According to China's top economic planning body, some local companies are cutting back on their efforts to hire new university graduates.China Economyread more
Airbus recorded orders and options for 123 planes, according to the aviation consulting firm IBA.iQ.Paris Air Showread more
Markets in Asia were mostly higher in Tuesday trade as investors awaited the start of a closely-watched meeting by the U.S. Federal Reserve, set to kick off later stateside.Asia Marketsread more
Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Chinese President Xi Jinping will travel to North Korea this week for a two-day visit, ahead of a possible meeting between Xi and President Donald Trump at next week's G-20...Politicsread more
The Pentagon said that the crew of one of the tankers, the Japanese Kokuka Courageous, found an unexploded limpet mine on its hull following an initial explosion.Politicsread more
Despite the popularity of companies like Beyond Meat and Impossible Foods, meat consumption around the world continues to rise.Food & Beverageread more
Electronic material that Infowars host Alex Jones turned over to families of Sandy Hook Elementary School shooting victims who are suing him contained images of child...Politicsread more
Facebook's reported move into cryptocurrency could amount to the biggest catalyst for digital assets in their decade-long history, some crypto investors say.Bitcoinread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Eleven banks that lend to shipping lines announced Monday that climate impact will be integrated into the criteria that determines how much shipping companies can borrow, an...Transportationread more
The next two to three months will be critical for the future of the U.K. economy, Ben Broadbent, deputy governor of the Bank of England, told CNBC Monday.
The U.K. government is racing against the clock trying to clinch a deal with the European Union in the coming weeks. The idea is to have an agreement on how the U.K. will leave the EU in March of next year with enough time for parliamentary approval both in the U.K. and across Europe.
"The sequence of events over the next two to three months could change the outlook materially," Broadbent told CNBC's Joumanna Bercetche.
Following a monetary policy meeting earlier this month, the BOE said the U.K. is set to grow 1.7 percent in 2019 and inflation is likely to hit 2.1 percent during the same period. The central bank's forecasts are based on an assumption that the U.K. will strike a deal with the EU and keep relatively close trade links with the bloc.
"I still think it's the most likely outcome but, of course, over time, every day there are headlines, positive, negative, which will send the currency in particular in one direction or the other," Broadbent said Monday.
Sterling was once again under pressure Monday morning on the back of negative headlines about Brexit. The British media were reporting divisions within Prime Minister Theresa May's circle of key lawmakers, with potentially further resignations from the administration.
Business investment and growth rates have been hit by the uncertainty surrounding the U.K.'s departure from the EU. The Office for National Statistics (ONS) said Friday that the U.K. economy expanded 0.6 percent in the three months to September, from 0.4 percent in the previous quarter. Broadbent told CNBC that growth has been "reasonably weak" over the last two years.
"That said and even though GDP (gross domestic product) growth has been weaker than certainly pre-crisis rates, it's been strong enough to allow the unemployment rate to fall further to reach 40-year lows and that in turn has been strong enough to push our wage growth which is momentarily higher since any time since the crisis," he said, mentioning that there are currently inflationary pressures.
The Bank of England kept its benchmark interest rates unchanged earlier this month, but it has raised rates twice since last year and since the global financial crisis of 2008. Following the November meeting, the BOE warned that despite good economic data, the lack of certainty over Brexit seemed to have hit business sentiment and could bring further volatility.
"The additional thing we have seen this year is an intensification of the drag on business investment from uncertainty about Brexit, investment has been relatively weak since the referendum, certainly compared to comparable economies …But that effect, I think, has intensified through the course of 2018," he said.
In spite of what happens to the Brexit talks, Broadbent told CNBC: "We will do whatever we think we have to do to meet the remit."
The central bank's target is to keep inflation at 2 percent.