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Economy
Business Conditions in The UK Strengthens in August But So Do Apprehensions for Early Recovery
August 19, 2020 02:30 PM BST| By Hina ChowdharySummary The British Coronavirus Business impact tracker of BCC for August reported that 38 per cent firms who responded to its weekly survey reported an improvement in their turnover compared to 34 per cent reported in the previous week. While .....
UK Might Not Extend The Furlough Scheme, Few Sectors Would Need Support Though
August 19, 2020 02:11 PM BST| By Kunal SawhneySummary Furlough scheme expires in October 2020, but Sunak is not in favour of extending it any further Germany is mulling over extending its furlough scheme to 24 months Up to two million at-risk jobs could be saved by extending the furlough .....
Road to Economic Salvation Not Easy For Chrystia Freeland, Canada's First Woman Finance Minister
August 19, 2020 01:01 PM BST| By Team Kalkine Mediainancial reporting under the belt. Canadian Prime Minister Justin Trudeau has named deputy PM Chrystia Freeland as the new Finance Minister, after Bill Morneau stepped down from the post over policy differences. In addition to the cabinet shuffl...
Inflation woes: Amid coronavirus crisis rail fares to rise by 1.6 per cent
August 18, 2020 05:00 PM BST| By Kunal SawhneyBritish commuters would need to pay an extra 1.6 per cent from January 2021 if they opt to travel by railways. This rise in fare would mean an additional expense of around £100 to the cost of several annual season tickets. The increas.....
Fear of second wave of coronavirus in the EU: Ryanair to reduce its flight capacity
August 18, 2020 02:20 PM BST| By Hina ChowdharySummary Amid the fears of a second wave of the coronavirus cases in the EU, Ryanair announced to decrease its flight capacity by 20 per cent for the months of September and October 2020. The airline plans to reduce the frequency of its flights .....
Commercial Leases Getting Shorter in The UK - What Does It Mean for The Real Estate Sector?
August 18, 2020 02:10 PM BST| By Kunal SawhneySummary Shorter leases would translate to lesser certainty over rental incomes and future occupancy Businesses have struggled to clear their rent dues during the unprecedented crisis Investors need to be watchful of investing in the real estat.....
British Households Cut Back Spending This August As They Fret for Job Security
August 18, 2020 02:00 PM BST| By Team Kalkine MediaSummary IHS Markit Household finance index for the month of August fell to 40.8 from 41.5 recorded in the month of July. Income from employment has fallen sharply during the month of August, while the public perception regarding job security re.....
Future of UK Energy suppliers as the furlough scheme ends, Focus on Centrica
August 18, 2020 05:33 AM BST| By Kunal SawhneyLarge energy supplier organisations such as Centrica and Bulb fear a rise in their debt levels, in case consumers are unable to pay their electricity bills. With the government job retention scheme drawing close to an end in October 2020, une.....
UK Witnesses Highest Number of Job Advertisements Since Lockdown in August First Week
August 17, 2020 08:38 PM BST| By Team Kalkine MediaSummary The REC tracker showed 10 million active job postings in the week starting 3 August 2020, up from 1.04 million in the week before There was a rise witnessed in vacancies for blue-collar workers, including gardeners, debt collectors, con.....
Tata’s Step Ahead of the Failure to Secure Financial Assistance
August 17, 2020 02:14 PM BST| By Hina ChowdharySummary Covid-19 is having a severe impact on the globally integrated automotive industry of the United Kingdom The Tata Group might look for a strategic partner for Jaguar Land Rover (JLR), as a result of the failure in securing a fi.....
What Next For The Ailing UK Economy?
August 17, 2020 02:11 PM BST| By Team Kalkine MediaThe UK’s economy contracted by more than 20 per cent during the second quarter of 2020, much more than US or most parts of the Europe. While the Boris Johnson government is being blamed for imposing a late and long-stretched lockdown that cau.....
Housing market trends: Boom continues with £37 billion summer sales
August 17, 2020 02:11 PM BST| By Kunal SawhneySummary Property firm, Rightmove, reported that the summer month of July 2020 was its busiest month in a decade with boom in housing market led total sales at approximately £37 billion. This was £12 billion more residential...
The British Government Extends the Self-Employment Income Support Scheme
August 17, 2020 02:10 PM BST| By Team Kalkine MediaSummary The government announced the second call for Self-Employment Income Support Scheme (SEISS), just a week after the Office of National Statistics reported that nearly 750,000 jobs had been lost since the imposition of Lockdown in March Th.....
UK Supermarkets Bracing Up for A Face-Off with Online Market Place-Tesco And Ocado In Focus
August 17, 2020 02:00 PM BST| By Team Kalkine MediaSummary Supermarkets expect a surge in online deliveries as half a million people are likely to go into quarantine Tesco is going to waive basic delivery charge of £4.50 to tackle Amazon, a US technology firm which operates on a similar c.....
Job market crisis: Coronavirus pandemic takes away 730,000 jobs and brings huge pay cuts
August 16, 2020 02:20 AM BST| By Team Kalkine MediaSummary The job market is reeling due to the economic crisis brought in by the coronavirus pandemic. According to the latest data from the ONS, 730,000 jobs have been lost since the lockdown shut business activities. The wages over the three .....
Banking And Fintech Collaboration: Does The Road Less Travelled Hold Potential?
August 16, 2020 01:40 AM BST| By Hina ChowdharySummary Banks are increasing adopting fintech solutions, and coronavirus pandemic has fastened the rate Usage of online banking by adults in Britain jumped from 72 per cent in 2018 to 80 per cent in 2019: UK Finance Neobanks or &lsqu.....
How Long Does the Woes of Travel-Tourism and Aviation Sector Will Continue Post Lockdown?
August 16, 2020 01:18 AM BST| By Kunal SawhneySummary France becomes the latest entrant in the list of UK quarantine countries Spain was removed from travel corridor list in last week of July after reports of a rise in infection Travel & Tour companies in focus: easyJet & TUI .....
Airbnb Restricts Unofficial Parties under-25s; Q2 Revenue Falls but IPO Plans On
August 16, 2020 01:00 AM BST| By Team Kalkine MediaAirbnb Inc, the online marketplace for vacation rentals has been making news recently, first the company declared its second quarter (Q2) earnings and firm plans of IPO, secondly its announcement to confine bookings for unauthorised parties through.....
PE Fund Activity Slumps to A Two-Year Low, hit By the Coronavirus Pandemic
August 15, 2020 01:05 AM BST| By Team Kalkine MediaSummary Worldwide Private Equity firms raised around $116 billion in funding during the April to June quarter, which is the lowest since the first quarter of 2018 Following the lockdown, in major cities in Europe, 45 Private Equity and Venture .....
Coronavirus effect: July sales in UK pub, bar and restaurant chains down at 50 per cent
August 14, 2020 08:47 PM BST| By Team Kalkine MediaSummary According to data from the latest monthly Coffer Peach Business Tracker, sales in July 2020 were down 50.4 per cent on year-on-year basis. Reluctance from the customers to come out for eating and drinking impacted the sales and spiked t.....
