Shaun Bailey: Mayor’s £70m Good Growth Fund created only 109 jobs since 2017 February 23, 2021 Mayor Sadiq Khan faces criticism from Shaun Bailey over Good Growth Fund which has only produced 109 jobs
Alphabet-backed health insurance startup Oscar aims to raise more than $1bn in upcoming IPO February 22, 2021 Oscar Health Insurance is planning on raising more than $1 billion in its IPO.
Sterling rises to a three-year high February 22, 2021 Sterling rose to a three-year high against the dollar today as investors bet on the UK’s vaccination success bringing about a speedy economic recovery. Sterling achieved $1.4073 against the dollar this afternoon. It reached its highest levels since April 2018 when it broke the $1.40 barrier on Friday and has risen 2.9 per cent against [...]
UK PMIs: UK firms fare less badly than expected February 19, 2021 UK firms had a more positive February than anticipated so far, with firms eyeing growth prospects later in the year as the vaccine roll-out continues. The IHS Markit/CIPS purchasing managers index (PMI) jumped to 49.8 in February from 41.2 in January, a far swifter improvement than what was originally feared. The index indicated some stabilisation [...]
Public sector borrowing hits £8.8bn in first January deficit for a decade February 19, 2021 Public sector net borrowing ballooned to £8.8bn last month, marking the first January deficit for a decade. The figure is £18.4bn more than in the same month last year and is the highest January borrowing amount since records began. Public sector borrowing is now estimated to have reached £270.6bn in the first 10 months of [...]
Speedy vaccinations give more UK SMEs hope of a revenue rebound in 2021 February 19, 2021 Small and medium sized enterprises (SMEs) across the UK have been offered a glimpse of hope this morning, as nearly a quarter have surpassed their pre-pandemic levels of output.
Wall Street joins FTSE in the red following gloomy jobs data February 18, 2021 Wall Street faced a sea of red this morning as shares slid across the board after an unexpected rise in weekly jobless claims highlighted the fragile labour market recovery. A report from the US Labor Department showed initial claims for state unemployment benefits were 861,000 last week, compared with 848,000 in the prior week. The [...]
New US jobless claims rise unexpectedly by 861,000 February 18, 2021 US jobless claims rise unexpectedly to 861,000
Keir Starmer proposes UK ‘recovery bond’ and loans for 100,000 new businesses February 18, 2021 Sir Keir Starmer has proposed giving start-up loans to 100,000 new UK businesses and creating a new “British recovery bond” in a bid for Labour to forge a “new partnership with business”. Starmer’s set piece speech outlined his party’s new economic policy direction under his leadership, saying that “for too long Labour has failed to [...]
REC: Recruitment is £7.7bn key to economic bounce back February 18, 2021 Recruitment is the key to economic recovery, the Recruitment & Employment Confederation (REC) has said today, as recruitment firms boost productivity by £7.7b each year. However, far more can be achieved as new research found that only half of people think that companies are doing a ‘good job’ at recruiting efficiently. A below standard hire [...]