Economy

UK Quarterly Borrowings A Cause For Concern

Summary Government borrowings touched a record high level during Q2 2020 This was a result of the various schemes announced to combat the unpreced...

EU Reaches A Deal To Create A €750 Billion Recovery Fund

Summary Deal reached after five-day marathon meet between the EU leaders in Brussels, to agree on an economic recovery plan, that would see billion...

British Exchequer To Review All Its Spending Plans For The Next Five...

Summary The British government has incurred an unprecedented debt in the recent past to support the pandemic-struck sluggish UK economy Chancello...

Cultural Events in The UK Get Green Signal with Appropriate Social D...

Summary The government has given a go-ahead for the opening of indoor performing arts events in the United Kingdom from 1 August 2020 and conferenc...

A Notable Drop Seen In The Household Income During May 2020 For The...

Summary Households in the United Kingdom have witnessed the worst income shock since the 1970s oil crisis: Resolution Foundation report The scenar...

Bank Of England Sees The British Economy Making A Sharp Turnaround

Summary The chief economist of BOE Andy Haldane believes that the British economy is witnessing a V-shaped recovery since the beginning of May 2020...

Retail industry faces ‘COVID-19 hangover’ as consumers spend with ca...

Summary The pandemic has left major impact on Canada’s struggling retail industry Consumer behavior has changed forever, and rules of retail...

Japanese Exports face the Steepest Plunge as Economy sinks into Rece...

Summary Japan’s economy slipped into recession in May, with a contraction in GDP by 3.4% annually in Q1 2020, followed by a 7.3% plunge in th...

British Lenders May Discontinue Many Categories of Loan Offerings on...

Summary Many of the British lenders expect households and businesses to default on their debts The prices of mortgage contracts are expected to ri...

Education sector in the UK in a dire state, 13 Universities on the b...

Summary British Universities earn nearly £40 billion annually, most of which is under risk now as a result of the coronavirus pandemic Witho...

47,000 more youngsters went jobless during March to June 2020, compa...

Summary The furloughing scheme has masked the true state of joblessness in the country; however, the corona-impact is more visible in new people jo...

Double-dip Recession: A possibility in the US? 

Summary The resurgence of COVID-19 cases in some nations worldwide along with the US has sparked fears and risk of another global economic downturn...

 Manufacturers in The UK Wary of The Outcome If a Brexit Deal Does N...

Summary The coronavirus pandemic has delayed the Brexit-deal negotiations between the UK and EU, with now only six months to go before the EU commo...

Banking Sector Lobby Group Asks the Government to Treat Covid-19 Loa...

Summary Banking sector lobby group TheCityUK feels that Covid-19 loans should be treated like student loans to make it easy for businesses to repay...

UK Witnesses Spike in IT Job Advertisements with The Ease in Lockdow...

Summary The coronavirus appeared not that big an issue for the technology sector, which is a very diversified sector. IT and technology jobs have...

UK’s CPI Inflation Increases To 0.6% In June Aided by Games and Clot...

Summary Gaming consoles and clothing pushed UK inflation upwards during the month of June Prices of men’s clothing and women’s clothin...

Government was not transparency regarding the £30 billion jobs plan:...

  The Institute for Fiscal Studies (IFS), Britain’s leading thinktank said that the corona jobs plan will ultimately cost the Exchequer on...

The Complete List Of Schemes Announced By Rishi Sunak, Chancellor, U...

The UK Treasury has unveiled various unprecedented stimulus plans beginning 11 March 2020 till 16 July 2020, to combat the devastating impact on the B...

Britain’s Hospitality Industry May Not Benefit From The VAT Rate Cut

Summary 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...

BFC’s Call to Safeguard Jobs in the Fashion Industry

Summary The British Fashion Council (BFC) has called upon the Government to support the fashion retail businesses Oxford Economics has predicted t...