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Economy
British retail sales drop at the sharpest pace since June
October 29, 2020 10:23 PM AEDT| By Team Kalkine MediaThe business environment is going through a rough phase with October witnessing a mixed bag of commerce activities. Prices in British shops continued to slide this month due to fierce competition among retailers than in September, which means that .....
No-deal Brexit: Imported cars could become dearer by £1,900
October 25, 2020 04:20 PM AEDT| By Team Kalkine MediaThe British car industry faces a greater challenge when the EU common area regulation expires on 31 December 2020. The society of motor manufacturers and traders (SMMT) in the United Kingdom has stated that there will be an average increase of &pou.....
PMI indicates a flattening recovery for the UK economy
October 24, 2020 06:56 PM AEDT| By Team Kalkine MediaThe UK IHS Markit flash PMI survey for October 2020 revealed that the economic recovery seen in the earlier months has faded away as the coronavirus cases spike up in the UK. The services sector which has a significant share in the nation&.....
UK consumer confidence index falls as fear of recession mounts
October 23, 2020 10:45 PM AEDT| By Kunal SawhneyThe United Kingdom is currently experiencing the second wave of the Covid-19 with tougher social distancing restrictions being introduced. The prime minister has strengthened the social distancing measures currently in force in the UK to curb the s.....
FTSE 100 inches up as Sunak rolls out extra job support
October 23, 2020 09:47 PM AEDT| By Team Kalkine MediaRishi Sunak, Chancellor, UK Treasury had granted additional support under the earlier announced Jobs Support Scheme (JSS) which begins on 1 November 2020 and would last for a period of six months. The economy needs support to sustain itself.....
UK Secures Its First Post-Brexit Trade Deal with Japan
October 23, 2020 08:29 PM AEDT| By Team Kalkine MediaIn a major success for the Boris Johnson government, United Kingdom has secured its first major trade deal with Japan since it broke away from the European Union. The deal which was signed in Tokyo on 23 October 2020, has been given the name The UK.....
UK national borrowings grow as coronavirus support continues
October 21, 2020 11:02 PM AEDT| By Team Kalkine MediaPublic sector borrowings of the UK government were worth £36 billion during September 2020, according to the latest data from the Office for National Statistics. The corresponding value in September 2019 was £28 billion. It is the thir.....
Gordon Brown Urges Govt To Pay Subsidy to Employers for Hiring Workers Under 25
October 21, 2020 09:28 PM AEDT| By Team Kalkine MediaFormer Prime Minister Gordon Brown, who led the country during the financial crisis of late 2000, has urged the government to provide employers a subsidy of £100 a week to recruit workers below the age of 25. Amid the pandemic, unemplo.....
90 per cent of the current workforce would need reskilling by 2030, says CBI
October 20, 2020 09:41 PM AEDT| By Hina ChowdharyThe Confederation of British Industry (CBI) has warned that Britain could face serious threat if it does not upskill its workforce as businesses need skilled talent to stay competitive. However, the working world is changing faster than pe.....
Coronavirus update: Manchester economy’s growth to suffer with tier-3 restrictions
October 20, 2020 09:38 PM AEDT| By Kunal SawhneySir Richard Leese, leader, Manchester city council has requested the UK government to come out with an effective shielding program for the region. There should be no blanket business closures as it would heavily cost the regional economy, h.....
Brexit: Industry Associations React on Boris Johnson’s New Walk Away Warning
October 20, 2020 09:00 PM AEDT| By Team Kalkine MediaThe deadlock over the negotiations about the Brexit trade deal between the UK and European Union (EU) appears to have no favourable end. Recently, PM Boris Johnson said that his government is fed up with the developments and responses and might jus.....
Bank of England Ensuring Preparedness of Banks for A Negative Interest Rate Regime
October 14, 2020 01:41 PM AEDT| By Team Kalkine MediaUnited Kingdom’s apex bank, the Bank of England (BoE) has been leaving no stone unturned to resurrect nation’s economy. The bank had already pushed interest rates near zero during the peak of unprecedented crisis. The Bank of England ha.....
UK’s Borrowing May Climb To £350 Billion, A Never-Before-Seen Level in Centuries
October 13, 2020 04:40 PM AEDT| By Team Kalkine MediaThe concerns around the rising debt pile have increased to an alarming level with the World Bank raising eyebrows on the quantum of public debt owed by the poorest countries. Amid the tightened business activity due to the coronavirus pande.....
UK unemployment rate at a three-year high
October 13, 2020 04:20 PM AEDT| By Hina ChowdharyThe unemployment rate in Britain has shot up sharply by 0.4 per cent, from 4.1 per cent (May to July 2020) to 4.5 per cent (June to August 2020). This is the highest rate for joblessness observed in the nation since the year 2017. Close to .....
The United Kingdom All Braced Up to Deal with The Second Wave of COVID- 19
October 13, 2020 04:10 PM AEDT| By Kunal SawhneyThe fears of the COVID- 19 pandemics making a resurgence in the United Kingdom may be coming true. The infection rate across the country has been rising, and Scotland and several other localities in the country are already in lockdown. It had been.....
Rishi Sunak offers help to check job losses as the economic recovery tapers off in August
October 11, 2020 03:28 AM AEDT| By Team Kalkine MediaBritain’s economic output grew at a feeble pace of 2.2 per cent in August 2020 as compared to an almost triple growth rate of 6.4 per cent observed during the previous month of July 2020, according to the latest estimates from the Office for .....
Second Covid-19 wave to put UK economy’s growth on hold
October 08, 2020 04:10 PM AEDT| By Team Kalkine MediaThe UK economy had started to recuperate from a recession after contracting during H1 2020, as various industries could reopen after the coronavirus-led lockdown (GDP growth for July 2020: 6.6 per cent). However, the UK treasury officials have warn.....
New 95% LTV state-backed mortgages: Why lenders are concerned?
October 07, 2020 04:20 PM AEDT| By Team Kalkine MediaBuying a property has been one of the major things in the to-do lists of individuals, but when it comes to financing the property, a large section of people approach housing financiers, lenders and other financial institutions dealing with mortgage.....
UK Government’s Plan to Power Every Home with Wind Energy: Is it a Viable Move?
October 07, 2020 04:20 AM AEDT| By Team Kalkine MediaIn a speech at the Conservative Party’s virtual conference on 6 October 2020, Prime Minister Boris Johnson is all set to take a pledge to power every home in the UK with the offshore wind within a decade. The government will also be unve.....
State Pension Age Raised To 66 Years: What All You Need to Know
October 06, 2020 03:20 PM AEDT| By Team Kalkine MediaThe state pension age (SPA) has been increased to 66 years following which the millions of individuals looking forward to enjoying the benefits of pension will be mandatorily required to wait till they attain an age of 66 years. The new state pensi.....
AI on the Rise: A Look at Top AI Companies and Their Stocks