Jay Powell: US economy could shrink 30 per cent over coronavirus May 18, 2020 Federal Reserve chairman Jay Powell has warned the US economy could “easily” decline by 20 to 30 per cent over the coronavirus pandemic. The US central bank boss also warned the economic downturn could continue until late 2021, and there may be no recovery until scientists create a vaccine. Powell called on the Trump administration [...]
Brexit: ‘Tetchier’ trade talks offer little progress, says UK May 15, 2020 The UK has said “very little progress” has been made in the latest round of Brexit trade negotiations with the EU. In negotiations described as “tetchier” by one source, the UK and EU remain far apart on the most divisive key issues on securing a trading relationship after Brexit. Those include fisheries and the so-called [...]
BT shares surge on possible sale of £20bn stake in Openreach May 15, 2020 BT’s share price jumped in early trading today following reports the telco is preparing to sell a £20bn stake in its fibre rollout arm Openreach. The telecom giant’s shares, which have been trading at a record low this year, rocketed 9.25 per cent to 111.6p on a Financial Times report that discussions were underway. BT [...]
London now counts ‘just 24’ new coronavirus cases per day May 15, 2020 Fewer than 24 people are now catching coronavirus on a daily basis in London, according to new research suggesting the capital could soon be virus-free. The research by Public Health England and Cambridge University suggests London could be coronavirus-free as soon as June, based on new modelling statistics. The capital’s virus reproduction rate – known [...]
The City View podcast: Why coronavirus is making the case for e-scooters May 15, 2020 London’s Olympic site now hosts a vast innovation campus, Here East, home to over 4,000 people working in technology, advanced manufacturing, transport and the creative industries. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS It was a thriving, buzzing village but the lockdown has emptied its streets. CEO Gavin Poole talks about how they’re helping tenants and [...]
House price decline hurts Just Group’s solvency ratio May 14, 2020 Specialist pension provider Just Group posted a drop in its solvency ratio today after interest rates plunged around the world over the economic fallout of coronavirus. The insurer told investors its Solvency II coverage ratio has dropped three points to 138 per cent at the end of April 2020. European Solvency II rules stipulate how [...]
UK ready to slash tariffs on US agricultural imports in free trade talks – report May 14, 2020 The UK is ready to cut tariffs on US agricultural imports in order to move talks closer to securing a free trade deal, it is reported. The Department for International Trade is looking at a “big concession package” to US negotiators in the next few months to cut the cost of some agricultural imports, the [...]
The City View podcast: Money laundering and terrorism – compliance in the age of coronavirus May 14, 2020 Christian is joined by Charles Delingpole, founder and CEO of ComplyAdvantage, a compliance and risk management platform using AI and machine learning to keep companies on the right side of the law. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Sanctions, scams and criminal activities all pose huge risks for businesses but how has the pandemic affected [...]
494 more UK coronavirus deaths in last 24 hours May 13, 2020 Another 494 Brits have now died from coronavirus, according to government count of confirmed cases released this afternoon. The new figures bring the total to 33,186 UK coronavirus deaths since the outbreak hit British shores. And another 3,242 people tested positive for coronavirus yesterday to bring the total to 229,705 cases in the UK. The [...]
Coronavirus: UK economy shrinks two per cent in first quarter of 2020 May 13, 2020 The UK economy shrank by two per cent in the first three months of 2020 due to the impact of coronavirus, official GDP data showed today. The slump showed the UK economy’s contracted at its fastest rate since the height of the financial crisis in 2008. The lockdown, which started on 23 March, saw the [...]
