Hot June leads to clothing spending spree
A warm June propelled UK retail sales for the second quarter of the year, with strong clothing sales compensating for a decline in food and fuel sales.
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Macro News
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Industry not expecting a hawkish Draghi at ECB meeting
Industry experts are not expecting the European Central Bank to tighten monetary policy at its next rate meeting, despite Mario Draghi’s hawkish mood of late.
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Why the next global economic contraction could be only three years away
Seneca Investment Managers’ chief investment officer Peter Elston has warned that the next global economic contraction could occur in 2020 and is cutting his equity exposure accordingly.
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Managers slash US weighting to nine-year low
The degree to which global fund managers are underweight in US equities has fallen to its lowest level since January 2008, according to the BofA Merrill Lynch July fund manager survey.
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UK inflation unexpectedly dips in June
UK inflation has fallen month-on-month for the first time since April last year, reducing the likelihood of an August interest rate rise.
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UK investor confidence ‘scraping the bottom of the barrel’
Sentiment among UK investors has plummeted to its lowest level this year, the latest monthly data from Lloyds Private Bank and Hargreaves Lansdown has confirmed.
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China GDP growth surprises on the upside
China pulled out better than anticipated growth over the second quarter, leading analysts to speculate it could have greater momentum moving forward.
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Investors increasingly divided over UK prospects
Confidence over global economic prospects is rising, but the split between the optimistic investors and pessimistic in the UK is widening according to the latest State Street ‘Brexometer’ survey.
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Asset managers urged to transform as profits fall
Asset managers will have to transform in order to survive, according to a new report which revealed industry revenue and profits fell for the first time since 2008.
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UK unemployment hits lowest level since 1975
The rate of unemployment in the UK has dropped to its lowest level in 42 years, falling to 4.5% in the three months to May according to the Office for National Statistics (ONS).
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Upbeat asset and wealth managers behind the times on AI
Asset and wealth managers are more upbeat about their prospects than other sectors of the financial services industry, but are lagging others technologically according to the CBI/PwC Financial Services Survey.
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The best-selling funds in June
In these volatile times, the Tilney Group’s managing director Jason Hollands talks through the funds that managed to attract investors via the Bestinvest Online Investment Service in June.