HMRC set to recover £1bn of fraudulent furlough cash over two years June 9, 2021 Over £1bn of fraudulent or mistakenly claimed furlough cash is set to be recovered over the next two years, HMRC has said. Since the introduction of the furlough scheme in March 2020, more than £60bn has been claimed by employers as it protected over 11m employees. In the March Budget, the government announced the scheme [...]
Wall Street creeps higher as investors await cues on tapering and inflation June 9, 2021 Wall Street’s main indexes edged higher today but a lack of clear catalysts kept trading slow while investors awaited inflation data and an upcoming Fed meeting. The Dow Jones Industrial Average was up 0.1 per cent, while the S&P 500 gained 0.2 per cent at the open. Meanwhile, the tech-heavy Nasdaq rose 0.4 per cent, [...]
Oil prices hit highest levels in years as recovery revs up June 9, 2021 Global oil prices rose to their highest levels in several years as demand for fuels continues to recover amid loosening Covid-19 restrictions. After rising over 1.0 per cent yesterday, worldwide standard Brent Crude hit $72.83 per barrel earlier today, its highest levels since May 2019. And West Texas Intermediate also gained a further 0.3 per cent, [...]
Wall Street inches higher on tech stocks boost while FTSE 100 flies June 8, 2021 Wall Street’s main indexes rose tepidly this afternoon as investors held their breath ahead of key US inflation data this week. The Dow Jones Industrial Average was flat, while the S&P 500 per cent gained 0.2 per cent at the open. Meanwhile, the tech-heavy Nasdaq rose 0.4 per cent as Tesla’s shares rose 2.9 per [...]
21 June reopening: Decision may be made before vaccine’s effect on Delta variant known June 8, 2021 Decision to reopen on 21 June may be made before data on Covid vaccine's effectiveness on Delta variant known
London Metal Exchange set to reopen iconic trading ring in September June 8, 2021 The London Metal Exchange’s open-outcry trading ring is set to reopen in September, in a reversal of plans announced earlier this year, but will still press ahead with digital trading. The trading ring, with its distinctive red circular sofa, was closed in March 2020 for the first time since the Second World War due to [...]
EU warns it will start trade war if UK overrides Brexit treaty’s Northern Ireland protocol June 8, 2021 The EU has warned Boris Johnson that the bloc is ready to act “firmly and resolutely” to ensure the UK abides by its commitments in the Northern Ireland Protocol, as part of the UK-EU Brexit deal. The UK is unilaterally planning to extend a “grace period” to allow Northern Irish shops to continue selling chilled [...]
UK to see ’employment boom’ as lockdown restrictions ease June 8, 2021 Employers plan a huge recruitment drive, fuelled by the easing of lockdown restrictions, according to a new report out this morning.
Millennial savings app Plum moves into pensions June 8, 2021 The popular savings app which has turned to TikTok to lure young investors is now turning its attention to retirement savings. Plum, which launched in 2017, is rivaling the cheap trading apps like Robinhood by moving into the investment space. It anticipated a growing interest among millennials around savings and investments with which has only [...]
Wall Street flat but FTSE ticks up as investors await inflation data June 7, 2021 Wall Street’s main indexes were muted this afternoon as investors stayed on the fence ahead of key inflation data this week, while tech stocks shrugged off a G7 agreement on a new global corporate tax minimum. The Dow Jones Industrial Average and S&P 500 dipped 0.46 and 0.26 per cent respectively by early evening trading. [...]