UK and EU should reach trade deal, says BoE governor Andrew Bailey October 8, 2020 Bank of England governor Andrew Bailey said he believed the UK and European Union should be able to reach a trade deal. “I do think it is in the interests of both sides – let’s be blunt – to get an agreement,” he said. Read more: BoE’s Andy Haldane warns against ‘Chicken Licken’ economic pessimism [...]
Liverpool mayor rejects plans to shut pubs and restaurants across north of England October 8, 2020 The mayor of Liverpool has come out against potential plans for any further restrictions across the north of England, such as pub and restaurant closures. Steve Rotheram called it “deeply disappointing” that new Covid-19 restrictions could be in place from Monday. “At the moment we have a patchwork of local measures across the country and [...]
UK businesses plan to cut jobs and investment, survey shows October 8, 2020 UK businesses expect to cut staff levels and investment over the next year, according to a new survey, with the outlook “stuck in the doldrums”. The Institute of Directors’ (IoD) survey showed that bosses’ optimism about the economy plateaued in September, having risen since the coronavirus-induced lockdowns of the spring. The UK economy shrunk by [...]
New OBR chief says public debt sensitive to rate moves October 7, 2020 The new head of the UK’s budget watchdog has said the country’s public finances have become more sensitive to changes in interest rates because of a change in borrowing terms. However, Office for Budget Responsibility (OBR) board member Sir Charlie Bean said people should not think there is “great urgency” in closing the government’s budget [...]
FTSE 100 flat after Donald Trump ends US stimulus talks October 7, 2020 The FTSE 100 flatlined after US President Donald Trump abruptly ended talks between Republicans and Democrats over the next round of fiscal stimulus. London’s blue-chip index was just 0.06 per cent higher at 5,953.6 points as it approached midday. The FTSE 250 was up 0.17 per cent. Read more: US stocks fall after President Trump [...]
UK house prices jump again in September as market defies gravity October 7, 2020 UK house prices rose at the fastest pace in four years in September despite the raging coronavirus pandemic as people working from home sought more space, according to the Halifax house price index. Yet the lender said it is “unlikely” that the British housing market will “remain immune” to the historic economic slowdown. House prices [...]
Fall in German factory output a temporary setback, economists say October 7, 2020 German factory output unexpectedly fell in August, raising alarm bells about the health of Europe’s biggest economy. But economists have backed the sector to resume its mixed recovery in September. Industrial output fell 0.2 per cent in August after rising 1.4 per cent in July, the Federal Statistics Office said today. The August figure was [...]
Be brave Mr Sunak… and keep spending October 7, 2020 Since Rishi Sunak stepped into the suddenly vacant 11 Downing Street back in February, he’s proved a fleet-footed chancellor, earning praise for the speed at which he launched the furlough programme, provided cash support to struggling companies, and stood behind the economy as the pandemic took hold. He quickly realised that extraordinary times required extraordinary [...]
Rishi Sunak mulls plans to block suspect companies listing on stock exchange October 7, 2020 Chancellor Rishi Sunak is considering plans to block suspect companies from listing on the London Stock Exchange (LSE) on national security grounds. Sunak is said to be rolling out a consultation on the details over the next few weeks, following mounting pressure from MPs who fear the stock exchange is vulnerable to foreign powers, the [...]
Following the science? This government lacks a basic grasp of the scientific method October 7, 2020 Verification and validation. It is hard to imagine a more nerdy phrase. But it is, in essence, how science makes progress. It is what we have to do to check whether a scientific claim or theory is correct. And it has been seriously neglected during the Covid-19 crisis. Just over a century ago, for example, [...]