in collaboration with the Swedish Chamber of Commerce and 12 other foreign chambers in the UK, revealed a fairly bleak picture of foreign companies’ outlook on the UK’s business climate in relation to the country’s planned divorce from the European Union.
Swedish companies, in particular, seemed pessimistic over the implications of Brexit, with 78 percent of the 112 Swedish companies that took part saying they are either “not very confident” or “not at all confident” that the UK will see a positi

swedish companies in uk: 'brexit will be bad for business'

A new survey shows that the bulk of Swedish companies operating in the UK do not believe a Brexit deal will be reached by the March, 2019, deadline and nearly half of them think Brexit will have a negative impact on future UK investments. The survey, conducted by market research group Ipsos MORI in collaboration with the Swedish Chamber of Commerce and 12 other foreign chambers in the UK, revealed a fairly bleak picture of foreign companies’ outlook on the UK’s business climate in relation to the country’s planned divorce from the European Union.
Some 78 percent of the 112 Swedish companies that took part in the survey said  they are either “not very confident” or “not at all confident” that the UK will see a positive outcome by the March, 2019, deadline for its Brexit deal with the EU.

presstv-brexit: a complex divorce process

It’s becoming clear that there is far more complexity than thought behind Britain’s exit from the European Union, the so-called Brexit.With triggering article 50 the British government should settle all differences with the EU before full separation from the continent.In many EU citizens eyes, Brexit is punishment enough for Britain itself, that is to an extent that Tusk has already argued “Brexit in itself is punitive enough.”

presstv-watch press tv news headlines

Here is a brief look at Press TV newsroom's headlines from 18:00 GMT, June 13, to 08:00 GMT, June 14, 2017.Qatar diplomatic crisisThe UAE ambassador to the US says Washington should consider moving its airbase out of Qatar. Speaking to reporters in Washington, Yousef al-Otaiba suggested that the US military base could be moved to his country, instead. Qatar hosts 11,000 American military personnel at its al-Udeid airbase. Further in his remarks, Otaiba said the UAE and the US had allowed “bad behavior” by Qatar to continue for a long time. He added that several Arab nations which had isolated Qatar did not intend to take military actions against Doha. Meanwhile, Turkish Foreign Minister Mevlut Cavusoglu is heading to Qatar to hold talks with the country’s officials. The Saudi-led Arab coun

greece needs ‘growth shock’ says deputy pm | news

“What Greece needs is a shock of growth,” Deputy Prime Minister Yiannis Dragasakis told The Guardian on Sunday, adding that government ministers on Monday will be discussing a “new growth strategy.”“We will meet to discuss a new growth strategy that will focus solely on boosting investment and reducing unemployment to pre-crisis levels, that is to say 8 percent in the next 10 years,” he said.“The positive scenario for Greece is also positive for Europe,” Dragasakis, who was speaking on the sidelines of the Delphi Economic Forum, said in response to speculation about Europe’s future in light of Brexit and the election of Donald Trump to the US presidency.“For that to happen we have to say ‘enough with austerity’,” Dragasakis said, adding, however, that Greece “will have to compromise” with

asian wealth to beat europe's for first time amid brexit turmoil

Oil sinks more than 3.5% on shock US gasoline stocks buildBusiness StandardPolitical, economic uncertainty caused by Brexit results in fall in private wealth in Western EuropeBloomberg  June 15, 2017 Last Updated at 02:07 ISThttp://mybs.in/2UWVNL6

imf lowers india's growth to 6.7%

The IMF today lowered India's growth projection to 6.7 per cent in 2017, 0.5 percentage points less than its previous two forecasts and slower than China's 6.8 per cent, attributing it to demonetisation and introduction of the GST.The International Monetary Fund (IMF) raised its current year growth forecast for China to 6.8 per cent, 0.1 percentage more than its two previous projections in April and July -- pushing the Communist giant above India at the top of the global growth tally.It also lowered India's growth for 2018 to 7.4 per cent, 0.3 percentage points less than its previous two projections in July and April. India's growth rate in 2016 was 7.1 per cent, which saw an upward revision of 0.3 percentage points from its April report."In India, growth momentum slowed, reflecting the li

