Rolling coverage of the latest economic and financial news Introduction: Hong Kong recession to deepenGDP expected to shrink in fourth quarter of 2019City blames social unrest for slumping growthBankers bonuses to slumpIn the UK, mortgage approvals rise 1.47pm GMT Time for a quick summary (on a quiet day).Hong Kong is expected to slump further into recession this quarter. GDP is forecast to have shrank in October-December, for the third quarter running, due to the pro-democracy protests that have been raging for months.Based on the situation of these few months, it is inevitable that negative growth will continue.This means the government will be less flexible in using financial resources under an economic recession.” Related: Firms must justify investment in fossil fuels, warns Mark Carney 1.42pm GMT Just in: The US trade deficit has unexpectedly shrunk.Imports into America fell by 1.3% in November, while exports rose by 0.7%, according to the Census Bureau. USD Advance Goods Trade Balance (NOV),Actual: -$63.2bExpected: -$68.8bPrevious: -$66.5bhttps://t.co/UnvaSYDAtk Continue reading…
Via: Hong Kong recession to continue as protests hit economy – business live
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PIERS MORGAN: A phone call I received from a fired-up Trump should be a warning to Democrats
President Trump called me for a chat on Saturday. It was our first conversation since he unfollowed me on Twitter in April after I wrote a Mail column telling him to ‘Shut the f*ck up Read more…