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Economy
UK Manufacturers to Bring Work Home After Coronavirus Exposes Flaws in Global Trade
August 02, 2020 10:10 AM AEST| By Kunal SawhneySummary The pandemic has exposed the vulnerabilities of the global trade, which has undergone an enormous stress test in the recent months Covid-19 took the world by surprise and has stamped the concept of globalisation as a failure Twenty per.....
A Third of UK’s Furloughed Employees Back to Work in The First Two Weeks of July
August 02, 2020 10:00 AM AEST| By Team Kalkine MediaSummary The government’s furloughing scheme since the time it was announced has helped nearly 9 million employees This scheme is scheduled to come to an end at the end of October. Given the state of recovery of several industries, it is h.....
How the struggling US economy is affecting geographies worldwide
August 02, 2020 12:00 AM AEST| By Team Kalkine MediaSummary The US reported 32.9% dip in its Gross Domestic Product in the second quarter of 2020, signalling a historic plunge in the economic activity. US economic worries in the face of COVID-19 crisis seem to be further accentuated by tra.....
Back to work during pandemic: UK charities ask government to protect jobs of critically vulnerable workers
August 01, 2020 10:00 AM AEST| By Team Kalkine MediaSummary Charities urge the government to protect jobs of critically vulnerable workforce. Given the fear of unsafe working environment and chances of catching infection, these people will have to choose between two tough choices of either letti.....
Covid 19 impact: The Universal Credit Scheme needs to be more effective, says the Lords’ Economic Affairs Committee report
August 01, 2020 08:42 AM AEST| By Hina ChowdharySummary Lords’ Committee criticizes universal credit policy for not being able to meet its goals, especially during the coronavirus led pandemic period Government says that more than 3.2 million new claimants have been paid since the mid .....
Pizza Hut hires Alvarez & Marsal for guidance on company voluntary arrangement: Possible restructuring on cards
August 01, 2020 05:04 AM AEST| By Team Kalkine MediaSummary Pizza Hut is in touch with Alvarez & Marsal, a professional services firm to seek help on the benefits of a company voluntary arrangement (CVA). The coronavirus-led pandemic has enforced Pizza Hut restaurant chain to opt for financi.....
US Economy Charter and Dow Jones: Economy shrivels while stocks are under spotlight
August 01, 2020 01:37 AM AEST| By Team Kalkine MediaSummary On 30 July, both Dow Jones and S&P 500 indices fell 0.85% and 0.38%, respectively, prompted by worst fall of 32.9% in the US GDP numbers in Q2 period, highlighted by Bureau of Economic Analysis. Sharp plunge in consumer spending was.....
Industry Observers Cry Foul Over UK's Grant Scheme for Customs Intermediaries
July 31, 2020 06:05 AM AEST| By Hina ChowdharySummary The government has allocated just £50 million for the recruitment & training of personnel and procurement of associated equipment, which the industry feels is too little to handle the vast custom declarations expected to be fil.....
UK Universities See Rise in Pension Deficit Due to Coronavirus-led Crisis
July 31, 2020 05:55 AM AEST| By Kunal SawhneySummary The Universities Superannuation Scheme’s funding deficit for the end of March 2020 has increased to £12.9 billion The major reasons behind the rise in deficit numbers are increased fall in interest rates due to the Coronavir.....
BRC Issues Warning Over Potential Online Sales Tax
July 31, 2020 05:46 AM AEST| By Team Kalkine MediaSummary Britons still are fearful when it comes to shopping from high street retail and public squares Government has been planning to impose different tax regime for the online retailers Tesco Plc has been doing well as compared to its German.....
Britain Seeks To Expand The Scope Of CBIL Scheme As EU Relaxes Its State Aid Rules
July 30, 2020 11:10 PM AEST| By Team Kalkine MediaSummary There were several small businesses who could not avail of the CBILS facility, due to the Brexit transition period regulation in force in the UK till 31 December 2020. Now that the EU has relaxed its laws, the government plans to expand .....
UK Car Output Plunges by 48.2% Year on Year in June 2020
July 30, 2020 10:42 PM AEST| By Kunal SawhneySummary Britain’s new car manufacturing declined by 48.2 per cent year on year in June The export production plummeted by 45 per cent year on year UK’s automotive sector has pinned high hopes on free trade agreements No indust.....
The Government May Extend “Help to Buy” Scheme to Boost Demand in The Housing Sector
July 30, 2020 05:41 AM AEST| By Team Kalkine MediaSummary The “help to buy” scheme was introduced by the government to provide a boost to the housing sector and is scheduled to end by the end of this year. The scheme was first rolled out in 2013 and is meant to help home buyers buy.....
UK Retailers Scale Back Discounts in July As Demand Picks Up
July 29, 2020 10:50 PM AEST| By Hina ChowdharyThe month of July has been particularly eventful for the British retail sector. While the lockdown months saw a massive demand increase in the online food and beverage segment, the opening of the lockdown has seen the demand for consumer electronic.....
Impact of Covid-19 on means of Commuting in the UK
July 28, 2020 11:10 PM AEST| By Kunal SawhneySummary Transport, both public and private came to a standstill due to Covid-19 pandemic Alexander Dennis Limited is going for 650 job cuts in the UK due to decrease in UK demand for new buses There has been repeated call from ADL upon the UK .....
Londoners Spent the Least During the Lockdown
July 28, 2020 11:02 PM AEST| By Team Kalkine MediaSummary Affluent sections of the British society have spent a lot less during the lockdown than the low- and medium-income groups London and South East England witnessed the least amount of household expenditures during the lockdown period than.....
The United Kingdom to Enact New Consumer Laws as Online Retailing Expands in The Country
July 27, 2020 11:11 PM AEST| By Kunal SawhneySummary Britain to launch a consultation process before new consumer laws are enacted to protect them against potential pitfalls as the number of pre-paid transaction in the retail industry rise exponentially Since the outbreak of the Coronavir.....
Boris Johnson Mulling Over Raising Taxes To Fund The Cost Of Social Care
July 27, 2020 10:01 PM AEST| By Team Kalkine MediaAs per expert estimates, the cost of social care in Britain is projected to rise by an addition sum of £7 billion every year. Johnson had promised to bring out a comprehensive set of social care reforms more than a year ago, in June 2019. He.....
US-China Row Jitters the Businesses Across the Globe
July 26, 2020 05:43 PM AEST| By Kunal SawhneyThe stock markets in Europe and the United Kingdom retreated on Friday, 24 July 2020. FTSE 250, the midcap index, was down by 1.28 per cent to 17,264.84. Cineworld Group Plc (LON: CINE) was amongst the top fallers; the stock plunged by 14.28 per ce.....
Need of An Infrastructure Bank for the UK And Role of Private Investors
July 26, 2020 07:35 AM AEST| By Team Kalkine MediaSummary The UK treasury plans to create a new public infrastructure bank to finance capital projects In May 2020, John Armitt, chair of NIC called for the creation of infrastructure bank as an alternative to EIB. Investors .....
AI on the Rise: A Look at Top AI Companies and Their Stocks