US finally passes $900bn stimulus deal as hopes for recovery increase December 22, 2020 Congress last night squeezed through approval of a $900bn stimulus deal intended to give the US economy a much-needed boost. The package has been the subject of tortuous negotiations over recent weeks but an agreement was struck over the weekend. Read more: Could 2021 be the FTSE’s year? The stimulus package will re-capitalise a small [...]
Andrew Bailey faces another tough year at Bank of England in 2021 December 22, 2020 Mark Carney must be thanking the gods he stepped down as Bank of England governor in early March. Since then, his successor Andrew Bailey has had to steer the historic institution through the worst economic downturn in 300 years, complete with a bout of market panic in the spring. Under Bailey’s leadership the Bank slashed [...]
Wanted: A minister for hospitality December 22, 2020 The hospitality industry — which provided work to more than 3.2m people before the pandemic struck — has been hit harder than virtually any other sector by Covid-19. But while the latest ONS figures show that a staggering 78 per cent of businesses in the accommodation and food services industry have been impacted, there is [...]
British Chambers slam “constantly shifting goalposts” in desperate plea to PM December 22, 2020 The British Chambers of Commerce have today warned the Prime Minister that businesses are “on their knees” due to new lockdown restrictions. The body’s President, Baroness Ruby McGregor-Smith, says that the “constantly shifting goalposts” had left many businesses considering “shutting up shop for good.” In her open letter, she calls for the PM to offer [...]
MPs question government’s 2025 broadband target amid 5G concerns December 22, 2020 MPs have questioned the government’s ability to meet its revised-down target for “gigabit-capable” broadband to be delivered to most of the country by 2025, saying the industry faces serious challenges over such a short time-scale. The Digital, Culture, Media and Sport Committee also said the rollout of superfast 5G internet risked creating more “not-spots” in [...]
New figures: Retailers in “significant distress” rises by 24 per cent December 22, 2020 Tens of thousands of retailers are now in significant financial distress as Tier restrictions take their toll. Some 39,232 retailers are believed to be in serious trouble, an increase of 24 per cent on the same period in 2019 and an 11 per cent jump on Q3 this year. Arcadia and Debenhams are amongst those [...]
Joe Biden receives Pfizer’s Covid-19 vaccine live on US television December 21, 2020 President-Elect Joe Biden received the Covid-19 vaccine on US television tonight as the country ups its immunisation efforts. A masked Biden, 78, was injected in his left arm in a hospital in Delaware. Experts had suggested that the President-Elect was fully vaccinated before his inauguration on January 20. “The administration deserves credit for getting this [...]
Our ultimate guide to last-minute Christmas spirits, including our whiskies of the year December 21, 2020 Christmas may be ruined, but things always look better through the bottom of a bottle. If you were planning on stocking up on last-minute gifts before the big day, you may have to rethink. But the silver lining of this new lockdown means you can claw back a few days to pick up the ideal [...]
Congress in race against time to finalise $900bn US stimulus deal late tonight December 21, 2020 A stimulus deal for the US economy, including direct cheques of $600 to many Americans, is set to be voted on tonight in Washington. Bipartisan agreement was finally found over the weekend on the deal, which has been the subject of tortuous negotiation and delay over recent weeks. The deal must be signed by midnight [...]
New: PM criticises border closure and is “working” to a solution December 21, 2020 The Prime Minister has criticised the French government’s decision to block freight from the UK, saying the risk of truck drivers transmitting the new mutant strain of Covid-19 is “very low.” He said he was “working to a solution” and had spoken to French President Emmanuel Macron. Read more: All EU countries ban UK travellers [...]
