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Economy
UK government mulling scrapping quarantine rules for fully vaccinated from August
July 05, 2021 08:28 PM AEST| By Kamalika GhoshThe government is planning to scrap quarantine rules for travellers who are fully vaccinated and returning from amber listed countries. It was reported that the government was considering whether to do away with the legally mandated self-isolation .....
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UK on course to strengthen international trade as an independent nation
July 04, 2021 12:19 AM AEST| By Suhita PoddarSummary Of late, the government has been apparently working on a slew of measures that can bolster the trade prospects of the UK as an independent nation. The government, alongside the trade bodies and respective departments, have duly supporte.....
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US economy adds 850,000 jobs in June as wages rise
July 03, 2021 03:30 AM AEST| By Team Kalkine MediaSummary It was the biggest gain since August 2020, exceeding economists' estimates but in line with their expectation of a continued improvement in the labor market. The US economy had added 583,000 and 269,000 new jobs in May and April, respec.....
New Right-to-Repair Standard for the UK in Action
July 03, 2021 01:19 AM AEST| By Kamalika GhoshSummary UK’s new right-to-repair standard came into force from 1 July. As per the new rules, now manufacturers of white goods are required to make spare parts of electrical appliances available. These rules will increase the life span of.....
Global minimum corporate tax of 15% to give countries right to tax profits over $100 billion
July 02, 2021 08:27 PM AEST| By Kamalika GhoshSummary The US’ proposal for a minimum level of global corporate tax has found the backing of 130 nations. A proposal for charging a 15% minimum corporate tax has been backed by these nations. The US has been trying to tighten the noose .....
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Will NZ households pay extra for consumer items amid growing inflationary burden?
July 02, 2021 06:36 PM AEST| By SonalSummary ANZ-Roy Morgan Consumer Confidence Index remained steady at 114 in June. The index measures consumer confidence in NZ households every month and the subsequent impact on buying patterns. Inflationary pressures are building up. ANZ.....
What rules are changing in the UK from 1 July?
July 01, 2021 10:40 PM AEST| By Kamalika GhoshSummary The government has decided to put on hold the complete reopening of the economy till July due to the threat of the Delta variant. There are a host of new rules that becomes operational 1 July onwards......
New dwellings consent reaches a new annual record in May 2021
July 01, 2021 03:08 PM AEST| By SonalA record number of new homes were consented for the year ended May 2021. Stats NZ released latest building consent figures on Thursday, revealing that the actual number of new dwellings consented stood at 43,466 for the year ended May 2021, the high...
The housing crisis in New Zealand takes a new turn
July 01, 2021 12:25 PM AEST| By RomaSummary Further bad news for new homeowners, buyable homes on a decline. Five Major regions witness a record decline in number of properties. Consumer trend shifting from existing homes, towards construction of new ones. The housing issue.....
Canada’s GDP fell 0.3% in April. What’s in store for the economy?
July 01, 2021 02:07 AM AEST| By Raza NaqviAmid stricter COVID-19 measures in the wake of the third pandemic wave, Canada's real gross domestic product (GDP) contracted by 0.3 per cent in April 2021, Statistics Canada reported on Wednesday, June 30. The data agency noted that this was the fi...
DfT kickstarts William-Shapps Plan with £5 million investment
July 01, 2021 02:00 AM AEST| By AbhijeetSummary DfT has kickstarted the William-Shapps Plan with £5m government funding The rail data will be opened up for developers via a new single-access platform The digital platform will enable the support of real-time alerts to passenger.....
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UK’s New Subsidy Control Bill for Quicker and Flexible Support for Businesses
June 30, 2021 10:09 PM AEST| By Suhita PoddarSummary The UK has announced its new subsidy control bill, based on a set of UK-wide principles. The new system will be more flexible and based on common sense principles. The new system will be quicker compared to the prior 1970s EU’s s.....
Accelerating inflation a concern, even as shop prices record fall in June
June 30, 2021 07:46 PM AEST| By Kamalika GhoshSummary The decline in UK’s shop prices rose to 0.7% in June, while May saw a 0.6% decrease. BRC-NielsenIQ shop price index showed non-food deflation increased 1% in June compared to a 0.8% fall in May. The food category in June recorded.....
Opinion: How Does The Reserve Bank Plan To Balance High Inflation and Low Interest Rates?
June 30, 2021 04:51 PM AEST| By ManikaRising house prices due to a low-interest regime, good economic growth, employment, and GDP numbers better than other countries are all posing a challenge for the dovish Reserve Bank of New Zealand. Should the Reserve Bank continue its expansionary...
New Zealand stares at higher inflation, ANZ calls for increase in OCR this year
June 30, 2021 04:11 PM AEST| By ManikaNew Zealand businesses are seeing a rise in inflation beyond the Reserve Bank of New Zealand’s (RBNZ) target of 2%. ANZ Business Outlook Survey revealed that Companies that were surveyed continued to feel tremendous cost pressure. The Survey.....
Nearly 800,000 employees, working from home, claim tax relief
June 30, 2021 12:41 AM AEST| By AbhijeetSummary HMRC has extended the benefit of tax concessions to a majority of employees Nearly 800,000 employees have already claimed the benefits of tax relief since April The HMRC is also willing to accept the backdate claims for up to four year.....
Nissan Expected to Start Sunderland Gigafactory Creating Thousands of Jobs in UK
June 29, 2021 10:58 PM AEST| By Kamalika GhoshSummary Car manufacturing giant Nissan is expected to set up a gigafactory in Sunderland. the new plant is expected to offer direct job opportunities to 2,000 workers and many more in subsidiaries. The battery plant could create 2,000 jobs and.....
RBNZ’s Statement of Intent says vulnerabilities remain despite recovery
June 29, 2021 06:46 PM AEST| By SonalSummary RBNZ provided Statement of Intent 2021-2024 on June 29. Economic activity in NZ returned to pre-COVID-19 levels. However, there are still vulnerabilities with more monetary and fiscal support needed for the recovery process. RBNZ .....
Can rising inflation derail recovering global economy?
June 29, 2021 11:21 AM AEST| By RomaSummary Global economic recovery could be marred by logistical instabilities in East Asia. Big Money countries like the US and G7 members play a strong role in recovery. Is a global inflation crisis on the way? What should be done to avert it?.....
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Small Businesses Seek Additional Support Following Extended Restrictions till July
June 28, 2021 11:23 PM AEST| By Suhita PoddarSummary Small businesses in the UK are seeking additional support from the government to run their businesses. Some changes will occur in the furlough scheme from 1 July, and most of the UK small b.....
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