Two-thirds of Brits think coronavirus bailouts should have strings attached July 2, 2020 Almost two-thirds of Brits think large companies should only receive public bailout money if they agree to conditions such as protecting jobs and reducing carbon emissions, according to polling published today that adds to pressure on the Bank of England. Financial campaign group Positive Money and pollster Yougov found that 63 per cent of the [...]
Accenture to cut up to 900 UK jobs as coronavirus bites July 1, 2020 Consultancy firm Accenture is planning to axe up to 900 jobs in the UK as the firm tries to cut costs to deal with the coronavirus crisis and an uncertain future. Accenture is a US firm headquartered in New York, but it employs more than 10,000 people in the UK. The job cuts are part [...]
US manufacturing sector rebounds as states lift lockdowns July 1, 2020 The US manufacturing sector rebounded sharply in June, survey data showed today, fuelling hopes that the world’s biggest economy is on its way back to normality as coronavirus restrictions are lifted. The manufacturing purchasing managers’ index from the Institute for Supply Management (ISM) jumped to 52.6 in June from 43.1 in May. A score of [...]
S&P: Brexit to hold back UK economy’s coronavirus recovery July 1, 2020 Credit rating agency S&P has said prolonged social distancing and Brexit will hold the UK economy’s recovery from coronavirus, disagreeing with the Bank of England’s optimistic view about a sharp rebound. S&P Global Ratings today said it expects the UK economy to shrink by an enormous 8.1 per cent this year. And it said the [...]
FTSE 100 jumps as investors cheer surprise US jobs figures June 5, 2020 The FTSE 100 has jumped as investors go into the weekend in a joyous mood after the US economy added 2.5m jobs in May and the European Central Bank (ECB) ramped up its stimulus measures. The blue-chip index was up two per cent at 6,468 points in afternoon trading. It put the FTSE 100 on [...]
US stocks surge after employment figures smash expectations June 5, 2020 US stocks have surged after shock employment figures that showed 2.5m Americans found jobs in May in figures that raised hopes the economy will quickly rebound from coronavirus. European markets, already riding high on fresh stimulus and economies reopening, extended their greens as markets turned into a sea of green. Wall Street’s Dow Jones index [...]
‘Mind-blowing’: US economy adds 2.5m jobs as states reopen June 5, 2020 The US unemployment rate has fallen significantly even as coronavirus ravages the economy, shocking economists who were expecting it to surge. The unemployment rate dropped to 13.3 per cent – still extremely high by historical standards – in May from 14.7 per cent in April. This confounded analysts who had predicted it would surge to [...]
BoE governor Andrew Bailey: Fiscal stimulus should keep climate change in mind June 5, 2020 Bank of England governor Andrew Bailey has said stimulus packages from governments to tackle the coronavirus fallout should improve sustainability so as to help tackle climate change. In an opinion article with former governor Mark Carney and other central bankers, Bailey said countries should “build back better” after coronavirus, with green goals in mind. Yet [...]
UK house prices drop for third month running as coronavirus bites June 5, 2020 UK house prices fell for the third month in a row in May as coronavirus continued to plague the property market, according to a closely watched gauge. However, the drop slowed compared to April. Prices fell 0.2 per cent month on month in May, the Halifax house price index showed. This compared with a 0.6 [...]
Chancellor picks Richard Hughes as next head of budget watchdog OBR June 5, 2020 Chancellor Rishi Sunak has nominated an International Monetary Fund (IMF) adviser and former government as the next head of the UK’s budget watchdog. Richard Hughes, who currently also works as a research associate at the Resolution Foundation think tank, said he was “honoured” to be picked as the next chair of the Office for Budget [...]
