Before the Bell: UK unemployment set to rise to four year high January 26, 2021 On the data front we have the latest unemployment numbers from the UK this morning, for the three months to November, coming up shortly. In his spending review announced in November, Chancellor of the Exchequer Rishi Sunak forecast that UK unemployment could well peak in the second quarter of 2021 at 7.5 per cent, and [...]
Thames have changed: CEOs going green will reap the benefits January 26, 2021 WHEN Paul Polman drank a glass of water drawn from the murky River Thames a decade ago the Dutchman could hardly have imagined how many of his peers would follow suit. Not by matching his dubious consumption, but by attempting to generate more from the companies they run than profit alone. Polman’s stunt took place in November [...]
Going digital? Hold up – hybrid events will be the future January 26, 2021 In recent years, much of the technologically-minded business community has decamped to the windowless, air-conditioned rooms of Las Vegas for the annual Consumer Electronics Show. Despite being the showcase for all things digital – from autonomous vehicles to intelligent fridges – it has always been a distinctly physical event. And while many complained of being [...]
FTSE 100 closes at three-week low as ministers mull hotel quarantine for arrivals January 25, 2021 FTSE 100 closes at three-week low as ministers mull hotel quarantine for arrivals
Post-COVID: When will the UK economy recover? January 25, 2021 The emergence of a vaccine may mean that there is light at the end of the pandemic tunnel, but as Rishi Sunak pointed out in his spending review, the economic fallout has only just begun. The Chancellor revealed the coronavirus pandemic would raise Government borrowing in 2020 to a peacetime record of £394 billion, while [...]
The nascent UK cryptoassets industry – Post-brexit opportunity? January 25, 2021 The start of 2021 heralded new rules governing the relationship between the UK and EU. While the scope for cross-border financial services provision between the UK and the EU still remain unclear in the final hour Brexit deal, it seems likely that regulatory “equivalence” will continue for most areas of traditional financial services (e.g. including [...]
Men in low-skilled jobs had highest Covid death rate last year January 25, 2021 Men in low-skilled jobs had the highest rate of death from Covid among workers in England and Wales last year, according to the latest official figures. There were 7,961 coronavirus-related deaths registered among the working age population — aged 20 to 64 years — between 9 March and 28 December last year, according to data [...]
Universal Credit support to be reviewed by govt January 25, 2021 The government plans to review the support those on welfare receive during the pandemic, the work and pensions minister said today. Minister Therese Coffey, when asked whether a boost to Universal Credit would be extended, said that the benefit is being reviewed. “We’re in active discussion with the Treasury, working together to try and make [...]
Shock to the system: Ofgem proposes new body to run electricity network January 25, 2021 Ofgem has this morning submitted proposals for the creation of an independent body to run the UK’s electricity network, in what would be a radical shake-up of the way the country’s power is managed. Such a body, the watchdog says, could save consumers up to £4.8bn by 2050, while leading the country’s charge towards net [...]
Rishi Sunak’s £2bn Kickstart programme creates 120,000 jobs January 25, 2021 The Treasury’s £2bn Kickstart scheme has so far created 120,000 jobs for young people since being launched last September. Kickstart, which is open for 16 to 24-year-olds, has also been modified to remove the previous threshold that forced companies to create at least 30 openings to be involved in the scheme. The programme sees UK [...]