Tag Archives: UK

British Finance Minister Rishi Sunak said Tuesday that his country cannot continue to borrow huge sums in the long term because it is not sustainable for the economy. “It is clear that this year we have had to borrow huge sums to support the economy in a time of crisis, …

The European Union has launched a legal case against the United Kingdom on Thursday over its plans to pass legislation that would breach parts of the legally binding Brexit agreement the two sides reached late last year. Johnson risked proposing legislation that would repeal parts of the EU Withdrawal Agreement that …

The UK manufacturing sector activity expanded less-than-expected in September, the final report from IHS Markit confirmed this Thursday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) was revised lower to 54.1 in August from 54.1 preliminary estimates. Rob Dobson, Director at IHS Markit, which compiles thesurvey:“September saw …

The Bank of England’s chief economist, Andy Haldane crossed the wires in the last hour and ruled out the possibility of negative rates in the short-term. Haldane said that conditions to negative interest have not been met yet. “None of the conditions for negative rates has been satisfied.Work on negative …

The final reading of Q2 UK GDP came in at -19.8% QoQ vs. -20.4% expected and -20.4% last while on an annualized basis the figure stood at -21.5% vs. -21.7% expected and -21.7% seen previously. The Current Account numbers for Q2 came in at GBP-2.8 B versus GBP-0.4 B expected …

European Union chair Germany has proposed a rule of law scheme for accessing EU funds in negotiations between member states and the European parliament, Reuters reported on Monday, citing an internal document. Quotes according to Reuters “Rule of law is essential, important to protect the EU’s financial interests, impartial courts.”“Respect for …

Britain’s public borrowing increased again in August, reaching a new record high, driven by massive spending to combat the Coronavirus pandemic, with the budget deficit since the start of the current tax year surpassing its full-year peak during the global financial crisis. The government has now borrowed 173.7 billion pounds …

Ireland’s Minister of Foreign Affairs and Trade, Simon Coveney, recently said that the United Kingdom (UK) is making negotiations for a new trade deal with the European Union (EU) more difficult by pushing for legislation that undermines international law. “There is a growing sense that perhaps the United Kingdom does …

British Prime Minister Boris Johnson said on Thursday that they are doing everything they can to support jobs and added that he fully supports the package of measures that they have jointly drawn up with Finance Minister Rishi Sunak. “Getting virus under control will be the best thing for jobs …

The UK manufacturing and services sector activities showed mixed performance in September, the preliminary report from IHS Markit showed this Wednesday.  The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dropped to a two-month low of 54.3 in September versus 54.3 expected and 55.2 – August’s final reading. …