Global Doom Loop, Europe Savings, U.K. Aid Falls Short: Eco Day

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Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • Europe’s latest lockdowns are presenting citizens with even more hurdles to spending money, swelling savings that stand ready to fuel a recovery once vaccines tame the pandemic
  • U.K. businesses groups said the 4.6 billion pounds ($6.2 billion) of emergency aid that Chancellor of the Exchequer Rishi Sunak offered to cope with lockdowns is short of what’s needed to keep many companies out of financial disaster
  • The world economy will exit the pandemic weighed down by much bigger debts and increased inequality that could hobble growth in the longer term
  • The rebound from the deepest recession since World War II will be slightly slower this year than previously expected amid a resurgence in virus cases across advanced economies, the World Bank said
  • CEOs of the biggest U.K. companies will have made more in compensation by the end of the workday Wednesday than the median worker will earn for all of 2021, a study found.
  • U.K. businesses were suffering even before the latest lockdown, leaving many in a precarious position as they enter new restrictions with what many say is insufficient government support, a survey showed
  • A measure of U.S. manufacturing expanded in December at the fastest pace in more than two years, bolstered by a pickup in new orders and the strongest growth in production since 2011
  • Wang Wentao has the investor-friendly background that one might expect from China’s next commerce minister, but it’s political credentials that might be key to his success amid increasing hostility with the U.S.
  • Afghanistan’s inability to confirm a full-time central bank governor for more than a year is adding to economic woes brought on by the pandemic and a surge in Taliban violence

©2021 Bloomberg L.P.

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