UK’s economic recovery from Covid-19 crisis continues | Business

Britain’s recovery from the coronavirus pandemic continued for a third month in a row in July as shops reopened and manufacturing activity resumed but the economy has recovered little more than half the ground lost since the onset of the crisis.

The Office for National Statistics (ONS) said gross domestic product (GDP) rose by 6.6% in July compared with the previous month, continuing a rebound from the Covid-19 crisis as lockdown measures were relaxed.

However, in a reflection of the fragile nature of Britain’s economic fightback as the number of coronavirus infections rises, Rishi Sunak laid the groundwork for a delay to the autumn budget in a statement to the House of Commons.

The chancellor told MPs he had asked the Office for Budget Responsibility (OBR) to prepare economic forecasts to be published in “mid to late November,” but did not give a date for the set-piece tax and spending

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Financing economic recovery – The Hindu

As the socioeconomic impacts of the pandemic spread across Asia and the Pacific, finance ministries are continuing their efforts to inject trillions of dollars for emergency health responses and fiscal packages. With continued lockdown measures and restricted borders, economic rebound seems uncertain. Compared to 2019’s economic situation, over the past six months, countries in Asia and the Pacific have been experiencing sharp drops in foreign exchange inflows due to declines in export earnings, remittances, tourism and FDI. This is worrying as policymakers are tackling difficult choices over how to prioritise development spending, while continuing to expand their squeezed fiscal space.

Financing in three key areas

The United Nations is contributing through a global initiative, Financing for Development in the Era of COVID-19 and Beyond, co-convened by Canada and Jamaica, to articulate a comprehensive financing strategy to safeguard the Sustainable Development Goals. Governments are united to ensure that adequate financial resources

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US Covid Economic Rebound Becomes More Fragile With Aid on the Brink

America’s economic rebound is about to get a lot tougher after an initial series of gains from the depths of the pandemic.

Applications for regular state unemployment benefits continue to number more than 800,000 each week and chances in Congress diminished for additional support for the jobless and businesses on Thursday. What’s more, funding for the temporary supplemental jobless benefit payments authorized by President Donald Trump in early August is running out.

Applications for jobless benefits continue to number in hundreds of thousands

With the help of fiscal stimulus — from aid for small businesses to an extra $600 a week in jobless benefits — the U.S. economy has rebounded faster than many economists expected. Sustaining a robust pace, however, could prove challenging given the elevated unemployment rate, absence of additional government support and persistent spread of the coronavirus.

The recovery right now is “fragile, and barring additional stimulus, the recovery will be more susceptible to downside risks,” said Gregory Daco,

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Discount retailer B&M to open up to 45 new stores as demand for bargains during tough economic times lift sales



a person standing in front of a store: MailOnline logo


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Discount retailer B&M is set to open more stores than expected this year after sales and profits jumped as it emerges as one of the winners of the coronavirus pandemic.

The company, which kept most of its stores open while many rivals shut them down during lockdown, benefited from rising demand for its value products and spacious stores, mostly located in out of town locations.

It said it expects to open between 40 and 45 new stores before the end of its financial year, with most of the openings scheduled in the fourth quarter.  



a store in a parking lot: B&M kept most of its stores open while many rivals shut them down during lockdown


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B&M kept most of its stores open while many rivals shut them down during lockdown

B&M, which was allowed to keep its stores open during lockdown as it also sells food and DIY products, said people are spending more per visit.

UK

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Economic views decline more amid COVID-19 than for Great Recession in many countries

In many countries, people are more negative about the economy amid COVID-19 than during Great Recession
Stock and commodity prices on the wall of the Australian Stock Exchange in Sydney as Prime Minister Scott Morrison speaks on Sept. 2, 2020. (Ryan Pierse/Getty Images)

Global attitudes about the state of the economy amid the coronavirus outbreak are more negative in some countries than they were during the Great Recession, according to Pew Research Center surveys conducted in 10 countries during both crises. But people are also more upbeat about the prospect of a rebound than they were after the financial meltdown more than a decade ago.

In April, the International Monetary Fund predicted the economic downturn resulting from the coronavirus outbreak would be far graver than the Great Recession. With global gross domestic product now expected to contract by 4.9% in 2020, the magnitude of this recession exceeds that of 11 years ago, when year-on-year global GDP growth contracted by 0.1%.

