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Markets slump as recession warning lights start to blink


European and US markets slumped after new data shows Germany’s economy shrank in the second quarter, and an inverted US bond yield curve sparked fresh recession warnings.
Stocks were down across the continent as traders fled to safe haven assets such as gold and the Japanese yen in anticipation of an upcoming economic storm.
The US yield curve has inverted ahead of nearly every downturn in the country for the past 50 years, with only one false signal across the period.
GDP data released this morning showed Germany’s economy is already halfway to recession, after shrinking in the three months to June as global tensions put pressure on its export driven manufacturing sector.



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