Shadow chancellor Anneliese Dodds to renew calls for July budget July 2, 2020 Shadow chancellor Anneliese Dodds will renew calls tomorrow for a July “back to work budget” in her first major set piece speech since being appointed to the role. She will urge chancellor Rishi Sunak to “recognise the scale of the challenge we face” and pledge a summer budget that focuses on “jobs, jobs, jobs”. Dodds, [...]
US economy adds 4.8m jobs as recovery continues July 2, 2020 The US economy added 4.8m jobs in June, the biggest increase since records began in 1939, in the latest sign that the country is rebounding sharply from the depths of the coronavirus crisis in April. The unemployment rate fell to 11.1 per cent in June – still extremely high by historical standards – from 13.3 [...]
Eurozone unemployment rate rises less than expected in May July 2, 2020 The unemployment rate in the eurozone rose less than expected in May, indicating that government measures to protect jobs within the bloc have been successful. While the eurozone’s unemployment rate hit a four-month high of 7.4 per cent, new data from Eurostat showed, economists had expected the rate to rise to 7.7 per cent. Read [...]
Economists predict record US jobs growth in June in botched reopening July 2, 2020 The US economy likely created jobs at a record clip in June as more restaurants and bars resumed operations, economists have predicted. But a surge in coronavirus cases now puts the US economy’s fledgling recovery and jobs growth at risk. The Labor Department’s closely watched monthly employment report today is expected to add to a [...]
Two-thirds of Brits think coronavirus bailouts should have strings attached July 2, 2020 Almost two-thirds of Brits think large companies should only receive public bailout money if they agree to conditions such as protecting jobs and reducing carbon emissions, according to polling published today that adds to pressure on the Bank of England. Financial campaign group Positive Money and pollster Yougov found that 63 per cent of the [...]
Bank of England to review climate impact of corporate bond-buying after crisis July 1, 2020 The Bank of England will look at introducing climate change considerations when deciding which corporate bonds it buys, governor Andrew Bailey said today. The central bank had been targeted by climate change protesters who have been calling and emailing it this week to demand a change in the way it helps companies survive the Covid-19 [...]
S&P: Brexit to hold back UK economy’s coronavirus recovery July 1, 2020 Credit rating agency S&P has said prolonged social distancing and Brexit will hold the UK economy’s recovery from coronavirus, disagreeing with the Bank of England’s optimistic view about a sharp rebound. S&P Global Ratings today said it expects the UK economy to shrink by an enormous 8.1 per cent this year. And it said the [...]
Signs of rising unemployment already apparent, says BoE’s Haskel July 1, 2020 Bank of England interest rate-setter Jonathan Haskel said that indicators of rising unemployment in the UK caused by the coronavirus crisis “are already revealing themselves.” In a speech given today, Haskel said there was a risk that Britain’s economy would be harder hit by the pandemic than the central bank has predicted. “I believe the [...]
Eurozone manufacturing downturn eased in June as lockdowns loosened July 1, 2020 The downturn in eurozone manufacturing was not as bad as initially thought in June after many countries in the bloc eased lockdown restrictions. IHS Markit’s final manufacturing purchasing managers’ index (PMI) reading for the bloc moved closer to the 50-mark separating growth from contraction last month, coming in at 47.4. The reading marks a significant [...]
UK manufacturing activity steadies in June following historic slide July 1, 2020 Activity in the UK’s manufacturing sector grew narrowly in June as lockdown measures were eased, with companies reporting a small increase in output following the historic collapse triggered by coronavirus. June’s final reading for the IHS Markit/Cips manufacturing purchasing managers’ index (PMI) came in at 50.1, compared to May’s 40.7. Any reading above 50 on [...]
