BOE cannot do everything, warns Mark Carney
The Bank of England is not omnipotent, Mark Carney has warned.
The governor said that the BOE can help lay the “foundations” for
economic prosperity, but is only one plank in achieving it. The
Canadian added that although BOE officials can do their best to
keep inflation low and boost jobs and growth they cannot boost
long-term productivity or alter the fate of the nation.
Gold distorted Brexit campaign claims
Britain’s exports to outside the EU are far lower than official
figures suggest, reports Sky News. Government data shows that, over
the past five years, the share of UK goods being exported to the EU
was only 46%. But when gold is excluded from the figures, half of
UK physical exports over the past five years went to the EU. The
news is seen as a blow for those who argued for Brexit.
Uber ban is ‘disproportionate’ says Theresa May
The ruling to stop Uber operating in London was
“disproportionate” and has put thousands of jobs at risk, says
Theresa May. The Prime Minister said taxi-hailing company had
questions to answer but the decision to stop it operating had
“damaged lives”. Uber has been told it will lose its private hire
licence, after Transport for London raised public safety and
security concerns.
Top chicken plant caught tampering with safety records
The leading supplier of chicken to British supermarkets has been
caught tampering with food safety records to dupe consumers into
buying meat past its use-by date. The Guardian and ITV filmed
undercover footage of workers altering the slaughter date of
poultry being processed at a plant that supplies top chains
including Tesco, Sainsbury’s, Marks & Spencer, Aldi and
Lidl.
House price divide as Manchester outpaces London
House prices in Manchester, Birmingham and Edinburgh are soaring
as London’s property market drags down the rest of the country,
according to Hometrack. Manchester recorded annual house price
growth of 7.3%, while Birmingham’s rate was 6.7% and Edinburgh was
at 6.6%. Meanwhile, the capital’s growth rate of 1.9% is below the
rate of inflation, at 2.9%.
Quote of the day… Gordon Brown on the crisis to come
“If that crisis were to emerge, would we really know who owed
what to whom and on what terms?” Gordon Brown warns that the
UK and other major economies are not well-equipped for the next
financial crisis.
THE NUMBERS… AT 0738 GMT
FTSE 100: up +0.13 to 7322.82
Dow Jones: up +0.18 to 22381.20
Dax: up +0.37 to 12704.65
Cac 40: up +0.21 to 5293.77
Nikkei: up +0.47 to 20363.11
Hang Seng: up +0.35 to 27518.73
US dollar: buys €0.84900 and £0.74570
Sterling: buys $1.34170 and €1.13870
Oil: $56.42 up +0.0
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