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?
Households face hike in energy bills due to Covid ‘bad debt’ November 20, 2020 Millions of households could see their energy bills hiked by £21 in order to compensate suppliers for unpaid customer debts incurred due to the coronavirus pandemic. Energy watchdog Ofgem is mulling whether to increase the energy price cap for 11m homes to allow suppliers to recoup these “bad debts”. The regulator said that it expected [...]
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 [...]
Gold prices set for second week of falls as vaccine hopes spur traders November 20, 2020 Gold prices were on track to fall for a second consecutive week as investors chanced their arms on equities again on news of not one but two effective coronavirus vaccines. The safe haven asset has seen prices jump almost 25 per cent this year, with traders piling in as stock markets melted down around the [...]
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 [...]
Watchdog calls for end to relaxation of pre-emption rules November 20, 2020 The audit regulator has called for an end to the relaxed pre-emption rights past the November deadline, in what has been hailed as a positive step for retail investors. The so-called pre-emption rights were first introduced in March by the Financial Reporting Council (FRC) in a bid to help struggling companies raise cash quickly. The [...]
UK youth unemployment reaches its highest level in four years November 20, 2020 UK youth unemployment reaches its highest level in four years
UK borrowing drops to £22bn in October but deficit hits new record November 20, 2020 The UK government’s borrowing dropped sharply in October as companies and individuals required less economic support, with spending on the furlough scheme almost quartering. Public sector net borrowing came in at £22.3bn last month, down sharply from a downwardly revised figure £28.6bn a month earlier, the Office for National Statistics (ONS) said. It was also [...]
UK retail sales outperform expectations ahead of second lockdown November 20, 2020 UK retail sales rose for the sixth consecutive month, smashing analysts’ expectations as Britons stocked up on goods ahead of new restrictions. In October UK retail sales volumes grew 1.2 per cent, well ahead of the 0.0 per cent expected, said the Office for National Statistics. Volumes are now 6.7 per cent higher than in [...]