The UK pound passed US$1.40 on Friday for the first time in nearly three years. Just after 1.30pm, the pound was up 0.4% on the day but earlier it hit $1.4024 – its highest since 20 April, 2018. The UK’s rapid COVID-19 vaccination programme has sparked hopes that there might be a sharp economic recovery […]
View PostThe European Commission says it will start work on allowing police and financial data to continue to flow from the EU to the UK for the next four years. It comes after the commission said the UK’s data protection laws were in line with Europe’s, despite the changes brought about by Brexit. After the UK […]
View PostNew streaming service Disney+ has signed up nearly 95 million subscribers in just over a year, the entertainment giant has revealed. Disney’s latest quarterly results showed continued rapid growth for the direct-to-consumer channel, set up in November 2019 to compete with the likes of Netflix. Disney+ had 94.9 million paid subscribers as of 2 January, […]
View PostUS jobs growth bounced back less than expected in January while losses the previous month were worse than initially thought, latest figures show. The first set of employment data under President Joe Biden underlines the scale of the economic challenge faced as he seek to push through a $1.9trn COVID-19 recovery package. The Labor Department […]
View PostThe US economy suffered its worst annual decline for 74 years in 2020 as the pandemic crushed business activity and pushed millions of Americans out of work, official figures have shown. Gross domestic product (GDP) shrank by 3.5%, the biggest fall since 1946 when America was demobilising after the Second World War. Output is now […]
View PostThe company says it is well positioned to capitalise on the Brexit deal and is set to create more jobs on Wearside. Nissan has hailed the Brexit deal, saying the agreement will give it a “competitive advantage” as it committed to produce new electric vehicle batteries at its Sunderland plant. Chief operating officer Ashwani Gupta […]
View PostPresident-elect Joe Biden has revealed a $1.9trn stimulus package to help the US get through the coronavirus pandemic. The package includes $415bn for the virus response, around $1trn for households, and roughly $440bn for small businesses and hard-hit communities. Mr Biden said: “A crisis of deep human suffering is in plain sight, and there’s no […]
View PostUS employers shed jobs last month for the first time since April, a sign that the economy is struggling under the weight of the coronavirus pandemic. The world’s biggest economy saw non farm payrolls decrease by 140,000 jobs in December, meaning the US has recovered just over half of the 22.2 million jobs that were […]
View PostThe FTSE 100 has clocked up its worst year since the 2008 financial crisis – underperforming against global rivals that have bounced back following a coronavirus sell-off earlier in the year. London’s leading share index closed at 6460.5 in a shortened closing session on New Year’s Eve, 14.3% down over the course of 2020. It […]
View PostOn Monday, EU ambassadors met to unanimously approve the post-Brexit trade agreement as part of Brussels’ own ratification process. It means the deal, covering £660bn of trade, can now move on to formal ratification by the European Parliament – although this is set to come after the deal is already in place in the New […]
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