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Economy
Accelerating inflation a concern, even as shop prices record fall in June
June 30, 2021 10:46 AM BST| 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.....
Nearly 800,000 employees, working from home, claim tax relief
June 29, 2021 03:41 PM BST| 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 01:58 PM BST| 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.....
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Small Businesses Seek Additional Support Following Extended Restrictions till July
June 28, 2021 02:23 PM BST| 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.....
Microsoft roped in as Principal Partner for COP26 Glasgow Summit
June 25, 2021 04:29 PM BST| By AbhijeetSummary Microsoft has been roped in as a Principal Partner for the COP26 The summit has eight other domestic corporations and one Japanese MNC All these businesses are playing a vital role in climate change action Microsoft Corporation (N.....
Northern Ireland developments could finally mean a truce between the UK and EU
June 25, 2021 10:02 AM BST| By Kamalika GhoshSummary The Irish government has hinted at a possible truce between the European Union and the UK. The Northern Ireland Protocol necessitates checks on goods, like chilled meats, at ports while entering the UK. UK granted a grace period on bor.....
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Bank of England raises inflation forecast but leaves interest rates unchanged at 0.1%
June 24, 2021 04:16 PM BST| By Suhita PoddarSummary Bank of England has raised its inflation forecast but said it would be a temporary. BoE expects that consumer prices would see a jump of 3 per cent. The central bank left interest rates unchanged at a record low of 0.1 per cent. U.....
What moved business optimism in UK directors at a record high?
June 24, 2021 10:41 AM BST| By Kamalika GhoshSummary A new survey by the Institute of Directors found that UK’s business leaders’ confidence in the economy was at an all-time high. The rally in optimism was primarily driven by positive sentiments around the vaccination drive. .....
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Has inflationary pressure started impeding UK economic rebound?
June 23, 2021 03:48 PM BST| By Suhita PoddarSummary The IHS Markit economic survey reported a preliminary June reading of 61.7, falling slightly from May’s reading of 62.9. The marginal drop in data indicated that the UK’s frenzied economic growth rate might have peaked due t.....
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Why is Lloyds Banking closing 44 branches in England & Wales?
June 23, 2021 02:53 PM BST| By AbhijeetSummary Lloyds Banking Group has announced to close 44 branches Decision has been criticised by the British and Irish Trade Union Unite Shares of the bank traded in the positive territory post announcement Lloyds Banking Group Plc (.....
The UK to formally begin trans-pacific free trade talks
June 22, 2021 11:28 AM BST| By Suhita PoddarSummary The UK had applied to join the CPTPP in January after its exit from the European Union earlier this year. The CPTPP is the largest trading bloc and accounts for 13 per cent of the world’s GDP. The UK wants to gain tariff free tra.....
How Poor Ergonomics In The New Hybrid Work Model Can Impact Health
June 18, 2021 05:20 PM BST| By Suhita PoddarSummary Work induced injuries are a growing concern globally, a study of insurance firm Liberty Mutual reported work-related musculoskeletal disorders to cost employers up to US$13.4 billion annually. Employers can offer workplace equipment and.....
UK reports weekly jump of 79% in Delta variant infections
June 18, 2021 04:07 PM BST| By AbhijeetSummary PHE has reported a sizable jump in the Delta variant cases The Delta variant cases in the UK increased by as much as 79.46% in a week Notably, 84 double-jabbed people with the Delta variant have been hospitalised The rising .....
Economy Set to Get a Big Boost with New Infrastructure Bank
June 17, 2021 11:44 AM BST| By Kamalika GhoshSummary The UK treasury has launched a new infrastructure bank in the Leeds. The bank will fund various infrastructure projects across the UK through debt, equities and guarantees. The investment will be across multiple sectors such as transpo.....
UK inflation soars to 2.1%, highest since July 2019
June 16, 2021 12:53 PM BST| By Team Kalkine MediaSummary UK CPI-based inflation rate soared to 2.1% in May 2021 Sharp increase clearly portrayed the sudden spike in demand Clothing, meals and drinks, motor fuel contributed majorly to the upsurge The Consumer Prices Index (CPI) bas.....
UK-Australia First Free Trade Agreement Post Brexit to Boost Boris Johnson’s Political Standing
June 16, 2021 11:35 AM BST| By Kamalika GhoshSummary Australia and the UK signed the first free-trade agreement since Brexit. The deal would remove tariffs on swimwear, Hardy wines, Jacob’s Creek, and confectionery. It would also let people less than 35 years of age to work and liv.....
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Unemployment rate slips slightly as claimant count dips sharply
June 15, 2021 01:39 PM BST| By AbhijeetSummary The unemployment rate in the UK fell marginally in April 2021 to 4.7% Number of people seeking the unemployment benefits dropped by 92,600 Employees on payroll in May 2021 jumped by 141,000, ONS estimate suggests With the co.....
Why Inflation right now could add fuel to income inequality
June 13, 2021 03:23 PM BST| By Furquan MoharkanAs countries across the globe – from China to the US – have been reporting record inflation numbers, it could be having greater consequences than we can think about. There are four types of inflation that exist: creeping inflation (when...
What Is the UK Doing About the Climate Challenge?
June 11, 2021 03:43 PM BST| By Suhita PoddarSummary Climate change threat is increasing every day, with the world having touched 419 parts per million of CO2 in the atmosphere in May 2021, the highest ever on record. The UK’s ambitious net zero targets and its plan to decarbonise s.....
Ocean Conservation: What Are Nations Doing to Protect Their Underwater Habitats?
June 11, 2021 03:25 PM BST| By Team Kalkine MediaGreenpeace UK, on World Oceans Day, launched a six-month operation called ‘Operation Ocean Witness’ for patrolling the coasts of the UK. Its ship, called the Sea Beaver, would be on a patrol of the protected areas located off the southe.....
