ECONOMIC NEWS

Public Borrowing In The UK Overshoots Forecasts For August

Excluding state-controlled banks, public sector net borrowing in August reached £20.5 billion, down from $5.5 billion from August a year earlier. On average, economists polled by Reuters had forecast borrowing of £15.6 for the month.  Last year, government borrowing in the UK soared due to heavy spending throughout the peak of the pandemic, reaching its […]

What Are The Financial Benefits of Going Paperless?

The benefits of this change are many including time-saving. If your business is a little behind on typing and printing the records or filling out forms manually then it could take a lot of time whereas, by going digital, you can easily save this time. Along with this, there are several economic benefits of going paperless […]

Wall Street Stocks Slump As US Unemployment Claims Rise

There were 332,000 new initial claims for unemployment support in the week to 11 September, according to the US Labour Department. This figure is up from 312,000 in the previous seven days. Economists had been expecting 320,000 claims, accounting for a delay in filings following Hurricane Ida. However, the four-week moving average was the lowest […]

How Does Fintech Expand Business Owners’ Financing Options?

The problem is, it can be quite hard for small businesses to get external funds since most traditional lenders are reluctant to invest in them. Because, unlike large companies, they don’t have the equity and resources to compete in the market. But thanks to the emergence of fintech or financial technology in the last decade. […]

Bitcoin Crashes On First Day As Legal Tender In El Salvador

On Tuesday, the price of bitcoin crashed to its lowest in almost a month. The cryptocurrency fell from $52,000 to under $43,0000 at one point. An opposition politician accused the fall of causing El Salvador, one of Latin America’s poorest countries, to lose $3 million.  Major platforms such as Huawei and Apple weren’t offering the […]

GDP Growth Slows Dramatically Due To Shortages

The Office for National Statistics (ONS) said that gross domestic product (GDP) increased by just 0.1% in July, a significant slowdown from the 1% growth seen the month before. Many companies have faced problems with the pingdemic and shortages of materials. The construction sector has been hit especially hard with output dropping 1.6% in July. […]

Businesses Must Operate Cautiously In “New Normal”

Following the recently published PMI results, Chris Laws, supply chain specialist and Vice President of Product, Strategy, and GTM at Dun & Bradstreet, explains why businesses should remain only cautiously optimistic about the findings. Cast your mind back a matter of weeks, and ‘Freedom Day’ had been earmarked as the day that normality would resume […]

UK Services Sector Growth Slowed By Supply Chain Crisis

According to IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI), a lack of raw materials and available UK workers has caused August’s reading to drop to 55.0, notably lower than the 59.6 recorded in July. However, the PMI marked a fifth month exceeding the 50 threshold. Any recording over 50 indicates growth.  In a comment, […]

27% Of UK’s Full-time Workers Wages Diminished By Pandemic

NerdWallet’s survey of over 900 UK adults in full-time work has revealed their concerns regarding how the pandemic and rising inflation are impacting their finances. The survey found:  Since the start of the pandemic, 27% of full-time workers have seen their salaries decrease  32% of participants said they are limiting their spending because they are […]

The Rising Potential of Alt-Data Collection Within ESG

Factset estimates that around 70% of global investment companies are still exploring how to best deploy and understand the growing opportunity presented by ESG alt-data. A Vanson Bourne survey also revealed organisations that incorporate ESG alt-data into their business strategies found that an average of 76% (USA) and 67% (UK) of their investment decisions are […]

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