Before the Bell: Coronavirus mutation unsettles the market as London faces Tier 3 December 15, 2020 European markets underwent a rather mixed session yesterday, with the FTSE100 underperforming after it was announced that London and a good part of the south east of England was being put into tier 3 restrictions at midnight tonight, due to a new strain of the coronavirus which was spreading at a faster rate. “This of [...]
Foreign aid isn’t charity, it’s an investment in our own prosperity December 15, 2020 When he announced his decision to cut UK foreign aid spending from 0.7 per cent to 0.5 per cent of GDP, chancellor Rishi Sunak, argued that the sum was hard to justify to the British people during a pandemic. In fact, it is not so hard. Aid is not charity, and its benefits are neither [...]
Treasury urged to focus on job creation amid UK ‘unemployment crisis’ December 14, 2020 The government has been urged to take a more active approach to job creation and keep public spending high to avoid “sleepwalking into an unemployment crisis” next year. The House of Lords Economic Affairs Committee said the Treasury should move away from wage subsidies and instead fund jobs in places they are needed such as [...]
FTSE100 company disputes could cost £13.8bn December 14, 2020 Tax disputes with tax authorities globally could cost FTSE100 companies £13.8bn, research by Thomson Reuters shows. This figure Includes £11.7bn in extra tax related to disputes that the companies believe they will ultimately win, however, the FTSE100 set aside £2.1bn to cover the costs of these disputes last year. In total FTSE100 companies were involved [...]
The week ahead, 14-18 December: Shaftesbury, SSP, Petrofac, and interest rates December 13, 2020 All eyes will be fixed firmly on Brussels this week, as businesses across the country hold their breath to see if the UK can finally reach a deal with the EU. With markets on edge as they await the outcome of the talks, there’s little to distract traders, with only a handful of firms reporting [...]
Breaking: Self-isolation period slashed to 10 days from Monday December 11, 2020 The self-isolation period for contacts of people who have tested positive for coronavirus will be cut from 14 days to 10 days from Monday. The change will also apply to people forced to quarantine after returning to the UK from high-risk countries. It means people across the four nations who have already been self-isolating for [...]
Test and Trace to scrap 14-day isolation period for Covid contacts December 11, 2020 People who have been in contact with someone who tested positive with coronavirus will be given daily Covid tests instead of having to isolate for a fortnight under new government plans. The Test and Trace pilot scheme is being trialled in several schools, businesses and universities across the country. Close contacts of people with Covid-19 [...]
Spending watchdog urges government to ‘stop throwing money’ at NHS Test and Trace December 11, 2020 The UK’s spending watchdog has urged ministers to “stop throwing money” at NHS Test and Trace, after the beleaguered system last month received an extra £7bn in funding despite repeatedly failing to achieve targets. In a scathing report on the programme’s performance so far, the National Audit Office (NAO) slammed Test and Trace for failing [...]
Canary Islands removed from travel corridors list after surge in cases December 10, 2020 Travellers returning from the Canary Islands from Saturday will now have to quarantine after a surge in cases on the archipelago meant its travel corridor has been taken away. Passengers will have to isolate for 14 days if they arrive before Tuesday, but if they arrive after they can opt to buy a private test [...]
Reed chair’s fear of ‘tsunami of job losses’ turns to a bullish call rejecting a UK double-dip recession December 9, 2020 The founder and chairman of recruitment company and jobs giant Reed, James Reed has done a screeching U-turn on his outlook for the UK economy and jobs market.