According to a report by the British Chambers of Commerce (BCC) business investments across the UK are coming to a halt and the economy is forecasted to see zero growth in the second quarter.
German exports fell by 0.5 percent from April 2018 to April 2019, according to the Trade Balance report released by the Statistisches Bundesamt Deautschland
Fiat Chrysler withdrew its proposal to merge with French automaker Renault due to the lack of political conditions that would ensure a successful deal.
The talks between the two automobile companies have been going on since May and after a series of late-night meetings, the French government requested a vote for or against the merger to be delayed.
The hot topic lately in the news is trade. During President Donald Trump's state visit to Britain and his meeting with Prime Minister Theresa May, he encouraged the UK to get Brexit over with so that the U.S and the UK could come to a trade deal. According to Bloomberg, Trump said that a deal would triple trade between the two countries.
The British Retail Consortium (BRC) released its Like-For-Like Retail Sales report, which measures changes in the actual value of retail sales from participating companies with invaluable management information on a regular and reliable basis. For May this report showed retail sales dropped by 2.7 percent, which is the biggest drop since 1995.
The Markit Economics released the Caixin China Manufacturing Purchasing Managers Index (PMI) this morning, showing that operational conditions have improved slightly for May.
In his latest bid to control illegal immigration from Mexico, U.S President Donald Trump has announced that all goods coming from Mexico to the U.S will carry a tariff of up to 25 percent.
As the world's two largest economies, the U.S and China, show no signs of coming to some kind of agreement when it comes to the trade war, the Dollar reached an almost two-year high yesterday at 98.371, while the world fears for the worst.
An ongoing effort is needed to strengthen the New Zealand financial system, stated the Governor of the Reserve Bank of New Zealand, Adrian Orr, during a speech, while releasing the May financial stability report.
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