UK wage growth picks up steam
Wage growth in the United Kingdom economy has picked up, registering a 2.9% increase in average pay, according to the Office for National Statistics.
Wage growth in the United Kingdom economy has picked up, registering a 2.9% increase in average pay, according to the Office for National Statistics.
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The 0% UK August inflation figure is indicative of wider uncertainty that lies ahead, say industry experts, and the market is now an arena for only the most experienced of managers.
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The longer term implications of slowing Chinese growth on the global economy took centre stage during the latest Bank of England monetary policy meeting, the meeting’s minutes reveal.
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The International Monetary Fund has issued bearish commentary on the prospects for economic growth around the world in the near term.
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Return expectations from US equities among asset management companies are at a post-financial crisis low. EM equities may look cheap after last week’s correction, but asset managers have their reasons to stay sceptical.
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The past week has seen the largest outflows on record from equity funds, the latest Bank of America Merrill Lynch Flow Show report shows.
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The Great Rotation from emerging markets to developed market equities is now in full swing: while investors pulled out a record €7.1bn from global emerging market equities in July, net inflows into their developed market equivalents were at their highest since February 2014.
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Apple’s 11% decline led the fall as US stocks followed Europe and Asia down. But amidst the selling there were some asset allocators that saw more reasons for positivity than for panic.
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Alexis Tsipras’s resignation last night and poor factory orders from China on Friday have seen red ink flow across global markets.
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Growth in earnings per share has turned negative everywhere but Japan, Bank of America Merrill Lynch pointed out on Thursday.
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The IMF confirmed that it would delay a review of the yuan’s inclusion in its special drawing rights currency basket to September 2016, despite China’s latest move to relax control of the yuan exchange rate.
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Fund manager sentiment on emerging markets and energy stocks has hit a new low, according to Bank of America Merrill Lynch’s August Fund Manager Survey.
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