China hopes to secure trade deal with US ‘as soon as possible’ December 9, 2019 China said it hopes to secure a trade deal with the US “as soon as possible”, raising hopes of a breakthrough ahead of a fresh round of intense negotiations this week. Assistant Commerce Minister Ren Hongbin told reporters this morning that Beijing hopes to reach a trade agreement with the US that will satisfy both [...]
Bank of England set to hold interest rate ahead of next governor announcement December 15, 2019 The Bank of England is this week expected to hold interest rates at 0.75 per cent, despite pressure from some quarters for a further quarter-point cut. On Thursday the Bank’s nine-member monetary policy committee, which is responsible for setting the interest rate, will announce its decision. Read more: Mark Carney appointed UN climate envoy ahead [...]
Rolls-Royce joins with Scandi carrier Widerøe to launch all-electric plane by 2026 March 11, 2021 Rolls-Royce has today announced a new partnership with Scandinavian regional carrier Widerøe to develop an all-electric commuter aircraft ready for service by 2026. The 11-seat plane is being designed for initial use in Norway, where extremely short flights are very common due to the country’s mountainous territory. The project is part of Norway’s plan to [...]
Coronavirus: US stocks lift on stimulus measures despite Europe turmoil March 20, 2020 US stocks lifted slightly on the open this afternoon as traders reacted to massive amounts of government stimulus aimed at containing the coronavirus crisis. The S&P 500 dipped 0.5 per cent before rising just 0.1 per cent and the tech-heavy Nasdaq rose 1.3 per cent. The Dow Jones posted a 0.5 per cent rise shortly [...]
UK economy: Five charts that show we face a long road to recovery June 13, 2020 The coronavirus pandemic has plunged the UK economy into an unprecedented crisis, with GDP shrinking by a record 20.4 per cent April as lockdown measures hammered businesses. The Bank of England has warned that Britain could be heading for its deepest recession in three centuries this year. It is widely believed that April will mark [...]
Hong Kong tycoon snaps up £65m penthouse after Boris Johnson victory December 16, 2019 A Hong Kong tycoon has splashed out £65m on a penthouse apartment in Belgravia just hours after Boris Johnson’s landslide election victory was confirmed. It is understood that the deal, which is the most expensive penthouse sale this year, was completed as investors celebrated the huge Tory win. Read more: Chinese property firms in plans [...]
Japan may postpone Tokyo Olympics as coronavirus cases mount March 3, 2020 Japan may be allowed to postpone the Tokyo Olympics until the end of 2020, the country’s minister responsible for the games said today. Olympics minister Seiko Hashimoto has said Japan’s agreement with the International Olympic Committee to host the 2020 games could be deferred until the winter. “The contract calls for the games to be [...]
Greggs off to better start after swinging to first ever loss in 2020 March 16, 2021 Greggs said that it had made a stronger-than-expected start to 2021 after seeing sales slip back last year as a result of the coronavirus pandemic. The impact of the pandemic meant the baked goods peddler swung to a £13m loss, a huge flip from the £108m profit it made the prior year. That beat the [...]
FOMC decision: Four things to expect from the Federal Reserve’s June meeting June 10, 2020 Policymakers at the US Federal Reserve are set to publish their first set of economic projections of 2020 later today when the Open Market Committee (FOMC) makes its June decision. The Federal Reserve is widely expected to leave interest rates near zero at its FOMC June decision. But all eyes are on the meeting for [...]
Provident Financial to shut doorstep lending arm after 141 years as it crashes to loss May 10, 2021 Troubled sub-prime lender Provident Financial today confirmed plans to shutter its doorstep lending arm as it reported a hefty loss for the full year. The Bradford-based company said it was withdrawing from the home credit market after 141 years, adding that it has begun a consultation process for 2,100 employees. “In light of the changing [...]