presstv-pound slips further as uncertainty grips uk

The pound wallowed around two-month lows Tuesday, unable to bounce back from last week's shock election that saw Britain's ruling Conservatives lose their majority, throwing the country into uncertainty, days before key Brexit talks.While Prime Minister Theresa May looked to counter anger within her party by apologizing and telling MPs "I got us into this mess, and I'm going to get us out", there are doubts about her future in Downing Street.May had called the vote in a bid to strengthen her majority, and her bargaining power, before going into the EU exit talks set for June 19. Now she must rely on the support of Northern Ireland's Democratic Unionist Party.Greg McKenna, chief market strategist at AxiTrader, said: "The political uncertainty is unhelpful given Brexit talks are about to beg

presstv-uk pm's brexit speech prompts scathing criticism

Jerome HughesPress TV, BrusselsBritish Prime Minister Theresa May says her government is seeking a transition period of about two years after Brexit, during which trade should continue on current terms. Pro-Brexit politicians and campaign groups, however, describe her intention to delay the UK's separation from the EU as a betrayal of those who voted in last year's referendum in favor of Brexit. Jerome Hughes reports.

imf lowers india's growth forecast over demonetisation, gst

The IMF today lowered India's growth projection to 6.7 per cent in 2017, 0.5 percentage points less than its previous two forecasts and slower than China's 6.8 per cent, attributing it to demonetisation and introduction of the GST.The International Monetary Fund (IMF) raised its current year growth forecast for China to 6.8 per cent, 0.1 percentage more than its two previous projections in April and July -- pushing the Communist giant above India at the top of the global growth tally.It also lowered India's growth for 2018 to 7.4 per cent, 0.3 percentage points less than its previous two projections in July and April. India's growth rate in 2016 was 7.1 per cent, which saw an upward revision of 0.3 percentage points from its April report."In India, growth momentum slowed, reflecting the li

peugeot buys vauxhall in £1.9bn deal, budget tax rises, china growth cut

International markets are expected to react today after China cut its annual growth target to a new low. Beijing says it will aim for GDP growth of "around 6.5%, or higher if possible in practice". Li Keqiang, the prime minister, said there are "many uncertainties about the direction of the major economies’ policies" and, seemingly referring to Donald Trump, that "the factors that could cause instability and uncertainty are visibly increasing". 

real wages to fall as 24 chase each low-skilled job

Real wages will continue to fall over the next year, due to a glut of job applicants and despite record low unemployment.That is the conclusion of the Chartered Institute of Personnel and Development and staffing group Adecco, which surveyed more than 1,000 British firms. They predict basic pay will rise by just one per cent over the next year, less than inflation, which is expected to reach three per cent.See related More than half of firms will raise pay by just 1%, says CIPDUK wage growth stalls as prices surgeThe institure attributes low wage growth to a range of factors, including Brexit uncertainty, weak productivity and the rise in the National Living Wage.However it says another major factor is an oversupply of job applicants. There are a median of 24 job seekers applying for every

imf predicts uk growth is slowing as europe picks up pace

The UK's economic growth will be significantly slower than expected this year after a sluggish start, according to the International Monetary Fund (IMF).See related UK falls to bottom of global growth leagueUK GDP had been expected to expand by two per cent this year, but in the latest update to forecasts for the global economy, the IMF has downgraded that prediction by 0.3 per cent to 1.7 per cent.That's the first downgrade from the IMF for the UK economy "since the immediate aftermath of the Brexit vote last year", says the Financial Times, and also "the biggest downgrade of any advanced economy".UK growth came in at just 0.2 per cent for the first quarter, less than a third of the rate at the end of last year, as the services sector slowed markedly.Elsewhere the estimate for US growth w

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