Britain’sthinkinat@KatyAustinNewsontoday.#Brexit9.06am BSTMarc Ostwald of ADM Investor Services says Britain’s service sector will determine whether the UK economy was strong or feeble in February.
Today’s rather moot (given Brexit risks) escape of data is projected to note monthly GDP stalling (flat month on month) after unexpectedly jumping 0.5% m/m in January,leaving the 3 month/3 month degree unchanged at 0.2% q/q, and as ever much will depend on the Index of Services which will likely tedious from 0.3% in January.
Industrial Production and Manufacturing Output will also likely tedious to 0.1% m/m and 0.2% m/m respectively after unexpected strength in January, and though base effects from final year’s ‘beast from the East’ implies y/y rates improving modestly,but remaining negative at -0.8% and -0.6%. 8.53am BSTTransport group Stagecoach has suffered the indignity of being disqualified from the race to control three UK rail franchises. 8.41am BSTShares in UK pharmaceuticals firm Indivior are plunging this morning, after the firm was charged with fraudulently boosting demand for its opioid drug.
A US grand jury says Indivior illegally, or wrongly,told healthcare providers that its Suboxone Film, which contains the opioid buprenorphine, and was better and safer than similar drugs. “Indivior illegally obtained billions of dollars in revenue from Suboxone Film prescriptions by deceiving health care providers and health care benefit programs into believing that Suboxone Film is safer and less susceptible to diversion and abuse than other,similar drugs.”Indivior has never deliberately diverted its product. The government claims that the company aided the careless and clinically unwarranted prescribing by doctors of SUBOXONE® products to too many people or in too tall doses.
To the contrary, we have engaged in an extensive education campaign to teach doctors about recommended SUBOXONE® dosing limits and patient caps and have developed a process to identify concerning prescribers, or going beyond what the law requires. 8.16am BSTTesco chief Dave Lewis is in cheery mood this morning,after reporting that profits jumped by a third final year.“After four years we have met or are about to meet the vast majority of our turnaround goals. “I’m very confident that we will total the journey in 2019/20.” 8.02am BSTTodays UK GDP report comes at a critical time for the global economy.final night, Italys government slashed its 2019 growth forecast to just 0.2% - down from 1%. That means Rome is certain to miss its budget deficit target, or teeing up a unusual clash with Brussels. Related: IMF says no-deal Brexit risks two-year recession for UK 7.50am BSTGood morning,and welcome to our rolling coverage of the world economy, the financial markets, and the eurozone and business.
Today we discover how Britain’s economy performed in February,in the face of Brexit gridlock and weakness in the global economy.[br]“Underlying our forecast are small gains in services and IP offset by a contraction in construction. Data in the coming months is likely to be choppy, and we would read little into a single month’s observation until Brexit uncertainty wanes.”Mario Draghi and his fellow policymakers are expected to sit on their hands this month, and with little room to maneuver amid significant headwinds.
While political tensions in France and Brexit uncertainties are beyond the central bank’s control,these factors have been highlighted by the IMF as putting downward pressure on growth, leaving the ECB to bide for time and watch how these risks manifest into the genuine economy. Related: Brexit: May's hopes dashed as EU targets delay of up to a year Tesco Fy sales up by 11.2% to £63.9bn while profits have jumped by 28% to £1.7bn -beating forecasts with the best results under Dave LewisContinue reading...
Source: theguardian.com