This analysis compares economic attitudes during

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Income inequality, and coronavirus’ economic fallout

Before the coronavirus pandemic struck, the Caldwell family of Kansas City was just making ends meet. Derrick was working as an electrician; Tiana was training office workers; and A.J. was looking forward to playing football after school.

CBS News business analyst Jill Schlesinger asked Derrick, “If you go back to end of February, beginning of March, were you busy? Was it slow? What was going on for you?”

“I was busy – and then it was just, like, everything just stopped,” he replied.

You might say COVID-19 infected the family’s finances. Their jobs dried up, exposing a stark reality: they had no safety net.

Tiana Caldwell said they had not been able to save money before the pandemic hit. “So, just paycheck to paycheck, right?” Schlesinger asked.

“Yeah,” Tiana said.

Even before the coronavirus, nearly 4 out of 10 American adults said they would have difficulty covering a $400 unexpected

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Hong Kong businesses step up M&A deals by latching on to China’s economic rebound



a man standing on top of a ramp: A staff member checks a pig's condition at a farm in Zhongjiang county in southwestern Sichuan province in November 2019. The Charoen Pokphand unit in Hong Kong is seeking to entrench itself in China with the biggest M&A deal this quarter. Photo: Xinhua


A staff member checks a pig’s condition at a farm in Zhongjiang county in southwestern Sichuan province in November 2019. The Charoen Pokphand unit in Hong Kong is seeking to entrench itself in China with the biggest M&A deal this quarter. Photo: Xinhua

Hong Kong-based businesses have stepped up their merger and acquisition (M&A) deals this quarter by latching on to economic recovery in mainland China, suggesting beaten-down asset prices could attract more investors ahead.

Deals involving Hong Kong companies have reached US$35.9 billion through September 25, according to data compiled by Refinitiv. They are 102 per cent higher than in the preceding quarter, when transactions slumped to a seven-year low.

The renewed appetite is a relief for bankers and brokers seeking to shore up their fees after a torrid first half when the Covid-19 pandemic and street protests combined to send the city’s economy into its worst recession on

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Global Polytrimethylene Terephthalate (PTT) Fiber Market Entry Strategies, Countermeasures of Economic Impact and Marketing Channels to 2026

The MarketWatch News Department was not involved in the creation of this content.

Sep 28, 2020 (The Expresswire) —
“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Global “Polytrimethylene Terephthalate (PTT) Fiber Market” report 2020 gives complete research on market size in the form of value, capacity, production and consumption in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions. Players, stakeholders, and other participants in the global Polytrimethylene Terephthalate (PTT) Fiber market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on Polytrimethylene Terephthalate (PTT) Fiber industry revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2015-2026.

Get Sample Copy of this Report at: https://www.industryresearch.co/enquiry/request-sample/16393421

This report classifies the global Polytrimethylene Terephthalate (PTT) Fiber industry breakdown information by

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‘Salaries to have more variable, profit-linked pay’



text: “Earlier people could do some work from nine to five and get paid but now measurable productivity is key,” he said.


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“Earlier people could do some work from nine to five and get paid but now measurable productivity is key,” he said.

An increasing number of companies are rejigging salary structures, across the board, to lower the fixed component and raise the performance-based variable component. In these uncertain times, organisations are looking to link salaries to the performance of both the individual and the business.

As Amit Vadera, AVP, TeamLease Services observed, the pandemic has accelerated the shift to linking pay with performance. “The variable part of the salary is becoming bigger with employees being judged on their KRAs and paid accordingly,” Vadera said.

Viswanath PS, CFO, Randstad India, pointed out that companies can no longer afford to pay the salaries they used to because the pandemic has disrupted earnings. He cited a March report from Deloitte which found that nearly a fourth of companies

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Opinion: Oregon’s economic and employment departments should be merged

Mark Hass

Hass, a Democrat, represents Senate District 14-Beaverton in the Oregon Legislature. He chairs the Senate Finance and Revenue Committee.

Years ago, after an icy road launched me and my 1980 Camaro into a guardrail, I contemplated the wreckage. I was told that with a new axle, new steering system, new paint and body work, it would be fine.

But the old car was worn out. The crash was the tipping point to scrap it.

This is how I’m looking at the wreckage of the Oregon Employment Department that left hundreds of thousands of Oregonians agitated and discouraged – people who lost their jobs and then discovered the agency charged with processing unemployment benefits is dreadfully dysfunctional.

For months, many pleaded for help, telling horror stories of spending all day on hold – if they could even get through.

As has been reported, the agency was given an $85

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