Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
UK coronavirus ‘R’ rate rises to between 1.1 and 1.4 September 18, 2020 The UK’s Covid reproduction or “R” rate has risen to between 1.1 and 1.4, the government has said, in the latest evidence that coronavirus is spreading quickly again through the country. It was up from last week’s figures of between one and 1.2. The government said that the new R rate means “that on average [...]
Around 5m workers were furloughed in July amid uneven recovery September 18, 2020 As many as 5.3m people remained on the furlough scheme at the end of the July, although almost a million returned to their jobs on a part-time basis, the latest figures from HMRC showed. The furlough scheme became flexible in July, meaning businesses could bring employees back part-time. The government paid 80 per cent of [...]
Almost half of firms plan to cut or stop hiring amid pandemic September 18, 2020 Almost half of UK firms expect to reduce recruitment or stop hiring new employees altogether over the coming year as they adjust to life during the coronavirus pandemic, a survey has found. The latest CBI/Pertemps employment trends survey said a “two-speed” job market had emerged. It found 46 per cent of firms were looking to [...]
UK small business recovery stalls as firms adapt to Covid September 18, 2020 The recovery among UK small businesses slowed in August as demand for services dropped, according to a new survey, in a worrying sign that the economic rebound is running out of steam. Natwest, who produced the survey, said there was a “widening gap” between big businesses and smaller firms, the latter of which employ the [...]
London Stock Exchange in exclusive talks with Euronext over Borsa Italiana September 18, 2020 The London Stock Exchange has entered exclusive talks with Paris-based Euronext about selling Borsa Italiana, Italy’s only stock exchange, it announced today. It comes as the London Stock Exchange (LSE) tries to win European regulatory approval for its $27bn (£21bn) purchase of data provider Refinitiv. The LSE announced in July that it may sell MTS [...]
FTSE 100 and US stocks slide following central bank announcements September 17, 2020 The FTSE 100 continued trading in the red after the Bank of England announced it would keep monetary policy on hold, while Wall Street opened lower as tech stocks slumped. The blue-chip index dropped 0.7 per cent before inching up marginally to trade down 0.4 per cent after the bank said the economy’s recovery had [...]
US jobless claims slip but rebound loses steam September 17, 2020 The number of Americans making new jobless claims fell slightly last week, but stayed at a very high level in a sign that the jobs recovery is losing steam. New jobless claims came to 860,000 in the week to 12 September, the Labor Department said today. That was down from 893,000 the week earlier, although [...]
Bank of England keeps policy on hold and flags solid recovery September 17, 2020 The Bank of England has kept monetary policy on hold, saying the UK economy’s recovery had been “a little stronger” than expected but warning that coronavirus could knock it off course. The Bank kept its main interest rate at the record-low level of 0.1 per cent, and the bond-buying target stayed at £745bn. The vote [...]
Travelling to work hits highest level since Covid began September 17, 2020 The proportion of people travelling to work hit its highest level since the coronavirus lockdown began last week as Britons’ gradual return to offices and workplaces continued. The Office for National Statistics (ONS) said 62 per cent of people travelled to work in the week that ended on 13 September. It was the first time [...]
Trump urges Republicans to go ‘much higher’ on stimulus September 17, 2020 US President Donald Trump has encouraged Republicans on Capitol Hill to come up with a more generous stimulus offer, as the White House tries to break the deadlock over the next package. Trump tweeted yesterday evening: “Go for the much higher numbers, Republicans, it all comes back to the USA anyway (one way or another!)” [...]
