US unemployment claims surge as Covid-19 cases ravage economy and jobs January 14, 2021 US unemployment claims surge as Covid-19 cases ravage economy and jobs
Christine Lagarde backs economic outlook despite Covid-19 resurgence in Europe January 13, 2021 The eurozone economy will rebound this year provided lockdown measures curb the Covid-19 pandemic, according to European Central Bank President Christine Lagarde. Speaking earlier today, Lagarde highlighted the importance of easing lockdown restrictions and delivering successful vaccination programmes, conceding that early rollouts had posed challenges. Last month, the ECB predicted economic growth of 3.9 per [...]
Our tech advances are difficult for productivity stats to compute January 13, 2021 One of the most depressing aspects of the decade of the 2010s, well before Covid-19 struck, was the apparently very slow growth in productivity. This is not a mere ivory tower issue. It is only through increasing productivity that rises in living standards can be sustained. Productivity is the key measure of the efficiency of [...]
Sterling strengthens after Bank boss Andrew Bailey dismisses negative rates talk January 12, 2021 The pound is stronger against the US dollar and the euro this evening after comments from Andrew Bailey
Bank of England bosses reassess 2021 GDP and jobs numbers as UK economy faces ‘darkest hour’ January 12, 2021 Bank of England boss Andrew Bailey and his deputy Ben Broadbent have today both signalled the effects of the UK’s third Covid-19 lockdown. In separate speeches, Bailey and Broadbent spoke on the impact of the current nationwide lockdown, the furlough extension and consumer behaviour. The UK economy was facing its “darkest hour”, but Bailey also [...]
Tesla and the S&P 500: what could have been? January 12, 2021 | City Talk Tesla has finally joined the S&P 500 Index on 21 December 2020. Back in September, Standard & Poor’s announced that the index’s inclusion committee had decided not to add Tesla to the S&P 500. This unexpected news sent Tesla shares tumbling more than 16% in one day. Given Tesla’s sheer size — it is now among the [...]
Chancellor Rishi Sunak: The City could be set for a post-Brexit Big Bang 2.0 January 11, 2021 Rishi Sunak believes the Square Mile is set for a post-Brexit “Big Bang 2.0” and that the City’s “culture and creativity” will see it to greater, global heights. In a candid interview with City PM, the Chancellor also pushed back against criticism of the UK’s trade deal with the European Union, saying that it should [...]
Rishi Sunak to delay tax hikes until after March budget amid mutant virus strain January 9, 2021 The chancellor is reportedly expected to delay plans for tax rises until after his March budget as concerns rise over the huge economic impact of the pandemic, with cases of the new mutant strain of coronavirus spreading across the country. Rishi Sunak has previously warned that government debt built up during the crisis could become [...]
US jobs figures ‘so bad they’re good’ as 140,000 lose roles amid Covid-19 surge January 8, 2021 Non-farm payrolls show US jobs declined in December as Covid-19 cases surged
GDP will take less of a hit in third lockdown: ING January 7, 2021 After nearly a year of coronavirus restrictions the effect of a third lockdown on the UK economy will be less severe than the initial shock last March, in part because companies are far better prepared. News of a mutant Covid strain that is more transmissible and has sent cases skyrocketing will see GDP dip around [...]
