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Evening Standard
Pubs and restaurants boost economy, but GDP recovery is slowing
THE UK economy grew in May for the fourth month running, but at a much slower rate than earlier in the year.A return of indoor drinking and dining boosted the hospitality sector, with GDP up 0.8% in May. That was much lower than in March and April, when growth was above 2%.Yael Selfin, Chief Economist at …
Business
Evening Standard
FTSE 100 set for slight bounce after heavy falls but Bitcoin remains in the doldrums
The FTSE 100 Index was set to make a partial recovery from yesterday’s heavy falls but Bitcoin was showing no signs of any rally.Share prices and crypto currency valuations fell heavily on Thursday, the former due to increasing nervousness about the Covid pandemic worldwide.Investors are concerned the Delta variant is spreading wildly in many parts …
Business
Sky News
GDP growth in May falls short of expectations despite easing of COVID restrictions
The economy grew by 0.8% in May – a figure that fell well short of economists’ expectations and is 3.1% below its pre-pandemic peak.The figure was just over half of the 1.5% growth forecast by economists and it was also lower than the 2% growth seen in April, when restrictions eased for non-essential retailers, hairdressers, …
Business
Business Weekly
£312m-plus haul for F-star from AstraZeneca cancer deal
In an all-Cambridge deal, F-star Therapeutics has lined up a huge payback from a licensing agreement with AstraZeneca. AstraZeneca will receive global rights to research, develop and commercialise next generation Stimulator of Interferon Genes (STING) inhibitor compounds from F-star. F-star is now eligible to receive upfront and near-term payments of up to $12 million. It …
Business
Sky News
Competition watchdog chief Coscelli to step down next year
The chief executive of the competition watchdog is preparing to step down next year, creating a further vacancy at the helm of one of Britain’s most powerful economic regulators.Sky News has learnt that Andrea Coscelli has informed colleagues that he does not intend to seek a further term at the Competition and Markets Authority (CMA), …
Business
Euro News
Europe’s central bank will allow higher inflation to hit climate goals
The European Central Bank has adopted a new approach to managing the economy that would tolerate transitory periods of consumer inflation moderately above its 2% goal, and take greater account of climate change in its forecasting and stimulus programmes.The central bank for the 19 countries that use the euro said it was replacing its previous …
Business
Sky News
Lloyds ‘sorry’ as bank fined £91m for misleading insurance customers
Lloyds Banking Group has been fined £91m by the City regulator for misleading millions insurance customers on renewal charges over eight years.The Financial Conduct Authority (FCA) said the penalty related to notices sent to nine million existing customers by several of its insurance units between 2009 and 2017. The watchdog said the letters had claimed …
Business
Sky News
Why talk of economic benefits from England’s Euro 2020 run is wide of the post
It is the moment every economics correspondent dreads during a big sporting event such as the Euros, World Cup or Olympics.They are always asked, when a home nation or Team GB is doing well: “how much could this be worth to the economy?” This is usually the cue to come up with several hundred words …
Business
Sky News
FTSE 100 slips below 7,000-mark as economic jitters spark global sell-off
Global stock markets have plunged on a cocktail of concerns about the global economy and anxiety over how central banks are responding to inflation.London’s FTSE 100 Index fell by 170 points, or more than 2%, at one stage as the sell-off wiped away any overnight cheer brought about by England’s Euros victory against Denmark. That …
Business
Evening Standard
London booms as a home for tech start-ups, report shows
London tech startups have raised £7.9bn in venture capital funding in the first half of the year, according to a new report on startups around the world.Figures from the European Startups report show that venture capital raised in the first six months of this year was more than double that raised by the same point …
Business
Sky News
Quarantine ditched for fully vaccinated adults and all children returning from amber list nations from 19 July
Fully vaccinated adults and all children will no longer have to quarantine on their return from amber list countries from 19 July, Grant Shapps has confirmed.Making a statement on international travel in the Commons, the transport secretary said those who have received two jabs and those aged under 18 will no longer have to self-isolate …
Business
Evening Standard
Government must rein in its instinct for instant audit reforms
IF you thought the business world was engulfed in one financial scandal after another, you ain’t seen nothing yet.Greensill-type farragos are most commonly exposed when money gets tight and flaky, or plain dishonest accounting is revealed.So, you’d think now was the very best time for the Government to impose tough reforms on the auditing of …

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