Downing Street says UK-EU vaccine row will not affect Moderna vaccine shipments March 10, 2021 The ongoing UK-EU vaccine row will not disrupt millions of Europe-manufactured Moderna vaccines set to arrive in Britain throughout spring, according to Downing Street. Boris Johnson’s spokesperson today said the government “remains confident” of its vaccine supplies and that “we’ll use the Moderna vaccine from spring”, despite an escalating row over vaccine supplies with Brussels. [...]
City A.M. TV: Daily Market Snapshot (video) March 10, 2021 With bond yields pulling back from their recent highs, there was a marked shift in equity market leadership yesterday. In particular, the downward pressure on tech and growth related stocks eased, and those sectors led the market higher, with strong gains in the Nasdaq100 (+4.0 per cent); the Philly SOX (+6.1 per cent); and the [...]
US Congress set to vote on Biden’s $1.9 trillion Covid-19 relief bill March 9, 2021 The US Congress will take up President Biden’s blockbuster $1.9 trillion Covid-19 relief bill tomorrow. The House of Representatives, under Democratic party control, is expected to approve it which would enable President Joe Biden to sign the legislation into law later this week. The Senate, where Democrats have a razor thin majority, passed its version [...]
Before the Bell: Who does not love a $120bn auction? March 9, 2021 Starting today, tomorrow and Thursday, the US Treasury will hold a total of $120bn auctions of government bonds in the 3-year, 10-year, and 30-year tenors. All eyes will be on the bid-to-cover ratios after a recent 7-year auction saw that ratio slump. If markets’ appetite for US government debt at these levels disappoints, Jeffrey Halley, [...]
Global mining trade group picks sustainability expert as new CEO March 9, 2021 The International Council on Mining and Metals (ICMM) said today that it has appointed Rohitesh Dhawan, a managing director at Eurasia Group with expertise in climate change and sustainability, as the trade group’s new chief executive. The appointment of Dhawan, effective from April, reflects increased pressure on the mining industry to put environmental, social and [...]
Lawyers know best: Is it time law firms left the LLP behind? March 8, 2021 Recent legislative changes have paved the way for new, alternative structures in law firms, a sector that was previously dominated by traditional partnerships and LLPs – limited liability partnerships. Alternative business structures (ABSs) – which allow non-lawyers to have a financial stake in a firm – have grown in popularity throughout the 2010s, and for [...]
Before the Bell: Europe set for positive start despite softness in Asia markets March 8, 2021 No one can complain about a lack of volatility in financial markets at the moment. The tug-of-war between economic recovery and inflation risks continued on Wall Street on Friday and spilt out onto the street in Asia. Friday’s outsized 379,000 gain in Non-Farm Payrolls caused US yields to spike initially. Still, equity markets just couldn’t [...]
Gavin Williamson confirms summer holidays may be shortened for English pupils March 7, 2021 Education secretary Gavin Williamson has confirmed that English pupils may have shorter summer holidays or longer school days to make up for days missed this academic year. English pupils will return to the classrooms tomorrow in what Williamson labelled today “a massive logistical exercise”. Pupils will be required to take Covid tests twice a week [...]
Back to school with confidence: Ensuring schools are safe for returning students March 6, 2021 | Sponsored With the arrival of a safe and effective vaccine, the UK Government has started to look towards the reopening of society after lockdown. In England, the Government is prioritising the full reopening of schools as a first step, with primary, secondary and college students going back to school the week of March 8. Schools have [...]
Liz Truss insists UK has not breached Northern Ireland protocol March 5, 2021 Trade minister Liz Truss has insisted Britain has not breached the Northern Ireland protocol in the Brexit trade deal, something it has been accused of doing by the European Union which has promised to take legal action. “These are temporary easements and it’s perfectly common practice whilst deals are being implemented to have temporary easements [...]