All the day’s economic and financial news, including the latest healthcheck on Britain’s factories 9.25am BST THE BOSS OF BRITAIN’S BIGGEST HOUSEBUILDER HAS WARNED THAT IT COULD STRUGGLE TO FIND WORKERS IF THE UK LEAVES THE EUROPEAN UNION. David Thomas, CEO of Barratt Developments, said this morning: “We have a significant part of our labour force, particularly within the London market, coming from continental Europe — the free movement of labour in the European market is a positive from our point of view.” EU exit would hit workforce says Barratt chief https://t.co/UcwqJk9Nv8 9.21am BST OVERSUPPLY FEARS ARE DRAGGING THE OIL PRICE DOWN AGAIN THIS MORNING, AND HELPING TO PUSH SHARES DOWN TOO. 9.08am BST OVER IN GERMANY, OPPOSITION IS MOUNTING AGAINST THE EUROPEAN CENTRAL BANK’S PLAN TO STOP MAKING €500 NOTES. A group called Stoppbargeldverbot -- Stop The Ban on Cash -- affiliated to the insurgent anti-euro Alternative for Germany party, has organized the Frankfurt demonstration for May 14. Its leaders see a creeping effort by the German government, commercial banks, the European Union and the ECB to eliminate cash and to subject citizens to the electronic surveillance of their financial affairs. The ECB says printing of 500-euro notes is being halted because of concerns it facilitates criminal activities. The note will stay legal tender, other denominations will remain and Draghi has said cash will continue to have a role in payments. 9.00am BST TODAY’S UK INDUSTRIAL PRODUCTION REPORT COMES HOT ON THE HEELS OF SOME POOR DATA FROM EUROPE. Yesterday Germany, France and the Netherlands all reported disappointing figures; French factory output fell 0.3%, it was down 1.3% in Germany and an alarming 2.4% in the Netherlands. Eurozone economic recovery showing signs of losing steam as industrial production down in both Germany & France in March 8.43am BST EUROPEAN MARKETS ARE FALLING IN EARLY(ISH) TRADING, AS CITY INVESTORS BRACE FOR TODAY’S UK INDUSTRIAL PRODUCTION REPORT IN AN HOUR’S TIME. The Eurozone has had a pretty fantastic start to the week, the DAX crossing 10000 as investors displayed their relief at the signs of progress in regards to the Greek debt debate. Yet the region’s indices have begun to tick back this Wednesday, the DAX and CAC slipping 0.4% and 0.6% respectively. With little on the agenda until Friday’s GDP data dump, and the post-Eurogroup enthusiasm unable to sustain itself for a third day in arrow, the Eurozone indices may struggle build on their early in the week spurt as the day continues. 8.26am BST GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKETS, THE EUROZONE AND BUSINESS. After two days of Greek debt drama, today looks rather quieter, I’m afraid. We already know from the January and February data that manufacturing has come under pressure in recent months, with the Tata steel headlines keeping it in the forefront of the public’s thinking, while the most recent PMI data has also been weak. Continue reading...
 |
| READ THE ORIGINAL POST AT www.theguardian.com |