10.5m Brits could not last another month without income January 22, 2021 One in five of adults in the UK could not support their household for one month if they lost their source of income, a report revealed. After a third lockdown gripped the nation, 10.5m British adults have been found to have no financial buffer, digital financial coaching app Claro said today. With financial strain disproportionately [...]
Pandemic costs: UK borrowing set to rise by another £31bn January 22, 2021 There has been a lot of chatter in recent months over the explosion in UK public debt as a result of the pandemic and the emergency measures taken by the UK government to support the economy. “This probably goes some way to explaining the rather erratic government response to the pandemic as the innate caution [...]
Pound sterling at highest point against the US dollar in 2.5 years January 21, 2021 Pound sterling at highest point against the US dollar in 2.5 years
Bank of England’s Bailey expects ‘pronounced recovery’ for economy January 21, 2021 Bank of England Governor Andrew Bailey said yesterday he expected Britain’s economy would recover strongly as the country moves ahead with vaccinating its population against Covid-19. “I really do think that we are going to see a pronounced recovery in the economy as the vaccination programme, as it is doing now, rolls out,” Bailey said. [...]
Blockchain and XBRL: the myth January 19, 2021 | City Talk Currently, many jurisdictions around the world require public companies to produce financial reports using eXtensible Business Reporting Language (XBRL). The myth that blockchain could replace XBRL in the production of financial information is incorrect. Blockchain is not a data standard. And XBRL is not a distributed ledger system. Replacing one with the other would be [...]
UK tightens rules on big businesses to get £23bn in late payments owed under control January 18, 2021 UK tightens rules on big businesses to get £23bn in late payments owed under control
EU politicians pushing for ‘masterplan’ to steal City jobs from London and promote euro in global trade January 18, 2021 EU politicians pushing for 'masterplan' to steal banking jobs from London and promote euro in global trade
Before the Bell: Europe set for lower open on delayed recovery concerns January 18, 2021 After the early week exuberance of the first week of 2021, investor appetite for risk has taken a little bit of a knock the last week, largely down to concerns that the recovery story being priced in may well be a little premature, Michael Hewson, chief market analyst at CMC Markets UK, tells City PM [...]
Salaries for those who kept their jobs through pandemic rose in 2020, says Reed January 18, 2021 Salaries for those who kept their jobs through pandemic rose in 2020, says Reed
UK set for double-dip recession as GDP plummets 2.6 per cent January 15, 2021 The UK economy shrank by 2.6 per cent in November as the Covid-19 pandemic took hold of multiple sectors across the country, according to new figures published this morning. The Bank of England estimates Britain’s economy shrank by just over 1 per cent over the final three months of 2020. With a new lockdown in [...]
