‘Incomplete’ V-shaped economic recovery likely, says Bank policymaker July 15, 2020 The UK economy is likely to go through an “interrupted or incomplete” V-shaped recovery as unemployment and social distancing weigh on growth, a Bank of England rate-setter has said. BoE monetary policy committee (MPC) member Silvana Tenreyro said the UK economy’s recovery will depend on coronavirus cases being brought under control domestically and around the [...]
Premier Oil shares slide as explorer hits reduced production guidance July 15, 2020 Shares in midcap Premier Oil slipped this morning as the company announced that it had hit its reduced production guidance of 65,000 to 70,000 barrels of oil per day. Earlier this year, the exploratory firm reduced its output guidance from 70,000 to 75,000 barrels a day after difficulties at one of its flagship fields. However, [...]
UK inflation beats expectations but stays well below Bank target July 15, 2020 UK inflation increased for the first time this year in June as non-essential shops reopened from coronavirus lockdown, official figures have shown, although it was still well below the Bank of England’s target. UK inflation as measured by the consumer price index came in at 0.6 per cent in June, the Office for National Statistics [...]
Office clusters are as crucial to productivity as they ever were July 15, 2020 The Prime Minister is now demanding that offices reopen to revive economic activity in the centres of towns and cities. But there is not much sign of a return to work. The preferences of the workforce are an important factor in the very slow pace of return. Fears expressed about the safety of public transport [...]
COVID-19: How stock exchanges can help us #BuildBackBetter July 14, 2020 | Sponsored Mark Oliphant, Head of Communications at The International Stock Exchange Group, explores how agile public markets can help the economic and social recovery from COVID-19. Stock exchanges have been somewhat out of fashion in recent years and this seemed to be a trend reinforced earlier this year during the onset of the coronavirus (COVID-19) global [...]
Oil prices slip as Opec prepares to relax production curbs July 14, 2020 Global oil prices slid today amid growing concerns that producer cartel Opec would ease its record production curbs just as a rising number of coronavirus cases threatened to stall the reopening of the world’s economies. US standard West Texas Intermediate fell 0.8 per cent to $39.80, while worldwide benchmark Brent Crude dropped 0.4 per cent [...]
FTSE 100 drops amid rising coronavirus cases and slow growth July 14, 2020 The FTSE 100 fell and US stocks were mixed as rising coronavirus cases around the world and the start of earnings season gave investors the jitters. London’s main stock index was 0.3 per cent lower in afternoon trading at 6,158 points. The FTSE 250 index of slightly smaller companies had fallen 1.4 per cent. Read [...]
UK economy grows by much less than expected after April crash July 14, 2020 The UK economy grew at a much slower rate than expected in May after April’s historic crash, official figures have shown, in a sign that the recovery could be weaker than anticipated. UK GDP expanded by 1.8 per cent in May, the Office for National Statistics (ONS) said, after shrinking by an enormous 20.3 per [...]
The democratisation of trading is long overdue July 14, 2020 | Sponsored Were one to survey the nation on ‘what a trader looks like,’ the responses would likely be myriad: a hybrid of Gordon Gekko and Mark Zuckerberg; a pinstriped but tech-savvy caricature drawn from a life out-of-reach. The reality is far closer to home. The marriage of globalisation and rapid technological uptake over the last two [...]
OBR: Public borrowing set to top £370bn amid worst crash in 300 years July 14, 2020 Government borrowing could skyrocket to a peacetime high of over £370bn this year as the UK economy suffers its worst economic crash in 300 years, the UK’s budget watchdog has said. The Office for Budget Responsibility (OBR) presented three scenarios, each of which said the UK economy would shrink more than 10 per cent in 2020. [...]