US Stimulus Negotiations Restart as Relief Measures End

Treasury Secretary Steven Mnuchin said in a statement to the Senate Banking Committee on Thursday that the Trump administration and Democratic leaders are set to revive negotiations on a coronavirus relief bill. “I’ve probably spoken to Speaker Pelosi 15 or 20 times in the last few days on the CR, and we’ve agreed to continue […]

UK Borrowing and Public Debt Soared in August

New data released by the Office for National Statistics (ONS) showed that HM Treasury borrowed £35.9 billion in August – the highest for any August month and the third-highest monthly amount since records began in 1993. The figure represents a £30.5 billion increase from August 2019, owing to the UK government’s efforts to fund its […]

Emergency Jobs Scheme Announced in UK’s Winter Economy Plan

On Wednesday, Chancellor Rishi Sunak announced a raft of new emergency measures to curb unemployment during the ongoing COVID-19 pandemic. As part of the new measures, which Sunak described as part of a wider “winter economy plan”, the UK government will introduce a Jobs Support Scheme beginning 1 November to replace the existing furlough scheme. […]

Pound Falls to Two-Month Low on Lockdown Anxiety

The Sterling pound fell against the US dollar on Wednesday as the UK anticipates a “second wave” of coronavirus cases and the possibility of new lockdown measures dampening economic growth. The pound fell by as much as 0.4% to $1.26 in early trading and remains unsteady. The new ratio represents a two-month low for the […]

Tesla Stock Loses $50 Billion After “Battery Day” Show

Shares in Tesla Inc. fell by 7% on Tuesday in the wake of CEO Elon Musk’s promises of a radically cheaper new electric car battery for self-driving Tesla vehicles – which is not likely to arrive for three years. During a presentation on Tuesday, which Musk had touted as “Battery Day”, Musk and other Tesla […]

Oil Prices Plunge on Fears of Slowing Demand

Oil prices fell sharply during Monday trading after a steady decline that has now continued for two weeks, owing in large part to investor fears of further lockdown measures in response to a surge in the spread of COVID-19. Come morning trading on Tuesday, it became apparent that oil was holding its losses. Crude hit […]

Understanding the Changing US Liquidity Landscape

Tom Meiman, Product Line Manager for Liquidity Balances and Demand Deposit Account Services, BNY Mellon Treasury Services, and Sam Schwartzman, Head of the IMG Cash Solutions Group, BNY Mellon Markets, explore how businesses can successfully traverse the changing liquidity landscape and achieve their cash management goals in this turbulent environment. For over ten years, treasurers […]

Bank of England Looks at Negative Interest Rates

On Thursday, the Bank of England’s Monetary Policy Committee (MPC) left interest rates at 0.1%, their lowest level in history, and maintained an outlook for the UK that was relatively unchanged from its August meeting. However, analysts were intrigued by particular lines in the MPC meeting minutes which showed that the bank was looking more […]

US Fed’s Policy Statement Drives Down Stocks

US stock markets ended mostly lower on Wednesday following the release of a policy statement from the US Federal Reserve, with futures pointing towards a stock sell-off on Thursday. The Fed announced that US interest rates would remain between 0% and 0.25% and indicated that they would likely remain that way until 2023 at the […]

Five Financial Challenges Holding SMEs Back During COVID-19

Annie Button offers advice on how smaller companies can remain solvent during a uniquely tough period for business. The COVID-19 pandemic has been a difficult time for businesses of all sizes – but it may well be the case that small companies have suffered the most. Of course, issues such as fewer people spending money […]

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