Almost half of firms plan to cut or stop hiring amid pandemic September 18, 2020 Almost half of UK firms expect to reduce recruitment or stop hiring new employees altogether over the coming year as they adjust to life during the coronavirus pandemic, a survey has found. The latest CBI/Pertemps employment trends survey said a “two-speed” job market had emerged. It found 46 per cent of firms were looking to [...]
UK small business recovery stalls as firms adapt to Covid September 18, 2020 The recovery among UK small businesses slowed in August as demand for services dropped, according to a new survey, in a worrying sign that the economic rebound is running out of steam. Natwest, who produced the survey, said there was a “widening gap” between big businesses and smaller firms, the latter of which employ the [...]
No new 2p or £2 coins to be made for a decade September 18, 2020 The Royal Mint has no plans to make any new 2p or £2 coins for the next decade, as cash usage in the UK continues to decline. Only 30 per cent of transactions made in the UK last year used cash, compared to 60 per cent in 2009. However cash is still relied upon by [...]
London Stock Exchange in exclusive talks with Euronext over Borsa Italiana September 18, 2020 The London Stock Exchange has entered exclusive talks with Paris-based Euronext about selling Borsa Italiana, Italy’s only stock exchange, it announced today. It comes as the London Stock Exchange (LSE) tries to win European regulatory approval for its $27bn (£21bn) purchase of data provider Refinitiv. The LSE announced in July that it may sell MTS [...]
Travel stocks hit turbulence amid UK lockdown fears September 18, 2020 Travel stocks took a fresh beating in early trading this morning amid rising fears that the UK could be set for a new nationwide lockdown. British Airways owner IAG led the FTSE 100 fallers this morning, tumbling more than eight per cent. Budget airline Easyjet was also down almost seven per cent, while rivals Ryanair [...]
Rishi Sunak’s Kickstart scheme can help blunt the impending youth unemployment crisis September 18, 2020 This week’s unemployment figures from the Office for National Statistics paint a gloomy picture for Britain’s young people. In the UK those aged 16 to 24 have been hit hardest by job losses since the economy locked down. There were 156,000 fewer young people in employment in the three months to July when compared with [...]
Oil prices reverse losses as Opec cracks down on over production September 17, 2020 Global oil prices sprung upwards this afternoon after producer group Opec+ said that it would crack down on those countries which did not comply with its record output cuts. Delegates are also planning an extra meeting in October if global oil markets weaken again, further reassuring traders. Worldwide benchmark Brent crude reversed its losses and [...]
New Zealand falls into worst recession on record September 17, 2020 New Zealand has fallen into the worst economic recession on record in the second quarter, as well as its first recession in more than a decade. GDP in the country contracted a seasonally adjusted 12.2 per cent between April and June compared to the previous quarter, marking its steepest quarterly contraction since records began. It [...]
FTSE 100 and US stocks slide following central bank announcements September 17, 2020 The FTSE 100 continued trading in the red after the Bank of England announced it would keep monetary policy on hold, while Wall Street opened lower as tech stocks slumped. The blue-chip index dropped 0.7 per cent before inching up marginally to trade down 0.4 per cent after the bank said the economy’s recovery had [...]
US jobless claims slip but rebound loses steam September 17, 2020 The number of Americans making new jobless claims fell slightly last week, but stayed at a very high level in a sign that the jobs recovery is losing steam. New jobless claims came to 860,000 in the week to 12 September, the Labor Department said today. That was down from 893,000 the week earlier, although [...]