Government urges firms to hire under-25s through free ‘kickstart’ scheme September 2, 2020 UK companies can offer six-month work placements to young people – with wages paid entirely by the government – under the “kickstart” scheme launched today. The government urged businesses to sign up and “take advantage of the enormous pool of potential out there”. It warned that young people “could otherwise be left behind as a [...]
Australia plunges into recession as Covid-19 sparks record slump September 2, 2020 Australia has plunged into its first recession in nearly three decades after the coronavirus crisis sparked the country’s worst economic slump on record. Australia’s gross domestic product (GDP) shrank seven per cent in the three months to the end of June — the largest fall since records began. It follows a 0.3 per cent fall [...]
DEBATE: Should we be worried about a tech bubble? September 2, 2020 Should we be worried about a tech bubble, particularly in emerging markets? Tatjana Puhan, managing director and deputy chief investment officer at TOBAM, says YES. Over recent years, we see a clear trend of investors becoming exposed to higher concentration risk in specific sectors like technology. Having represented already a considerable risk exposure in major [...]
The national productivity recovery depends on getting people back to the office September 2, 2020 Office workers continue to display reluctance to return to their workplaces, despite encouragement from the government for them to head back. The immediate consequences for the service jobs in cities which depend on people commuting into the office are apparent, hence the government drive. But is office work a good thing for the workers themselves? [...]
Protest to call for London Stock Exchange to delist £1bn of Belarus bonds September 1, 2020 The London Stock Exchange has been hit by calls to delist almost £1bn of Belarus government bonds in the wake of alleged vote rigging by the country’s President Alexander Lukashenko. In June, the Belarusian government listed $1.25bn (£930bn) of bonds on the London Stock Exchange for the first time. A group of Belarus expats – [...]
FTSE 100 slides as pound surges but US stocks continue to rise September 1, 2020 The FTSE 100 slumped as the pound soared, but the relentless rise of the big US tech companies continued on a choppy day’s trading. London’s blue-chip stock index slid 1.8 per cent to stand at 5,859 points in afternoon trading. The FTSE 250 index of mid-cap firms shed one per cent. Read more: Asian markets [...]
US factories grow at fastest pace in 19 months as recovery continues September 1, 2020 Activity in the US manufacturing sector rose at the fastest pace since the start end of 2018, a survey has shown, although factories continued to slash jobs. The Institute for Supply Management’s (ISM) manufacturing purchasing managers’ index (PMI) rose to 56 in August from 54.2 in July. It was the highest score since November 2018 [...]
FTSE 100 reshuffle: ITV set to tumble from the big league September 1, 2020 The FTSE 100 is set for another dramatic reshuffle as the blue-chip index adapts to life during the coronavirus pandemic, with telly stalwart ITV almost certain to drop from the list and bargain retailer B&M likely to rise. FTSE Russell, which runs the index, will decide who’s up and who’s down according to prices at [...]
Germany upgrades growth forecast to reflect ‘V-shaped’ recovery September 1, 2020 The German economy will shrink by less than initially expected this year and GDP will recover its pre-coronavirus size by the start of 2022, the country’s government predicted today. Economy minister Peter Altmaier said the government now predicted the economy would shrink by 5.8 per cent this year, compared to a previous estimate of 6.3 [...]
UK factories grow at fastest pace in six years but continue to slash jobs September 1, 2020 The UK manufacturing sector’s output grew at the fastest pace in more than six years in August as factories continued to recover from the coronavirus lockdown, a survey has shown. However, the sector was far from its pre-coronavirus size and firms laid off workers at a rapid rate as they adapted to the new economic [...]