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U.K. Deficit, Post-Brexit Trade Deal, Turkey Surprise: Eco Day
U.K. Deficit, Post-Brexit Trade Deal, Turkey Surprise: Eco Day
25 Sep 2020, 04:03 PM IST
(Bloomberg) -- Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.
(Bloomberg) -- Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.
- U.K. government borrowing soared to 173.7 billion pounds ($222 billion) in the first five months of the fiscal year as the costs of coronavirus pandemic continued to mount
- U.K. Chancellor Rishi Sunak’s latest salvo against the economic chaos of the coronavirus marks a shift in tactics that risks making a painful spike in unemployment inevitable
- Sales of U.K. homes costing over 1 million pounds doubled last month, outperforming the rest of the market as wealthier buyers sought more space following the Covid-19 lockdown
- Londoners are looking for jobs outside the capital as the city struggles to generate new work after the coronavirus slump
European Union negotiators have agreed not to allow their opposition to Boris Johnson’s plan to break international law distract them from trying to secure a deal over the bloc’s relationship with the U.K. after Brexit
- Anxiety is kicking in for European executives as time -- and trust -- run short for a trade agreement between the U.K. and EU
- Russia’s Finance Ministry still hopes to sell a euro-denominated bond before the end of the year, despite a recent surge in market volatility that it expects to continue in the fourth quarter
- Zambia’s finance minister will have to assure creditors he’s got a plan for the country’s debt and convince the International Monetary Fund the government merits a bailout when he presents his annual budget on Friday
- The market will need to wait another day to know if Turkey’s surprise interest-rate increase will achieve the intended effect
- Democratic presidential nominee Joe Biden’s search for a Treasury secretary is widely seen as focusing on Lael Brainard of the Fed, a choice that would keep both Wall Street and progressives in line
- JPMorgan Chase & Co. joined Goldman Sachs Group Inc. economists in dropping forecasts for U.S. economic growth in coming months after the failure so far of Republicans and Democrats to seal a fiscal-stimulus deal
- Mexico’s central bank cut its key interest rate by a quarter point, the least since February, in a sign the current monetary easing cycle is nearing its end after inflation sped past its target
- China’s recovery is on, with growth poised to accelerate into 2021, writes Chang Shu
- India’s economy showed signs of stabilizing in August. Meanwhile, the Reserve Bank of India will again have a tough choice at Friday’s bond sale: Whether to ask underwriters to rescue the sale or allow higher yields
- South Korea’s trade minister Yoo Myung-hee, who’s vying to lead the WTO, wants the organization “revitalized” so the U.S. and China can turn to the body to settle their bruising trade disputes
- Australia will loosen responsible lending laws in a bid to boost the flow of credit and revive the economy from recession
- House Democrats have started drafting a stimulus proposal of roughly $2.4 trillion
- The world will officially record 1 million deaths from Covid-19 in the next few days, but the real tally might be almost double that number
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