Economic recovery will be determined by public policy, says BoE’s Haldane July 7, 2020 The UK’s path to economic recovery will be determined by the course of public policy, the Bank of England’s chief economist Andy Haldane said today. “Our economic destiny lies not in the stars but to a significant extent in ourselves, in what policy course we choose,” Haldane said in an online webinar. “What is done [...]
Met Police refers itself to police watchdog over racial profiling July 7, 2020 The Metropolitan Police has referred itself to the police watchdog after a stop and search involving black British athlete Bianca Williams. The Team GB sprinter claimed officers racially profiled her and her partner Ricardo dos Santos, a Portuguese 400m runner, were stopped in Maida Vale over the weekend. Williams accused the Met of racially profiling [...]
Sadiq Khan commits an additional £2m to help Londoners retrain during pandemic July 7, 2020 Sadiq Khan is making an additional £2m available for training opportunities to help Londoners, many of whom have been furloughed or made redundant during the pandemic. The London mayor launched his Skills for Londoners Covid-19 Fund in May with an initial allocation of £6m. However, given the high levels of demand across the capital it [...]
Deutsche Bank fined $150m for compliance failures linked to Jeffrey Epstein July 7, 2020 Deutsche Bank has been fined $150m for compliance failures in connection with its relationship with Jeffrey Epstein, Danske Bank Estonia and FBME Bank. The New York Department of Financial Services has today accused Deutsche Bank of “a series of procedural failures” and “sloppiness” in how it dealt with Epstein’s accounts. It also said the bank, [...]
UK unemployment rate could hit 15 per cent with second Covid wave, says OECD July 7, 2020 The UK unemployment rate could soar to 15 per cent if there is a second wave of coronavirus infections, the OECD has said. Even without a second wave, the global economic organisation reckons unemployment could hit 11.7 per cent, a level not seen since the 1980s. It comes as the UK gradually reopens its economies [...]
To avert an unemployment crisis, the government must act now and equip workers for the post-pandemic world July 7, 2020 Tomorrow, the chancellor will rise to make his economic statement with the country teetering on the edge of the worst unemployment crisis since the Great Depression. Around 10 million people face the possibility of losing their jobs. Clearly not all of them will, but as the furlough scheme unwinds, half of businesses say they expect [...]
AIM high: At 25, the junior index is coming of age July 7, 2020 In June, AIM turned 25 years old. The index has passed its somewhat risky youth and maturity is treating it well. With stripped-down regulatory and governance requirements, the junior exchange has, over the past 25 years, offered companies an easier platform to raise capital. As the London Stock Exchange puts it, “AIM helps founders and [...]
Rolling up our sleeves for education: Addressing the most important challenge of the 21st century July 6, 2020 Around the world, 1.5bn children were forced out of their classrooms overnight by Covid-19. School closures required families and schools to readjust to new learning environments. And while some families made a seamless transition from school to homeschool, a disproportionate number of children from underserved communities faced another hurdle to receiving a basic education. Simple [...]
Pride in a pandemic: Putting intersectionality top of the agenda July 3, 2020 The most vulnerable and marginalised members of society have faced the worst consequences of this global health crisis. Coronavirus has highlighted the many ways in which issues related to gender and sexual identity, race, and socioeconomic circumstances all intersect. Equality is becoming one of the defining narratives of this pandemic. People are waking up to [...]
Rishi Sunak to make an announcement on jobs support next week, says PM July 3, 2020 Chancellor Rishi Sunak will make an announcement on the government’s coronavirus jobs support schemes next week, Prime Minister Boris Johnson said today. “You’ll be hearing more about what we’re going to do to support people next week from the chancellor Rishi Sunak,” he told LBC in response to a question about what would happen once [...]