City reacts to Bank of England’s £100bn stimulus June 18, 2020 The Bank of England (BoE) this morning held interest rates at a record low and said it will expand its bond-buying programme by £100bn to help to steer the British economy through the coronavirus crisis. Economists had almost unanimously predicted that the Bank would keep the main interest rate steady and focus on expanding quantitative [...]
Now hiring: DPD bets big on online delivery market with 6,000 new workers and £200m spending spree June 18, 2020 Delivery giant DPD is hiring 6,000 new workers in order to keep up with demand from “the biggest boom in online retailing in the UK’s history” as a result of the coronavirus lockdown. The firm said it would also put £200m extra cash into its network, as part of an “unprecedented investment in our infrastructure [...]
Bank of England holds rates, boosts stimulus by £100bn June 18, 2020 The Bank of England has held interest rates at a record low and will expand its bond-buying programme by £100bn to help to steer the British economy through the “unprecedented” crisis caused by coronavirus. At its June meeting, the BoE’s Monetary Policy Committee (MPC) voted unanimously to keep the main interest rate at a record [...]
Coronavirus safety measures risk ‘immeasurable damage’ to economy, says travel boss June 18, 2020 The economy faces “immeasurable” damage if the government veers too far towards medical safety measures to to protect agains the coronavirus pandemic, according to the boss of travel industry association ABTA. Speaking on City A.M’s The City View podcast this morning, Mark Tanzer gave a grim assessment of the problems facing Britain’s travel industry. He [...]
Coronavirus outbreak in Beijing is under control, says Chinese health expert June 18, 2020 The outbreak of coronavirus in Beijing has been brought under control, the chief epidemiologist of China’s Center for Diseases Prevention and Control has said. Wu Zunyou said today that the latest outbreak in Beijing is now under control, adding that while new cases may emerge in the coming days, these would be cases discovered during [...]
Sadiq Khan urges PM to make face masks compulsory in shops as well as public transport June 18, 2020 Sadiq Khan has urged the government to force people to wear face masks in shops and other confined public spaces. The mayor of London wrote to Prime Minister Boris Johnson this morning, calling for an extension to the rule which requires people to wear face masks on public transport. He said: “With lockdown easing, it’s [...]
Asian markets fall as fears of second wave dent confidence June 18, 2020 Asian markets fell on Thursday as spiking coronavirus cases and prospects of new lockdowns shook earlier confidence about a global economic recovery. Optimism about a quick economic comeback has been tempered by more global cases of coronavirus, with a fresh outbreak in Beijing and rising infections in US states that are reopening after lockdowns helping [...]
Half of businesses set to lay off staff once furlough ends June 17, 2020 More than half of all UK businesses will be forced to lay off staff within three months once the government’s furlough scheme ends, a new poll has revealed. According to YouGov data, 31 per cent of business leaders said a fifth or more of their staff could go, while 21 per cent said almost a [...]
Q&A: How can data science help investors map the route out of lockdown? June 17, 2020 | City Talk We ask Mark Ainsworth, Head of the Data Insights Unit at Schroders, how data science can help investors navigate the next phase of the Covid-19 crisis. The Covid-19 crisis has brought data into our everyday lives like never before. Where once we might have checked our news apps for the football scores, we’re now looking [...]
Bank of England lookahead: Bailey set to ramp up QE but avoid negative rates June 17, 2020 The Bank of England is widely expected to boost its asset purchase programme by at least £100bn tomorrow, as the central bank ramps up quantitative easing to shore up the UK economy. Governor Andrew Bailey is set to bolster UK stimulus at the Bank’s Monetary Policy Committee (MPC) tomorrow, economists predicted. The expansion of quantitative [...]