Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
ECB’s Christine Lagarde: Coronavirus cases putting recovery at risk October 6, 2020 European Central Bank (ECB) president Christine Lagarde has warned that a second coronavirus wave could lead to a “shaky” economic recovery in the Eurozone, and said Covid has scarred some parts of the economy “probably for the long haul”. However, Lagarde told the Wall Street Journal in an online conversation that monetary and fiscal policy [...]
US stocks and FTSE 100 fall after Donald Trump gets coronavirus October 2, 2020 US stocks tumbled and the FTSE 100 was lower after US President Donald Trump tested positive for coronavirus just a month before the presidential election. Wall Street’s S&P 500 index was 0.6 per cent lower in early trading, having recovered some ground after a sharp fall at the open. The Dow Jones was down 0.5 [...]
US jobs recovery slows ahead of November election October 2, 2020 The recovery in the US jobs market slowed in September as fiscal stimulus and pent-up demand ran dry, according to the last set of official figures before the November presidential election. More than 660,000 Americans found work last month, the Bureau of Labor Statistics (BLS) said. However, the jobs growth undershot the 850,000 increase predicted [...]
PM to hold last-minute Brexit talks with EU’s von der Leyen October 2, 2020 Prime Minister Boris Johnson will hold discussions with European Commission president Ursula von der Leyen by phone tomorrow as the UK and EU try to strike a last-minute Brexit trade agreement. The latest and last round of scheduled talks between the two sides ended today. A deal remains a way off, with tensions still running [...]
EU says the City can expect ‘less fluid’ trading from January October 2, 2020 The City of London can expect financial services trade with the EU to be “less fluid” from January onwards, the bloc’s new finance commissioner has said. Speaking to the European Parliament, Mairead McGuinness also reiterated the EU’s position that its banks and financial services companies should move away from reliance on London. The UK officially [...]
FTSE 100 slips but US stocks rise amid Covid worries September 25, 2020 The FTSE 100 slipped but US stocks rose as European stocks headed for their worst week since June, with investors rattled by rising coronavirus cases. London’s blue chip index was down 0.1 per cent to 5,819 points as it approached the close, despite having opened higher. The FTSE 250 was up 0.8 per cent, however. [...]
Poll says Rishi Sunak the most popular chancellor in 40 years September 25, 2020 Big spender Rishi Sunak is the most popular chancellor since Labour’s Denis Healey in the 1970s, according to a new poll, which showed even Labour voters are pleased with his performance. Pollster Ipsos Mori said 64 per cent of the British public was satisfied with the way Sunak was running the economy as chancellor of [...]
Government borrowing jumps in August as Covid costs grow September 25, 2020 UK government borrowing shot up in August as tax receipts slipped and spending on coronavirus stimulus grew, the latest figures have shown. Public sector net borrowing jumped to £35.9bn, the third-highest monthly total and the highest August total on record, the Office for National Statistics (ONS) said. It compared with borrowing of £5.4bn in August [...]
Rishi Sunak’s new job support plan: What do the changes mean for workers? September 24, 2020 Chancellor Rishi Sunak has confirmed the £40bn furlough scheme will end on 31 October, to be replaced by a programme that will subsidise employees for part-time work. So what do the new measures mean for employees and employers? What will replace the furlough scheme? Sunak gave in to pressure to keep subsiding wages, creating a [...]
FTSE 100 and Wall Street drop as coronavirus fears return September 24, 2020 The FTSE 100 fell today after two consecutive days of climbs as investors’ nerves over the impact of coronavirus on the economy returned. London’s blue-chip stock index fell 1.1 per cent to 5,835 points by the mid-afternoon, while the mid cap FTSE 250 index fell by the same margin. Meanwhile, after a sharp sell-off on [...]
