StockBeat: Frasers, JD Sports, Boohoo Set to Cash in on U.K. Retail Crisis
By Geoffrey Smith Investing.com — The crisis in the U.K. retail sector is coming to a head thanks to Covid-19, and while the identify of the losers has been clear for a while, it’s still far from clear who will be the big winners. No amount of government help, furlough Continue Reading
UK mortgage approvals jump again to 13-year high
LONDON (Reuters) – British lenders approved the highest number of mortgages in over 13 years in October, Bank of England data showed on Monday, suggesting no let-up yet in a post-coronavirus lockdown bounce-back in the country’s housing market. Mortgage approvals for house purchase hit 97,532, up from 92,091 in September Continue Reading
ECB sees lower inflation but growth outlook brighter: de Guindos
FRANKFURT, Nov 28 (Reuters) – The European Central Bank expects prices in the euro zone to keep falling this year and rebound more slowly in 2021 than it previously thought even as the prospect of a coronavirus vaccine boosts the growth outlook, ECB vice president Luis de Guindos said in Continue Reading
UPDATE 1-UK shares set for weekly loss on vaccine doubts, Brexit concerns
Nov 27 (Reuters) – London stocks slipped on Friday, set for their first weekly loss this month on doubts over the efficacy of AstraZeneca’s COVID-19 vaccine and concerns over a post-Brexit trade deal with the European Union. The blue-chip FTSE 100 index UK100 fell 0.7%, while the domestically focussed mid-cap FTSE 250 Continue Reading
Decisive days for UK trade pact, EU prepares for no-deal Brexit
BRUSSELS (Reuters) – The European Commission cannot guarantee there will be a trade pact with Britain after its departure from the European Union and the coming days will be crucial, the EU’s chief executive said on Wednesday, adding the bloc was prepared for a no-deal. “The next days are going Continue Reading
Factbox: Brexit and the City of London: what changes and when
LONDON (Reuters) – Britain, which left the European Union in January, loses full access to the bloc under transition arrangements that end at 2300 GMT on Dec. 31. The EU is Britain’s biggest financial services customer, worth about 30 billion pounds ($40 billion) a year. The relationship has helped keep Continue Reading
Sunak: no return to austerity in new spending plan
By William Schomberg and Paul Sandle LONDON (Reuters) – British finance minister Rishi Sunak said there would be no return to austerity in a spending plan he will announce on Wednesday, even as the coronavirus crisis pushes Britain’s further above 2 trillion pounds ($2.7 trillion). Sunak, who has rushed out Continue Reading
Pandemic fuels global ‘debt tsunami’
The coronavirus crisis has caused global debt to rise at an unprecedented pace. In the first nine months of the year governments and companies have embarked on a ‘debt tsunami’, according to new research. The total level of global indebtedness has increased by $15tn this year, leaving it on track Continue Reading