Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Go-Ahead Group swerves to a loss as Covid derails operations September 24, 2020 Transport group Go-Ahead fell to a loss in the year ending 27 June as its regional bus services were hit hard by coronavirus and it suffered steep exceptional costs in Germany. Go-Ahead’s shares rose 1.2 per cent, as it said that regional services were back to 50 to 60 per cent capacity and investors gambled [...]
BoE: Considering the climate would have held back stimulus September 24, 2020 The Bank of England has said it did not attach any climate-related conditions to its major loan scheme as this would have “frustrated” the effort to support companies quickly. However, Bank official Sarah Breeden said that the BoE is “considering” attaching green strings to its future corporate bond purchases. Threadneedle Street has been criticised for [...]
Hancock urges people to download new contact-tracing app September 24, 2020 The government has urged people living in England and Wales to download the NHS’s coronavirus contact-tracing app to help tackle the worrying rise in coronavirus cases, after it was officially released. It will be available to everyone aged 16 and over and will work in multiple languages. Mobile network operators Vodafone, Three, EE, O2, Sky [...]
US business growth slips slightly but remains ‘solid’ September 23, 2020 Growth in the US private sector was “solid” but cooled off slightly in September as services firms lost some momentum, a preliminary survey has shown. The IHS Markit US composite purchasing managers’ index (PMI) – which measures the health of companies – slipped to 54.4 in September from 54.6 in August. A score of above [...]
FTSE 100 surges after restrictions ‘not as tough’ as feared but US stocks mixed September 23, 2020 The FTSE 100 jumped as it continued to recover from Monday’s rout, while US stocks were mixed as investors weighed up the chances of fresh stimulus. London’s blue-chip index was up 1.7 per cent at 5,926 points, edging it closer to the 6,000 threshold. The FTSE 250 was up 1.05 per cent. Read more: Coronavirus: [...]
FCA drops BoE audio probe but Bank acknowledges lapses September 23, 2020 The Bank of England “could have identified sooner” the “misuse” of an audio feed of its press conferences after being warned of a potential problem, the BoE’s internal auditor has found. However, the UK’s financial watchdog said it had closed its investigation into Encoded Media, the company at the centre of the storm, saying it [...]
UK economy’s rebound cools amid coronavirus worries September 23, 2020 The UK economy’s recovery from lockdown “lost some of its bounce” in September as government support schemes were reduced and consumers worried about coronavirus, according to survey data. The first estimate of the IHS Markit/Cips composite purchasing managers’ index (PMI) slipped to 55.7 in September after jumping to 59.1 in August. The gauge measures how [...]
Eurozone rebound stalls as Covid cases hit services sector September 23, 2020 The Eurozone’s economic recovery stalled in September as rising coronavirus cases knocked the massive services sector backwards, according to preliminary survey data. The IHS Markit composite purchasing managers’ index (PMI) – a gauge of the health of the private sector – fell to 50.1 in September from 51.9 in August. That was the lowest figure [...]
Rishi Sunak considers German-style wage subsidy scheme September 23, 2020 Chancellor Rishi Sunak is weighing up a new scheme to subsidise workers’ wages to replace furlough, perhaps along the lines of the German short-time work scheme, as he tries to limit the economic impact of the latest coronavirus restrictions. It comes after Prime Minister Boris Johnson implemented new rules that will see pubs shut at [...]
FTSE 100 climbs despite new coronavirus rules but US stocks mixed September 22, 2020 After plunging yesterday, the FTSE 100 rose despite the UK government imposing new coronavirus restrictions, while US stocks were mixed. The UK blue-chip index was up 0.9 per cent to 5,858 points in afternoon trading. That was down significantly from its opening figure of above 6,000 yesterday, however. The FTSE 250 had risen 0.2 per [...]
