The governor of the Bank of England (BoE) has said the UK economy is facing a “historically unprecedented” hit this year, hours after it ramped up virus crisis support by £150bn. Andrew Bailey spoke about twin threats to growth from renewed coronavirus lockdowns and Brexit disruption after the latest meeting of the Bank’s Monetary Policy […]

The US economy grew at an annual rate of 33.1% in the third quarter, by far the largest quarterly gain since records began in 1947. It follows a historic 31.4% decline during the second quarter, as the US was among many world economies hit by the coronavirus pandemic. The US government reports quarterly GDP changes […]

Aston Martin Lagonda says Mercedes is to own up to fifth of its shares under plans to turn around its fortunes. The maker of James Bond’s favourite car said it was to expand the investment partnership between the pair through greater access to the German company’s hybrid and electric technology in exchange for a shareholding […]

The UK and Japan have signed a free trade agreement at a ceremony in Tokyo, hours before negotiations on a post-Brexit deal with the European Union are due to resume. The UK-Japan Comprehensive Economic Partnership Agreement (CEPA), which was agreed in principle last month, marks Britain’s first deal with a major economy since Brexit. The […]

Shares in Tesla have risen after the electric car maker reported its fifth consecutive quarterly profit. While markets struggled Wednesday Tesla share were up at close and after market close they were up a further 3%. The California-headquartered company has overcome disruptions caused by the COVID-19 pandemic to post a 39.2% increase in third-quarter revenues […]

China’s economic recovery accelerated in the third quarter as consumer spending picked up and factories rushed to meet global demand for medical equipment such as face masks, according to official figures. The world’s second-largest economy suffered its worst quarterly fall in output since the 1960s between January and March as it became the first to […]

Week Ending Friday 16th October 2020 Stocks were mixed as giant technology companies dropped amid Friday’s expiration of equity options. Earlier gains were driven by better-than estimated economic data. The dollar fell. The S&P 500 closed little changed, while still notching its longest weekly advance since August, and the Nasdaq 100 dropped. Amazon.com Inc. sank […]

Brexit: Michel Barnier told to stay home after Boris Johnson says EU ‘abandoned free trade deal’ The UK’s chief Brexit negotiator has told his European counterpart not to come to London on Monday to resolve stalled talks, after the prime minister warned it was time to “get ready” to leave without a deal. David Frost […]

China’s policy makers acted to restrain a rally in the yuan by removing rules that made betting against the currency expensive. Financial institutions will no longer need to set aside cash when purchasing foreign exchange for clients through currency forwards, effective from Monday, according to a statement from the People’s Bank of China on Saturday. […]

The UK economy grew 2.1% in August but remained 9.2% below its February level, official figures show. Even the Eat Out To Help Out scheme failed to get the economy anywhere near the 4.6% rise analysts had been expecting. The Office for National Statistics said the manufacturing sector grew by 0.7% (still 8.5% below February’s figure) and […]