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Economy
Double-dip Recession: A possibility in the US?
July 20, 2020 08:28 PM AEST| By Team Kalkine MediaSummary The resurgence of COVID-19 cases in some nations worldwide along with the US has sparked fears and risk of another global economic downturn. The rapid acceleration of coronavirus cases in the US is threatening the economic recovery of t.....
Manufacturers in The UK Wary of The Outcome If a Brexit Deal Does Not Materialise
July 19, 2020 02:35 AM AEST| By Hina ChowdharySummary The coronavirus pandemic has delayed the Brexit-deal negotiations between the UK and EU, with now only six months to go before the EU common area regulations expire Should a deal fail to materialize in time major manufacturing regions l.....
Banking Sector Lobby Group Asks the Government to Treat Covid-19 Loans Like Student Loans
July 19, 2020 02:31 AM AEST| By Kunal SawhneySummary Banking sector lobby group TheCityUK feels that Covid-19 loans should be treated like student loans to make it easy for businesses to repay them £64 billion worth of debt would be at risk of going bad, and nearly 800,000 firms wou.....
UK Witnesses Spike in IT Job Advertisements with The Ease in Lockdown
July 19, 2020 02:27 AM AEST| By Team Kalkine MediaSummary The coronavirus appeared not that big an issue for the technology sector, which is a very diversified sector. IT and technology jobs have dominated the whole employment sphere in terms of the active number of job postings. The business.....
UK’s CPI Inflation Increases To 0.6% In June Aided by Games and Clothing
July 18, 2020 05:30 AM AEST| By Team Kalkine MediaSummary Gaming consoles and clothing pushed UK inflation upwards during the month of June Prices of men’s clothing and women’s clothing have increased across the range CPIH 12-month inflation rate, which includes owner occupiers' h.....
Government was not transparency regarding the £30 billion jobs plan: IFS
July 17, 2020 11:00 PM AEST| By Hina ChowdharyThe Institute for Fiscal Studies (IFS), Britain’s leading thinktank said that the corona jobs plan will ultimately cost the Exchequer only £20 billion, as it slashed £8 billion worth of previously planned expenses. The &p.....
The Complete List Of Schemes Announced By Rishi Sunak, Chancellor, UK Treasury And Their Impact
July 17, 2020 07:19 AM AEST| By Kunal SawhneyThe UK Treasury has unveiled various unprecedented stimulus plans beginning 11 March 2020 till 16 July 2020, to combat the devastating impact on the British economy, as a result of the coronavirus pandemic. It is noteworthy here that Rishi Sunak was...
Britain’s Hospitality Industry May Not Benefit From The VAT Rate Cut
July 16, 2020 11:00 PM AEST| By Hina ChowdharySummary The government had cut the VAT rates on the hospitality sector on 8 July 2020 from 20 per cent to 5 per cent which will be applicable from 15 July 2020 to 12 January 2021 While making the announcement on the rate cut Chancellor, Sunak h.....
BFC’s Call to Safeguard Jobs in the Fashion Industry
July 16, 2020 10:53 PM AEST| By Kunal SawhneySummary The British Fashion Council (BFC) has called upon the Government to support the fashion retail businesses Oxford Economics has predicted that 240,000 direct and 110,000 indirect jobs will be lost in the British fashion industry over the.....
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A glance at Chinese Economy: rebounding or stalling?
July 16, 2020 06:36 PM AEST| By Team Kalkine MediaSummary Though economically China showcases progress, geopolitically China is garnering backlashes across the world, especially from the US for its recently imposed National Security Law on Hong Kong. China’s relationship with the US reac.....
Canada’s Bright Spots Amid COVID-19: The Gradual Return of Investments in Sunshine Sectors
July 16, 2020 12:00 PM AEST| By Team Kalkine MediaCanada’s economy and employment has been decimated by containment measures enforced to curb the spread of the coronavirus. In days following the lockdown, the country’s economy entered a recession and markets crashed, wiping off investo.....
Britain needs to raise £60 billion in taxes to achieve financial stability post-pandemic: OBR
July 15, 2020 11:27 PM AEST| By Hina ChowdharySummay The Office of the Budget Responsibility report states that the public debt in the UK has reached an unsustainable level as government borrowings are set to peak £370 billion by the end of 2020 OBS also depicted a three-scenario ana.....
The UK economy rebounds to growth in May 2020, though at a slow pace
July 15, 2020 10:55 PM AEST| By Kunal SawhneySummary Britain’s economic output displayed a positive growth rate during May 2020, over the same period in 2019 This growth was led by manufacturing and construction components, both of which grew by more than 8 per cent for the month E.....
Central Bankers: Deadline for Phasing Out LIBOR Would Not be Extended
July 15, 2020 10:40 PM AEST| By Team Kalkine MediaSummary Interest rate benchmark, LIBOR is used to price financial contracts and is likely to be replaced by SONIA after 2021 All financial contracts are supposed to make transition to a new framework by the end of 2021 The central banks ar.....
Fraudsters Targeting Unsuspecting Investors with Lure of Attractive Returns
July 15, 2020 07:47 AM AEST| By Team Kalkine MediaSummary There has been a sharp rise in cases of investors being defrauded with a promise of attractive returns in UK The plunge of interest rates to rock bottom levels, due to the coronavirus crisis led many investors to fraudsters offering hig.....
UK Lender Offers Low-Deposit Mortgages Amidst Stamp Duty Holiday
July 14, 2020 11:50 PM AEST| By Hina ChowdharyLast week, Rishi Sunak announced stamp duty holiday on property purchases of up to £500,000. British financial institution, Nationwide Building Society would be offering lower deposit mortgages beginning 20 July 2020, after the Chance.....
Government Mulling Overhaul of Planning Laws in Upcoming Ten Freeports
July 14, 2020 08:00 AM AEST| By Team Kalkine MediaSummary The UK government is mulling overhaul of planning laws in upcoming 10 freeports, in a rush to make itself fully ready for December 2020, EU common tariff expiry deadline The government believes, such freeports could become international.....
Treasury’s Job Bonus Scheme: Primark, John Lewis, and William Hill do not wish to use it
July 14, 2020 06:35 AM AEST| By Team Kalkine MediaSummary Primark had furloughed around 30,000 employees in Britain in March 2020, but had removed them from the scheme during June 2020 John Lewis is planning to permanently close 8 out of its 50 stores William Hill is merging its retail and on.....
UK Insurers To See A Surge In Travel Insurance Policy Demand Post 31 Dec 2020
July 13, 2020 10:55 PM AEST| By Team Kalkine MediaSummary European Health Insurance Card (EHIC) which covers health insurance needs for travellers of all EU members citizens when they travel within the EU, will expire for British citizens on 31 Dec 2020 Cost of travel insurance is expected to .....
Stamp Duty Holiday to Give A New Lease of Life to The Crisis Stricken Housing Sector
July 13, 2020 12:22 AM AEST| By Team Kalkine MediaSummary Chancellor Sunak announced housing sector stamp duly holiday till 31 March 2021, when the industry was expecting it for only six-months Despite the increase in business activity levels in the housing construction sector since the beginn.....
AI on the Rise: A Look at Top AI Companies and Their Stocks