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Economy
Coronavirus effect: Virgin Atlantic’s bankruptcy increases spotlight on airline stocks
August 05, 2020 02:00 PM BST| By Team Kalkine MediaSummary Facing the Covid-19 crisis, Virgin Atlantic filed for bankruptcy after a month old announcement of securing £1.2 billion in funding. Despite higher cost and lower income, airlines need to invest in safety measures to check the spr.....
Goods exports to China are now nearly half of the total Australian Exports
August 05, 2020 01:10 PM BST| By Team Kalkine MediaSummary Australian trade surplus rocketed to $8.2 billion in June 2020, driven by rising export of iron ore to China where surged steel production culminated in high iron ore demand. The robust trade statistics come at a time when severe .....
Prime Minister Scott Morrison’s Plan on Economic Recovery – 5 Aspects to be Looked at
August 05, 2020 12:45 PM BST| By Edita IvancevicSummary A recent emergency state declared in Victoria put new challenges to the Australian health and economy. JobTrainer program is expected to create more jobs that will be needed in the future. Mr Morrison is planning to invest a lot of mon.....
Job losses Continue Unabated at Major British Companies
August 05, 2020 09:15 AM BST| By Team Kalkine MediaThe spate of job losses in the United Kingdom is not showing any signs of abatement even after the lockdown has been opened in the past three months. Many major companies in the country have announced redundancies in the last month despite evidence.....
Northern Ireland To Remain Out of The Purview of UK’s Green Car Emission Restrictions Post 31 December
August 04, 2020 11:24 PM BST| By Hina ChowdharySummary The 31 December 2020 end of EU regulation in the United Kingdom will not be fully implemented in Northern Ireland, and it will continue to be under the EU framework All new cars being sold in Northern Ireland will be counted as EU sales.....
British Manufacturing Output Bounces Back in July, driving the FTSE indices up
August 04, 2020 11:14 PM BST| By Kunal SawhneySummary Fastest growth rate observed in the IHS Markit/CIPS UK manufacturing PMI during the past three years The main reason is that the British factories have reopened after the lockdown restrictions were lifted up, and are taking on more work.....
Furlough Scheme’s End in October And New Lockdown Restrictions to Result in More Job Cuts
August 04, 2020 07:25 PM BST| By Team Kalkine MediaSummary There is a fear that gradual phase-out of the furlough scheme over a period of next three months would result in additional job cuts A research pointed out that furloughed workers were three times more likely to default on various payme.....
Taking A Closer Look At The Income And Wealth Inequalities In Britain
August 03, 2020 02:20 PM BST| By Kunal SawhneySummary Leading economic thinktank data suggests that while geographical income inequalities are falling across regions overtime in Britain, the wealth inequalities are rising. At the same time, according to the UK government statistics, the di.....
Covid-19 Impact: Leading Banks in the UK Braced for Losses
August 03, 2020 02:10 PM BST| By Team Kalkine MediaSummary Full year 2020 impairment charge of NatWest bank is likely to be in the range of £3.5-4.5 billion due to a gloomy UK outlook HSBC's PBT plummets 65 per cent amid coronavirus downturn The country’s struggling banks point out.....
UK House Price Growth Rate in July Breaks A 11 Year Record
August 03, 2020 02:00 PM BST| By Team Kalkine MediaSummary The nationwide house price index rose by 1.7 per cent in July, which is the highest monthly leap in prices since August of 2009 when the market was recovering from the financial crisis Bank of England had also reported that the mortgage.....
UK staycations see a boom as Britishers avoid foreign holidays amid quarantine rules for returning from Spain
August 03, 2020 12:13 PM BST| By Team Kalkine MediaStaycations within the UK have recorded a huge rise in inquiries and bookings in past few days as Britishers are looking to spend their holidays within the country to avoid undergoing 14-day quarantine after returning from their foreign holidays. T.....
John Lewis Partnership Mulls Proposals to Turnaround Company, Expand Beyond Retail
August 02, 2020 01:15 AM BST| By Hina ChowdharySummary John Lewis wants some of its closed stores to be converted to affordable housing The company wants to sell its own-label food through its own stores as well as through other retailers’ stores The company is one of the very few in.....
UK Manufacturers to Bring Work Home After Coronavirus Exposes Flaws in Global Trade
August 02, 2020 01:10 AM BST| 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 01:00 AM BST| 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 01, 2020 03:00 PM BST| 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 01:00 AM BST| 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
July 31, 2020 11:42 PM BST| 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
July 31, 2020 08:04 PM BST| 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
July 31, 2020 04:37 PM BST| 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 30, 2020 09:05 PM BST| 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.....
