EU must boost capital markets due to coronavirus and Brexit, say finance chiefs June 10, 2020 The European Union needs to deregulate its capital markets to help the economy recover from coronavirus and reduce its reliance on the City of London, according to a panel of industry executives. With huge amounts of debt being sold to counter the economic hit caused by Covid-19 and the bloc set to lose its major [...]
Asian shares crawl higher ahead of Fed meeting June 10, 2020 Asian shares crept higher this morning, marking a 10th session of consecutive gains, but slowed momentum on doubts of a swift global recovery from coronavirus ahead of today’s US Federal Reserve meeting. MSCI’s index of Asia-Pacific shares outside Japan climbed 0.3 per cent, while Japan’s Nikkei rose 0.1 per cent. Safe havens such as gold [...]
DEBATE: Is the proposal to suspend Sunday trading laws misguided? June 9, 2020 Is the proposal to suspend Sunday trading laws for a year misguided? Rachael Maskell, Labour MP for York Central, says YES. Shop workers have been at the forefront of responding to our needs during this crisis. They immediately stepped up to meet the demands in their communities to ensure that everyone was able to receive [...]
Empowering communities with alternative currencies towards a post-Covid economy June 9, 2020 With humanitarian operations becoming more frequent, global and protracted, stakeholders are going to need to find alternative, multi-year pools of funding as well as new financial mechanisms to increase effectiveness and efficiency of existing resources. There was a time when humanitarian organisations only focused on short-term emergencies while development organisations focused only on long-term socioeconomic [...]
US jobless claims pass 40m as economy staggers under coronavirus May 28, 2020 A further 2.1m people in the US filed for unemployment claims last week, bringing the total to more than 40m since mid-March. Overall, 40.7m people have applied for unemployment benefits in the last 10 weeks, a quarter of the American workforce, according to new data from the US labor department. Although the new total represents [...]
Inflation post Covid-19: to be or not to be? May 26, 2020 We spoke to two experts who argued the case for and against inflation in the near future and what it means for investments. Abdallah Guezour, Head of Emerging Market Debt and Commodities, and Keith Wade, Chief Economist, discuss the outlook for inflation in the midst of the Covid-19 crisis. Abdallah argues the case for inflation [...]
Balance sheet erosion and impact on share prices May 26, 2020 As the virus has grown, so balance sheets have shrunk. In this global health crisis, it is not just people who are ill. Against conditions already uncertain with a trade war and Brexit, this crisis has shaken the bones of the stock market, exposing fragile finances at more than a few firms. Some zombies, unable [...]
What are negative interest rates and will the UK turn to them? May 22, 2020 Bank of England governor Andrew Bailey this week said he has changed his mind on negative interest rates, saying the BoE is keeping them under “active review”. President Donald Trump has repeatedly made clear that he is a fan of negative rates, and wants the US to have them as it deals with the coronavirus [...]
Which south London pubs are serving pints this weekend? A non-exhaustive list May 22, 2020 The pint. The perfect measure; not too big, not too small. And now available in takeaway milk cartons in a host of pubs across south London. Here’s City A.M.’s very much non-exhaustive list of pubs south of the river that will allow you to have something cold, fizzy and poured by somebody else over this [...]
US sees 2.4m new jobless claims as total nears 40m amid coronavirus May 21, 2020 More than 2.4m Americans made new jobless claims last week, data has shown, as the world’s largest economy continues to shed jobs at a momentous pace during the coronavirus crisis. The latest figure means that roughly 39m new claims for unemployment insurance have been made in the US since March 21. Unemployment has soared to [...]