The International Monetary Fund has laid out the unprecedented economic devastation caused by the coronavirus pandemic, sharply lowering its forecast for global growth this year. The IMF said on Wednesday that this ‘crisis like no other’ would send the global GDP plunging by 4.9 percent this year and wipe out an astonishing $12 trillion over two years. … Read more
When it was announced in March, the Government’s Job Retention Scheme was rightly hailed as an unprecedented and inspired policy to save British business. And yet, as the cost of furloughing more than quarter of the entire workforce passes £20billion, and with still no end in sight, I fear it could end up being the most … Read more
When it was announced in March, the Government’s Job Retention Scheme was rightly hailed as an unprecedented and inspired policy to save British business. And yet, as the cost of furloughing more than quarter of the entire workforce passes £20billion, and with still no end in sight, I fear it could end up being the most … Read more
This year’s events may be a surprise to many Americans, but one scientist predicted predicted the current political, economic and social instability a decade ago. Peter Turchin, a researcher at the University of Connecticut, published a paper in 2010 forecasting that these instabilities would peak around the year 2020. He highlights a rise in public … Read more
MARKETS LIVE: Shares up after positive US economic data; Lookers to shut dealerships; Aston Martin to cut 500 jobs By Harry Wise For This Is Money and Jane Denton For Thisismoney Published: 08:00 BST, 4 June 2020 | Updated: 09:40 BST, 4 June 2020 Markets rose today after Wall Street gained on surveys showing better … Read more
Even now, when the lockdown is beginning to ease, it is an eerie experience to walk down your local High Street. Most shops are still shuttered. The restaurants are dark, the pubs abandoned. The dusty pavements stretch out in front of you, silent and empty, weeds poking through the cracks. Sometimes I feel as if I’ve … Read more
Boris Johnson’s government has made many startling missteps as it has sought to manage the coronavirus pandemic. Some have been understandable; this is a new virus and the havoc wreaked, unprecedented. Others have been the result of incompetence or complacency. There is one ‘misstep’, however, that stands out as profoundly stupid. That‘s the decision to … Read more
The UK is suffering far graver economic damage than Sweden after Britain imposed a lockdown and the Scandinavian country did not. Britain’s GDP has already seen a larger slump than Sweden’s this year – with only one week of lockdown included in the figures so far. The UK’s construction and retail sectors both saw their … Read more
The UK is suffering far graver economic damage than Sweden after Britain imposed a lockdown and the Scandinavian country did not. Britain’s GDP has already seen a larger slump than Sweden’s this year – with only one week of lockdown included in the figures so far. The UK’s construction and retail sectors both saw their … Read more
Chancellor Rishi Sunak warns of economic ‘scarring’ from coronavirus saying there might not be an ‘immediate bounceback’ – as he hints self-employed bailout will not carry on past June Chancellor highlighted the threat of ‘scarring’ as he said it would ‘take time’ for people to get ‘back to normal’ Mr Sunak pointed to predictions unemployment … Read more