US unemployment benefit numbers spike on fresh Covid-19 resurgence fears November 19, 2020 The number of Americans filing new claims for unemployment benefits unexpectedly rose last week as new business closures to control the spiraling Covid-19 infections unleashed a fresh wave of layoffs and further slowed the labor market recovery.
UK manufacturing orders drop as near-term outlook darkens November 19, 2020 Britain’s manufacturers suffered a fall in orders in November as governments tightened coronavirus restrictions in a bid to halt the rapid spread of coronavirus, a survey has shown. The CBI’s monthly measure of manufacturing order books fell to a score of minus 40 in November. It had picked up sharply to minus 34 in October, [...]
One in seven UK companies at risk of collapse as recovery slows November 19, 2020 Around one in seven UK companies said they were at risk of collapse as the economy faces a tough winter with coronavirus cases still surging and an England-wide lockdown in place. The Office for National Statistics (ONS) said 14 per cent of UK companies reported having “low or no confidence” that they would survive the [...]
ECB’s Lagarde: EU must release Covid recovery funds ‘without delay’ November 19, 2020 European Central Bank (ECB) president Christine Lagarde has urged EU countries to solve their disagreements over the €750bn (£670bn) recovery fund, amid fears that delays could damage economies facing a tough winter of rising coronavirus cases. Lagarde told the European Parliament that the budget package – which amounts to around €1.8 trillion overall – “must [...]
BoE’s Andy Haldane: Digital currencies could cut risk and boost lending November 18, 2020 Digital currencies could reduce risk in the financial system and aid monetary policy with interest rates close to rock bottom, Bank of England chief economist Andy Haldane has said. Haldane also told The City UK’s annual conference that new technological infrastructure should be considered to help small and medium-sized businesses better access finance after years [...]
UK inflation picks up despite lockdowns as clothing prices rise November 18, 2020 Prices picked up across the UK economy in October, the latest figures have shown, with clothing pushing inflation higher after disruption to the sector earlier in the year. Consumer price index inflation came in at 0.7 per cent on an annual basis last month, the Office for National Statistics (ONS) said. That was up from [...]
It is science, not lockdowns, that will save the world November 18, 2020 The various new vaccines announced over the past two weeks give real hope of a return to normal life. Of course, many practical questions remain. How will these vaccines be delivered? Do they stop the transmission or simply the symptoms of the virus? Exactly how effective will they be outside a controlled trial environment? But [...]
Cabinet confidential: Who will Joe Biden pick as the next US Secretary of the Treasury? November 16, 2020 President-elect Joe Biden has made it clear he wants his government to “actually look like America”, with pundits expecting the most diverse cabinet ever assembled. Speculation is rife Biden will appoint female and Bame candidates to top cabinet roles, including to Secretary of the Treasury and Secretary of State. The former Vice President will have [...]
Hungary and Poland veto EU budget and coronavirus recovery fund November 16, 2020 Hungary and Poland have effectively vetoed the European Union’s budget and coronavirus recovery package in response to plans to make access to funds conditional on adhering to the rule of law. The veto came as top EU officials and countries’ ambassadors today discussed the €1.1 trillion (£990bn) budget, which covers 2021-27, and the €750bn coronavirus [...]
Asian stocks near record high after signing of huge RCEP trade deal November 16, 2020 Asian stock markets rose towards record highs after countries in the region signed the world’s biggest trade deal, which covers nearly a third of the globe’s population and economic output. The main Asian benchmark was on track to close at its highest ever level. China’s SSE Composite index rose one per cent while Japan’s Nikkei [...]