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U.K. Pensions, U.S. Jobs Market, India-China Conflict: Eco Day

U.K. Pensions, U.S. Jobs Market, India-China Conflict: Eco Day

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

  • The U.K. state pension may grow considerably faster than earnings over the next two years, a think tank estimates, increasing generational inequalities
  • The U.S. labor market improvement looks to be slowing, and Federal Reserve research shows the jobs hit is four times worse for the lower-paid
  • The Bank of Japan is likely to slash its economic forecasts amid the crisis while Tokyo’s near-zero inflation shows consumers are slow to return even after the city’s emergency has ended
  • However much Prime Minister Boris Johnson says he will be able to arrange a trade deal with the European Union by the year-end, firms in Britain are already bracing themselves for the possibility he won’t
  • Summer heat saw crowds of daytrippers descend on U.K. coastal resorts, stirring virus concerns and prompting the health secretary to warn he could close beaches
  • India mulling higher tariffs on China would add further negatives to both economies amid a broader geopolitical tussle, Bloomberg Economics analysis shows. In the mean time, India’s border stand-off with China may disrupt the supply chains of U.S. companies based in the south Asian nation
  • Women in India who already face a wide gender gap in employment, wages, and education have been financially hurt disproportionately amid the virus crisis

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