Category: Europe

Bank of England Governor Mark Carney said on Tuesday that a hit to Britain’s economy from last month’s decision by voters to leave the European Union could prompt the Bank to act, hinting again that more stimulus is on the way. “If the outlook has worsened, to use that term, in the judgment of the…

Italy’s economy will not return to the levels seen before the 2008 financial crisis until the mid-2020s, the IMF has said, implying “two lost decades”. By the mid-2020s, it says the economies of other eurozone members will be 20-25% larger than levels seen in 2008. The Fund’s comments came as it cut its growth forecasts…

The U.K. has just voted to divorce its biggest trade partner. Now it needs to find new markets, and quickly. Negotiations on the terms of Britain’s exit (Brexit) from the European Union will take years, and that means prolonged uncertainty for exporters. Businesses are clamoring for government to come up with a plan. Two weeks…

The board of Tata Steel is meeting in India to discuss the future of its UK steel operations. It is expected to “pause” the sale of the main Port Talbot plant, but go ahead with the sale of its speciality business, which employs 2,000 people in Hartlepool, Rotherham and Stocksbridge. Tata is thought to be…

The U.K. market for commercial property has just been hit with another massive Brexit aftershock. Four more big asset management firms have halted trading in commercial property funds in the past 24 hours, the latest sign of turmoil since the U.K. voted to leave the European Union on June 23.  A total of seven funds…