Oil prices tumble as US-China tensions rise over Hong Kong May 22, 2020 Oil prices have fallen after a rise in US-China tensions that was spurred by Beijing moving to impose security laws on Hong Kong and as fresh doubts set in about demand amid the coronavirus recovery. Brent crude oil, the main global price, fell 4.9 per cent to $34.40 per barrel. Meanwhile US benchmark WTI crude [...]
Austerity architect George Osborne: UK faces ‘hard choices’ after borrowing surge May 22, 2020 Former chancellor George Osborne has said the government will in the next “two or three years” need to lay out a plan to “bring balance” to the budget, after data showed that borrowing soared in April. Osborne sharply divided opinion in the UK as the primary architect of post-2008 austerity, which slashed spending in an [...]
Bank of England deputy warns of risks to BoE’s upbeat forecast May 22, 2020 Bank of England deputy governor Dave Ramsden has warned that there could be some “scarring” to the economy after coronavirus as he stressed that the path to recovery is hugely uncertain. Ramsden also said that the Bank still has “quite a lot of headroom” to buy more bonds and echoed governor Andrew Bailey in saying [...]
UK set to introduce £1,000 fines for travel quarantine breaches May 22, 2020 The UK is today set to introduce a 14-day quarantine for overseas travellers backed up with £1,000 fines to help stop the spread of coronavirus. The move comes despite opposition from airlines who have argued it will devastate their already struggling industry. The government is expected to announce that all international arrivals will be required [...]
Time to empower the doers in society May 22, 2020 A hands-on state has served society well during recent weeks. A selectively hands-off state is now needed for the economy to bounce back. Except during war it is hard to think of any other circumstance when decisive government intervention is more needed than during a deadly pandemic. However, the Coronavirus story is not only a [...]
Oil prices hit highest levels since March as demand recovers May 21, 2020 Global oil prices today rose to their highest levels since early March as the market grew more stable due to global production cuts. Worldwide benchmark Brent crude rose 2.5 per cent to reach $36.64, while US standard West Texas Intermediate hit $34.30. Both measures were trading at their highest points since 11 March, before a [...]
Coronavirus: UK death toll rises by 338 to reach 36,042 May 21, 2020 A further 338 people have died of coronavirus in the UK, the Department of Health has announced this afternoon. In total, the death toll has now reached 36,042, as of 5pm yesterday evening. There were also 2,615 more confirmed cases of the virus, taking the total number of cases in the UK to 250, 908. [...]
Crisis has taught leaders the value of compassion May 20, 2020 With more pressure on our political system than ever, we must not forget what really counts – our compassion and soft power. In a matter of weeks, all our lives have been transformed in ways that we never thought we would accept: our freedoms limited, our employment insecure, our children temporarily uneducated and our bank [...]