Biden set to pick former US Fed chair Janet Yellen as his Treasury Secretary November 23, 2020 Joe Biden set to pick former US Fed chair Janet Yellen as next Treasury Secretary, succeeding Steve Mnuchin's role
Bank of England investigating leak of QE extension decision November 23, 2020 The Bank of England believes there was a leak of its decision to increase its bond-buying program by £150bn ($200bn) earlier this month. Bank of England governor Andrew Bailey told Westminster’s Treasury Select Committee that the central bank was now investigating how the decision was leaked to The Sun. “What we have to assume is [...]
UK business activity shrinks as fresh lockdown hits services sector November 23, 2020 UK business activity contracted this month as the rollout of fresh lockdown measures took its toll on the services sector. The IHS Markit/CIPS UK Composite Purchasing Managers’ Index (PMI) dropped to 47.4 in November, according to initial readings, down from 52.1 in October. The figures represent a five-month low and the first time since June [...]
Eurozone business activity shrink sharply in November as lockdowns bite November 23, 2020 Eurozone business activity shrink sharply in November as lockdowns bite
Rishi Sunak set to raise taxes in spring to pay off Covid debt bill November 22, 2020 Rishi Sunak has signalled that he will raise taxes in the spring of next year to pay off the country’s Covid spending bill. The chancellor told the Sunday Times today that by spring the conutry must start “returning to sustainable public finances”, after spending more than £200bn on the Covid crisis. This year’s deficit is [...]
US stocks slip as Treasury clashes with Fed to cut loan programmes November 20, 2020 US stocks slipped in early trading while global markets were subdued as rising coronavirus cases and a rare disagreement between the Federal Reserve and Treasury worried investors. Treasury secretary Steve Mnuchin yesterday requested that the Fed wind down a series of coronavirus lending facilities put in place to support companies at the start of the [...]
How does the UK’s capital gains tax compare to other nations? November 20, 2020 How does the UK's capital gains tax compare to other nations?
Hungary says EU recovery fund spat will be resolved November 20, 2020 Hungary’s Prime Minister has said a dispute over the EU’s €750bn (£670bn) coronavirus recovery fund and budget can be solved, after his government and Poland’s blocked the package at a key meeting. Both Hungary and Poland voted against measures that would allow the €1.8 trillion 2021-2027 budget and recovery fund to become operational, even though [...]
Sterling edges higher on renewed Brexit deal hopes November 20, 2020 Sterling edged higher against the euro and the dollar after an European Union official said the bloc and Britain are very close to agreement on most issues, even if they are still at odds over three main points. After being flat in earlier trade, the pound gained 0.2% versus to stand at 89.31 pence per [...]
UK youth unemployment reaches its highest level in four years November 20, 2020 UK youth unemployment reaches its highest level in four years