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Economy
UK Universities See Rise in Pension Deficit Due to Coronavirus-led Crisis
July 30, 2020 08:55 PM BST| By Kunal SawhneySummary The Universities Superannuation Scheme’s funding deficit for the end of March 2020 has increased to £12.9 billion The major reasons behind the rise in deficit numbers are increased fall in interest rates due to the Coronavir.....
BRC Issues Warning Over Potential Online Sales Tax
July 30, 2020 08:46 PM BST| By Team Kalkine MediaSummary Britons still are fearful when it comes to shopping from high street retail and public squares Government has been planning to impose different tax regime for the online retailers Tesco Plc has been doing well as compared to its German.....
Britain Seeks To Expand The Scope Of CBIL Scheme As EU Relaxes Its State Aid Rules
July 30, 2020 02:10 PM BST| By Team Kalkine MediaSummary There were several small businesses who could not avail of the CBILS facility, due to the Brexit transition period regulation in force in the UK till 31 December 2020. Now that the EU has relaxed its laws, the government plans to expand .....
UK Car Output Plunges by 48.2% Year on Year in June 2020
July 30, 2020 01:42 PM BST| By Kunal SawhneySummary Britain’s new car manufacturing declined by 48.2 per cent year on year in June The export production plummeted by 45 per cent year on year UK’s automotive sector has pinned high hopes on free trade agreements No indust.....
The Government May Extend “Help to Buy” Scheme to Boost Demand in The Housing Sector
July 29, 2020 08:41 PM BST| By Team Kalkine MediaSummary The “help to buy” scheme was introduced by the government to provide a boost to the housing sector and is scheduled to end by the end of this year. The scheme was first rolled out in 2013 and is meant to help home buyers buy.....
UK Retailers Scale Back Discounts in July As Demand Picks Up
July 29, 2020 01:50 PM BST| By Hina ChowdharyThe month of July has been particularly eventful for the British retail sector. While the lockdown months saw a massive demand increase in the online food and beverage segment, the opening of the lockdown has seen the demand for consumer electronic.....
Impact of Covid-19 on means of Commuting in the UK
July 28, 2020 02:10 PM BST| By Kunal SawhneySummary Transport, both public and private came to a standstill due to Covid-19 pandemic Alexander Dennis Limited is going for 650 job cuts in the UK due to decrease in UK demand for new buses There has been repeated call from ADL upon the UK .....
Londoners Spent the Least During the Lockdown
July 28, 2020 02:02 PM BST| By Team Kalkine MediaSummary Affluent sections of the British society have spent a lot less during the lockdown than the low- and medium-income groups London and South East England witnessed the least amount of household expenditures during the lockdown period than.....
Impact of Coronavirus: Travel and Tourism Industry on A Slow Path to Recovery
July 27, 2020 06:45 PM BST| By Team Kalkine MediaSummary Travel and Tourism have been one of the first to be hit hard by the global pandemic, there have been mounting revenue losses and job cuts across the sector Spike in infections and inadequate testing facilities create fears among the tra.....
The United Kingdom to Enact New Consumer Laws as Online Retailing Expands in The Country
July 27, 2020 02:11 PM BST| By Kunal SawhneySummary Britain to launch a consultation process before new consumer laws are enacted to protect them against potential pitfalls as the number of pre-paid transaction in the retail industry rise exponentially Since the outbreak of the Coronavir.....
Boris Johnson Mulling Over Raising Taxes To Fund The Cost Of Social Care
July 27, 2020 01:01 PM BST| By Team Kalkine MediaAs per expert estimates, the cost of social care in Britain is projected to rise by an addition sum of £7 billion every year. Johnson had promised to bring out a comprehensive set of social care reforms more than a year ago, in June 2019. He.....
US-China Row Jitters the Businesses Across the Globe
July 26, 2020 08:43 AM BST| By Kunal SawhneyThe stock markets in Europe and the United Kingdom retreated on Friday, 24 July 2020. FTSE 250, the midcap index, was down by 1.28 per cent to 17,264.84. Cineworld Group Plc (LON: CINE) was amongst the top fallers; the stock plunged by 14.28 per ce.....
Need of An Infrastructure Bank for the UK And Role of Private Investors
July 25, 2020 10:35 PM BST| By Team Kalkine MediaSummary The UK treasury plans to create a new public infrastructure bank to finance capital projects In May 2020, John Armitt, chair of NIC called for the creation of infrastructure bank as an alternative to EIB. Investors .....
UK Services and Manufacturing Sectors Display High Growth
July 25, 2020 02:00 PM BST| By Team Kalkine MediaSummary IHS Markit/Cips UK Services PMI bounced to 56.6 in July 2020 compared to a value of 47.1 in the previous month of June The recovery is seen to be broad-based across the sub-sectors This is the fastest monthly growth observed since the.....
Canada’s inflation leaves negative territory, increases 0.7 percent in June
July 25, 2020 07:20 AM BST| By Team Kalkine MediaCanada’s benchmark inflation measure, the Consumer Price Index (CPI), grew 0.7 percent year-over-year in June, marking its return to positive territory. The inflation had turned negative in April following the enforcement of strict containmen.....
UK Open Pathway of Citizenship for the Hong Kong BNO Status Holders
July 24, 2020 09:30 PM BST| By Team Kalkine MediaSummary The UK government has announced regulation giving Hong Kong BNO status holders the opportunity to become full citizen in six years The pathway paves the way for Hong King citizens and their immediate family members who have the BNO stat.....
Retail Sales Volume and Value Increases in the Month of June in the UK
July 24, 2020 02:50 PM BST| By Team Kalkine MediaSummary Increase in the value sales and volume sales was seen in June by 13.6 per cent and 13.9 per cent respectively compared to that in May 2020 The total retail sales continued to increase in June, reaching similar levels as pre-pandemic, wi.....
Government Urged To Support People Left Out Of The Furlough Scheme
July 24, 2020 02:40 PM BST| By Kunal SawhneySummary MPs have blamed the UK Treasury for leaving out more than one million people out of its furlough scheme for employees and the self-employed. They have called upon Rishi Sunak, the Treasury Chancellor to plug any gaps and offer support .....
Consumer Confidence Improves Slightly In July 2020, But Still Remains Negative
July 24, 2020 02:35 PM BST| By Hina ChowdharySummary The Gfk consumer confidence index at 3 July 2020 improved to (–27), from (–30) recorded in the previous month of June; however, it remains far below its last year level A closer look at the performance of all the 5 sub-compo.....
Is Oneweb’s Revival by The UK Government A Reason to Worry?
July 24, 2020 01:39 PM BST| By Kunal SawhneySummary The UK MPs started an inquiry into the government's investment of $500mn (£400mn) in OneWeb, amid an expose from a top official. As part of the post–Brexit strategy on space programmes, the government along with Indian telec.....
