Biden budget sees $6tn of spending and tax hikes on the wealthy May 29, 2021 US President Joe Biden’s first budget includes spending provisions that would see the country’s debt hit 117 per cent of GDP over the next decade. Biden announced the plans last night, with a $6trn (£4.3trn) spending boost at the centre. Read more: Put-in the diary: Biden to meet Russian President in June The President has [...]
The City View podcast, with Rebecca Vincent and Jeanette Makings May 28, 2021 In this latest episode of The City View, Andy Silvester speaks to two women doing extraordinary things. Rebecca Vincent is the Head of Campaigns at Reporters Without Borders, a group which campaigns for press freedom across the world. Andy and Rebecca talk about slipping standards across the world and how we can address the slide. [...]
MPC member: Smooth furlough transition could see earlier rate rise May 27, 2021 An interest rate rise could be necessary in the first part of next year if the UK’s transition out of the furlough scheme does not come with a hike in unemployment, a Monetary Policy Committee member said today. Dr. Gertjan Vlieghe said that he expected an interest rate rise to become appropriate “only well into [...]
Zinedine Zidane to leave Real Madrid after season without a trophy May 27, 2021 Zinedine Zidane has left Real Madrid for a second time as a manager after the Spanish powerhouse finished the 2020-21 season without a trophy. Real said they respected the decision of their former player Zidane, who returned to the Santiago Bernabeu dugout in 2019. They said his “professionalism, dedication and passion” over the years would [...]
Covid passports slammed by host of MPs including Corbyn and IDS April 2, 2021 The use of Covid passports would be “discriminatory” and “counter-productive,” a cross-party coalition of MPs today warned the Government. A review is currently under way to decide how best to reopen busier venues as well as international travel, with some form of documentation proving either a vaccinations against Covid-19 or a negative test result likely [...]
FTSE 100 and US stocks slip as market optimism dips December 18, 2020 The FTSE 100 fell along with European and US stocks as optimism faded on trading floors, with doubts creeping in about a US stimulus bill and fresh tensions with China. London’s main stock index was down 0.2 per cent in the afternoon session to 6,539 points. The FTSE 250, which is more domestically focused, fell [...]
Furlough scheme to be extended until April and loans to continue, too December 17, 2020 The Chancellor has confirmed today that the furlough scheme will be extended an extra month until the end of April 2021. The scheme had been intended to close in March, itself an extension from an original planned end date in the middle of 2020. The furlough programme pays 80 per cent towards wages of unworked [...]
New: European Parliament paves way for emergency Brexit session December 17, 2020 The European Parliament ‘stands ready’ to convene an emergency session before the end of the year if the United Kingdom and the European Union can strike a deal by midnight Sunday. In a statement, bosses said if a deal was struck by “midnight on Sunday 21December” and though this is not in fact the date [...]
Sunak: Covid schemes could stave off damage from Brexit turbulence December 17, 2020 The Chancellor Rishi Sunak has said that Coronavirus support schemes could provide insurance against the economic impact of Brexit. “For businesses that need liquidity to get through a temporary time, we’ve got very generous… loan programmes for anyone who is having trouble with costs and employment,” he told The Spectator in a wide-ranging interview. It [...]
Fed ups 2021 growth forecast but warns of a tough winter December 17, 2020 Federal Reserve chief Jerome Powell said late on Wednesday evening that there were reasons for optimism in 2021 but the coming months would be “particularly challenging.” In a statement issued by the Fed’s Open Market Committee, the body also indicated that debt buying would continue until “substantial further progress” is seen on both employment and [...]