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Economy
Employers Turn Bullish on Jobs and Investment in the UK
July 24, 2020 01:30 PM BST| By Hina ChowdharySummary It is the first time since February 2020 that the businesses have been positive on creating jobs There are many businesses who have been on a hiring spree, Hermes announced plans to create more than 10 thousand jobs in the UK Most of t.....
Britain Preparing to Settle for A No-Deal Brexit as Talks Remain Stalled
July 23, 2020 09:15 PM BST| By Kunal SawhneySummary The British government seems to have lost confidence in the Brexit negotiations that have been going on between the two sides since January this year The bone of contention in the negotiations is on two subjects, one of the fishing righ.....
Aviation Sector Needs Government Support to Put A Check on Relentless Job Losses
July 23, 2020 09:06 PM BST| By Team Kalkine MediaSummary The slump in air traffic has led to a significant increase in pay cuts and job losses in the industry Ryanair is going to shut its base at the Frankfurt Hahn airport as its German pilots refused the pay cuts British Airways, Lufthansa.....
UK Quarterly Borrowings A Cause For Concern
July 23, 2020 02:10 PM BST| By Kunal SawhneySummary Government borrowings touched a record high level during Q2 2020 This was a result of the various schemes announced to combat the unprecedented coronavirus crisis The splurge in government expenses seems far from being over, as the eco.....
EU Reaches A Deal To Create A €750 Billion Recovery Fund
July 22, 2020 11:51 PM BST| By Kunal SawhneySummary Deal reached after five-day marathon meet between the EU leaders in Brussels, to agree on an economic recovery plan, that would see billions being given to European countries most affected by the coronavirus pandemic. The discussions w.....
British Exchequer To Review All Its Spending Plans For The Next Five Years
July 22, 2020 02:10 PM BST| By Hina ChowdharySummary The British government has incurred an unprecedented debt in the recent past to support the pandemic-struck sluggish UK economy Chancellor Sunak clarified that the review is not a rethink of the commitments made by the government in it.....
Britain's Grocery Sales Returning to Pre-Lockdown Levels as Frenzied Buying Stops
July 22, 2020 02:00 PM BST| By Kunal SawhneySummary Shopping trends are returning towards normality as lockdown eases People have witnessed negligible disruption in the supply of essentials, and there is no panic buying Retailers have now reopened all their stores for the public with en.....
Cultural Events in The UK Get Green Signal with Appropriate Social Distancing Measures
July 21, 2020 10:45 PM BST| By Kunal SawhneySummary The government has given a go-ahead for the opening of indoor performing arts events in the United Kingdom from 1 August 2020 and conferences from 1 October 2020, but with adequate social distancing measures Operas, orchestras, and othe.....
A Notable Drop Seen In The Household Income During May 2020 For The UK
July 21, 2020 10:08 PM BST| By Team Kalkine MediaSummary Households in the United Kingdom have witnessed the worst income shock since the 1970s oil crisis: Resolution Foundation report The scenario is expected to worsen once the furlough support gets withdrawn in October 2020 Gender-pay pari.....
Bank Of England Sees The British Economy Making A Sharp Turnaround
July 21, 2020 01:30 PM BST| By Team Kalkine MediaSummary The chief economist of BOE Andy Haldane believes that the British economy is witnessing a V-shaped recovery since the beginning of May 2020 Main risk factor that could jeopardize this recovery is the rising unemployment levels across th.....
Retail industry faces ‘COVID-19 hangover’ as consumers spend with caution
July 21, 2020 07:00 AM BST| By Team Kalkine MediaSummary The pandemic has left major impact on Canada’s struggling retail industry Consumer behavior has changed forever, and rules of retail are being rewritten by the new normal After historic declines in March and April, May retail fig.....
Japanese Exports face the Steepest Plunge as Economy sinks into Recession
July 21, 2020 05:29 AM BST| By Team Kalkine MediaSummary 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 the previous quarter. Exports plunged 26.2% in June from a year ago as overseas demand for cars, an.....
British Lenders May Discontinue Many Categories of Loan Offerings on Fear of Default
July 20, 2020 08:55 PM BST| By Team Kalkine MediaSummary Many of the British lenders expect households and businesses to default on their debts The prices of mortgage contracts are expected to rise in the short term. The banks witnessed an increase in credit offering to the corporate sector .....
Education sector in the UK in a dire state, 13 Universities on the brink of collapse: IFS
July 20, 2020 02:00 PM BST| By Hina ChowdharySummary British Universities earn nearly £40 billion annually, most of which is under risk now as a result of the coronavirus pandemic Without a bailout package from the government, 13 universities in the country run the risk of going ban.....
47,000 more youngsters went jobless during March to June 2020, compared to same period last year
July 20, 2020 01:55 PM BST| By Kunal SawhneySummary The furloughing scheme has masked the true state of joblessness in the country; however, the corona-impact is more visible in new people joining the workforce Centrica Plc is suggesting its staff to accept modified work contracts, that.....
Double-dip Recession: A possibility in the US?
July 20, 2020 11:28 AM BST| By Team Kalkine MediaSummary The resurgence of COVID-19 cases in some nations worldwide along with the US has sparked fears and risk of another global economic downturn. The rapid acceleration of coronavirus cases in the US is threatening the economic recovery of t.....
Manufacturers in The UK Wary of The Outcome If a Brexit Deal Does Not Materialise
July 18, 2020 05:35 PM BST| By Hina ChowdharySummary The coronavirus pandemic has delayed the Brexit-deal negotiations between the UK and EU, with now only six months to go before the EU common area regulations expire Should a deal fail to materialize in time major manufacturing regions l.....
Banking Sector Lobby Group Asks the Government to Treat Covid-19 Loans Like Student Loans
July 18, 2020 05:31 PM BST| By Kunal SawhneySummary Banking sector lobby group TheCityUK feels that Covid-19 loans should be treated like student loans to make it easy for businesses to repay them £64 billion worth of debt would be at risk of going bad, and nearly 800,000 firms wou.....
UK Witnesses Spike in IT Job Advertisements with The Ease in Lockdown
July 18, 2020 05:27 PM BST| By Team Kalkine MediaSummary The coronavirus appeared not that big an issue for the technology sector, which is a very diversified sector. IT and technology jobs have dominated the whole employment sphere in terms of the active number of job postings. The business.....
UK’s CPI Inflation Increases To 0.6% In June Aided by Games and Clothing
July 17, 2020 08:30 PM BST| By Team Kalkine MediaSummary Gaming consoles and clothing pushed UK inflation upwards during the month of June Prices of men’s clothing and women’s clothing have increased across the range CPIH 12-month inflation rate, which includes owner occupiers' h.....
