The Friday interview: Gary Boom on wine, trading and virtual tastings July 3, 2020 Nothing has been immune from the disruption wrought by Covid-19 and the wine industry is no different. City A.M. talks to BI Fine Wine chief Gary Boom about Bordeaux tastings, the wine industry and the value of an alternative asset class. “Here’s your routine when you start: it’s nine o’clock first tasting, with seven wines. [...]
Young people face economic ‘scarring’ from Covid, says top think tank July 3, 2020 The coronavirus recession has dealt a double blow to young people in the UK, who are more likely to have lost their jobs amid the lockdown and now face bleak career prospects, a leading think tank has warned. New research from the Institute for Fiscal Studies (IFS) today said the carnage in the hospitality and [...]
Covid Recovery Commission: FTSE 100 bosses unite to set UK economy back on track July 3, 2020 Some of the biggest names in UK business have teamed up to create a pressure group to ensure the economy emerges from coronavirus “stronger and fairer”, its members announced today. The group will be called the Covid Recovery Commission, and will involve the chairs of FTSE 100 powerhouses Tesco and Shell and the chief executives [...]
FTSE bosses: Businesses ready to kickstart UK recovery July 3, 2020 This weekend the UK economy takes a few more important steps towards reopening and rebuilding. And in spite of the human toll the coronavirus has had, so far the public are strikingly optimistic about the future. According to the Edelman Trust Barometer, two-thirds of people believe the pandemic will result in improvements in how we [...]
Shadow chancellor Anneliese Dodds to renew calls for July budget July 2, 2020 Shadow chancellor Anneliese Dodds will renew calls tomorrow for a July “back to work budget” in her first major set piece speech since being appointed to the role. She will urge chancellor Rishi Sunak to “recognise the scale of the challenge we face” and pledge a summer budget that focuses on “jobs, jobs, jobs”. Dodds, [...]
Nasdaq hits all-time high after data shows record jobs growth in US July 2, 2020 Wall Street surged on Thursday, with the Nasdaq hitting an all-time high as strong US jobs data and renewed hopes of a coronavirus vaccine buoyed equities. The FTSE 100 also rose on optimism over a possible vaccine, ending the session 1.34 per cent up. The midcap FTSE 250 added 1.04 per cent. Read more: Primark [...]
China’s new Hong Kong law ‘a betrayal’, says US Vice President Pence July 2, 2020 US Vice President Mike Pence has described China’s new national security law covering Hong Kong as a betrayal of an international agreement. Politicians in the US and UK have condemned the legislation, which was introduced earlier this week, as an attempt by Beijing to crack down on dissent in Hong Kong. “The national security law [...]
Brexit: UK vows to complete City of London assessments in two weeks July 2, 2020 The government has vowed to hand over paperwork to ensure the City of London maintains post-Brexit EU access within the next two weeks, after missing the initial deadline. The UK was supposed to hand over 28 regulatory equivalence assessments by Monday for the EU to assess if it would allow access to Britain’s financial services [...]
EU banks take on Visa and Mastercard with ‘truly European’ payments system July 2, 2020 Some 16 banks from across the EU have said that they expect to have a “truly European” payments system up and running in 2022, to help digitise a region in which half of all retail payments are made in cash. European Union policymakers and central bankers have long sought to develop a home grown rival [...]
Tesla shares accelerate as car deliveries top estimates July 2, 2020 Shares in Tesla popped eight per cent as trading began today, after it posted second-quarter delivery numbers that surpassed expectations. Tesla delivered 90,650 vehicles during the quarter, above estimates of 74,130 vehicles, according to Refinitiv data. It delivered 80,050 units of its new Model Y sport utility vehicle and Model 3 sedan for the quarter. [...]
