No-deal Brexit would hurt UK more than EU, says German finance minister September 12, 2020 A no-deal Brexit would do more damage to the UK economy than the European Union’s, according to the German finance minister. Speaking on Saturday following a meeting of 27 EU finance ministers in Berlin, Olaf Scholz said there would be “significant consequences” for Britain. “My assessment is that an unregulated situation would have very significant [...]
US budget deficit hits record $3tn due to coronavirus spending September 12, 2020 The US budget deficit has reached a record high after topping $3tn (£2.3tn) as the government’s mass spending on coronavirus relief continues. The treasury department said it spent more than $6tn in the first 11 months of its financial year, which included $2tn on Covid-19 programmes. It means the figure outpaces the $3tn it took [...]
Coronavirus: Fears of second wave mount as R rate rises above one September 11, 2020 Fears of a deadly second wave of coronavirus infections mounted today after official data showed the rate of transmission has risen above the critical level. The reproduction rate — known as R — is now between 1.0 and 1.2, according to the Government Office for Science. It marks an increase on last week, when the [...]
Coronavirus: Contact-tracing app to launch on 24 September September 11, 2020 The NHS coronavirus contact-tracing app will be rolled out in England and Wales on 24 September, the government confirmed today. The app will allow people to check in at hospitality venues by scanning QR codes using their smartphone. This will allow NHS test and trace to contact customers telling them to self-isolate if there is [...]
Countries must work together in recovering from coronavirus – Taiwan is ready to help September 11, 2020 In 2020, the world has been hit by an unprecedented public health crisis, with the effects of Covid-19 being felt across every aspect of people’s lives. This year also marks the 75th anniversary of the signing of the Charter of the United Nations. Now more than ever, the global community must make a concerted effort [...]
Massive corporate debt could hamper the pandemic recovery. Here’s how we could deal with it September 11, 2020 Will Tanner puts forward a suggestion for tackling UK companies’ rising corporate debt in the wake of the pandemic. The paradox of the pandemic is that everything we have done to support our economy through the crisis may inadvertently hamper our recovery out of it. Since March, the Treasury has gone to unprecedented lengths to [...]
Boris Johnson faces Tory revolt over new lockdown restrictions September 11, 2020 A number of Tory backbenchers have declared their opposition to the reintroduction of lockdown measures. Earlier this week, Prime Minister Boris Johnson announced that social gatherings would again have to be limited to six people from Monday following a spike in positive coronavirus cases. But the reintroduction of this restriction has reportedly divided current ministers [...]
Singapore Air to cut a fifth of workforce amid pandemic chaos September 11, 2020 Singapore Air today said it will cut roughly a fifth of its workforce due to the catastrophic impact of the coronavirus outbreak on aviation demand. The airline will slash 4,300 positions — the largest job losses in its history — with the cuts impacting its main brand as well as its Silkair and Scoot divisions. [...]
Heathrow passenger numbers plummet more than 80 per cent in August September 11, 2020 Heathrow Airport has reported an 81.5 per cent fall in passengers for August compared with last year and has called on the government again to change quarantine rules. The London-based airport was the busiest in Europe prior to the Covid-19 pandemic but has suffered significantly this year. It said its passengers from North America had [...]
DEBATE: Is the government right to wind up the furlough scheme at the end of October? September 11, 2020 The government has split public opinion by saying that it will not be extending the furlough scheme beyond the end of October. For the City A.M. debate, Annabel Denham of the Institute of Economic affairs and Cyrille Lenoel of the National Institute of Economic and Social Research consider whether it is right to do so. [...]