Foreign investment into UK hits record high
Foreign investment into the UK rose 11 percent on last year, according to figures from the Department for International Trade released on Tuesday.
The UK attracted 2,213 inward investment projects over the last year, making it the most popular country in the European Union for foreign investment.
According to the report, the investment created 116,000 jobs in the UK. International Trade Secretary Liam Fox commented:
“These impressive results show the UK continues to be the place to do business.
“We’ve broadened our reach with emerging markets across the world to cement our position as the number one destination in Europe for investment.”
Global stocks up after Bank Holiday weekend
Global stock markets bounced on Tuesday despite lukewarm comments from Janet Yellen on Friday, leaving investors in the dark as to when rates will rise.
The Shanghai Composite closed up 0.15 percent at 3,074.68, with the Hang Seng up 0.85. The EuroStoxx 50 is currently up 1.06 percent, with the FTSE 100 up modestly also.
Investors have been given conflicting information as to when rates will rise, with Vice Chair Stanley Fischer suggested the September meeting may be the moment. Markets were quiet last week ahead of Federal Chair Janet Yellen’s keynote speech in Jackson Hole, where investors were hoping for a more solid timescale.
Japanese unemployment lowest in 21 years
Japan’s unemployment rate has fallen to the lowest figure in 21 years, despite slow economic growth.
Unemployment fell to 3 percent in July, down from 3.1 percent in June. The figure is a spot of good news amongst mostly weak economic data; Japanese economic growth fell to 0.2 percent last month, with inflation in the world’s third biggest economy remaining well below the 2 percent target.
Japanese Prime Minister Shinzo Abe has consistently tried to promote economic growth in the country but has seen his economic policy – named Abenomics – struggle to make any real headway.
30/08/2016
