UK borrowing hits highest November level

UK government borrowing soared in November as the UK continued to support the economy during the coronavirus pandemic.   The Office for National Statistics said borrowing hit £31.6bn last month, the highest November figure on record.   It was also the third-highest figure in any month since records began in 1993.   The figures highlight […]

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US Congress passes coronavirus aid package

The US Congress has passed a long-awaited $900bn package of coronavirus pandemic aid after months of political wrangling.   Senators approved the bill late on Monday, hours after it was passed by the House of Representatives.   The aid includes direct payments for many Americans and support for businesses and unemployment programmes.   The money […]

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UK and US in talks over mini trade deal

The outgoing US administration is in talks with the UK to try to seal a mini-deal to reduce trade tariffs, Donald Trump’s trade chief has said.   US Trade Representative Robert Lighthizer told the BBC he was hopeful for a deal that could see punitive tariffs on Scottish whisky lowered.   The UK recently said […]

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Federal Reserve delivers brighter forecast

Prospects for the US economy have brightened since September, despite a recent surge in coronavirus cases, America’s central bank said on Wednesday.   Federal Reserve officials said they expected growth of roughly 4.2% next year, better than previously forecast.   They forecast a fall in the unemployment rate from 6.7% to 5%.   The update […]

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UK and Singapore sign free trade agreement

Singapore and the UK signed a free trade deal in the Southeast Asian city-state on Thursday.   The deal will cover a trade relationship worth more than $22bn.   The agreement largely mirrors an existing deal between Singapore and the European Union.   It is part of a broader set of trade negotiations for the […]

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UK growth slows in October

The UK economy grew by just 0.4% in October as the recovery continued to slow in the face of tougher coronavirus restrictions.   The economy remains well below the size it was before the crisis, the Office for National Statistics (ONS) said.   The UK has been recovering from a record slump earlier this year induced […]

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US job growth slows as virus cases surge

Hiring in the US slowed sharply last month as the country grappled with a surge in coronavirus cases.   Employers added just 245,000 jobs in November, the Labor Department said, below many economists’ expectations.   The jobless rate dropped to 6.7% from 6.9% a month earlier, partially because many people stopped looking for work.   […]

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Japan announces new stimulus for economy

Japan’s Prime Minister, Yoshihide Suga, has announced a fresh round of stimulus for the Japanese economy.   The 73.6tr yen ($708bn) package is expected to include subsidies for green investment and spending on digitalisation.   The additional spending is aimed at pulling the country out of its coronavirus-induced economic slump.   Japan’s economy has started […]

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