US labour market roars back to life as firms hire 850,000 workers in June July 2, 2021 US businesses embarked on a hiring spree in June, with the American economy adding 850,000 jobs, new figures published today reveal. The sharp rise builds on May’s 583,000 increase, triggered by companies seeking to boost output to cope with surging demand. The gains in hiring blew away predictions by experts. Economists polled by Reuters had [...]
London IPOs record best start in seven years July 2, 2021 Floatations and fundraisings in the City recorded their best start in seven years, according to figures published today. Total equity raised in London topped £27bn in the first six months of this year, driven by strong investor appetite for high-profile listings such as software firm Darktrace. 49 IPOs raised over £9bn in the first six months [...]
OECD: Ireland snubs global tax deal July 2, 2021 Ireland refused to sign a major agreement to overhaul the global corporation tax regime on Thursday. 130 countries and jurisdictions agreed to the deal brokered by the Organisation for Economic Cooperation and Development, which paves the way for sweeping international changes. The new regime will see a global tax for 100 of the world’s largest [...]
On the prowl for a new global goal for nature: will the UN pounce on “nature positive by 2030”? July 2, 2021 | City Talk 20 years ago I gave a talk to a group of investors about why it was important to think about issues beyond profit in investment decisions. I gave an example of an oil spill. I showed them pictures of environmental damage, of polluted waterways, habitat destruction and oil-soaked birds. My talk bombed – they weren’t [...]
Former competition chief urges government to speed up CMA overhaul July 2, 2021 The former chairman of the UK’s competition watchdog has called on the government to speed up an overhaul of the organisation. Lord Andrew Tyrie, who chaired the Competition and Markets Authority from 2018 to 2020, warned that the organisation’s effectiveness will be eroded unless it is urgently reformed, in a report published today. Speaking to [...]
‘Buoyant’ UK job market had 200,000 new advertisements last week July 2, 2021 Almost 200,000 new UK job advertisements were posted in the last week of June, according to the Recruitment and Employment Confederation (REC). The REC said demand for staff is now “buoyant” across the UK as the country’s post-Covid economic recovery picks up steam. There are now a little more than 1.5m job vacancies across the [...]
Home Office to allow late EU Settlement Scheme applications after website crashes July 1, 2021 Home Office to allow late EU Settlement Scheme applications after website crashes
US jobless claims drop to new pandemic low July 1, 2021 The number of Americans applying for unemployment aid dropped to its lowest level since the onset of the pandemic, new figures released today reveal. The US Labor Department reported Thursday that jobless claims dropped by 51,000 to 364,000. The figures provide further evidence that the US labour market is rebounding strongly from the damage inflicted on it [...]
Bailey attempts to quash inflation fears July 1, 2021 Andrew Bailey has reiterated that the Bank of England is not concerned about the recent surge in inflation, attempting to quash mounting concerns that price rises may soon spiral out of control. Speaking at his annual Mansion House speech, the Governor of the Bank of England moved to temper fears that prices in the UK [...]
UK manufacturing growth slows in June July 1, 2021 Growth in the UK’s manufacturing industry slowed over the last month, according to a closely watched business survey published today. The IHS Markit/CIPS Purchasing Managers’ Index dropped to 63.9 in June, down from May’s record high of 65.6. A reading above 50 indicates growth in the industry. Read more: British savings jump during lockdown as [...]