Corporate Panic Buying, U.K. Recovery, Bourbon Spared: Eco Day

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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up
  • The U.K. will lead the economic recovery among major European nations with its fastest growth in almost half a century, before sliding to the bottom of the pack by 2023
  • U.S. President Joe Biden’s administration is set to announce it’s reached a truce in a dispute with the European Union over metal tariffs, sparing iconic products such as U.S. bourbon whiskey from a doubling of EU duties next month, people familiar with the matter said. Meanwhile, British officials aren’t convinced by Biden’s plan for a global minimum business tax rate of 21%
  • China’s economic recovery was a mixed bag in April, with industrial output and investment buoyed by strong exports and a hot property market, while retail sales missed forecasts
  • Fourteen months after coronavirus confined office workers to their homes, companies are figuring how to get their teams back together, in-person, at least some of the time. They may need to consider full-office makeovers
  • Brussels should stop “point-scoring” and work with the U.K. to implement the Brexit trade deal, according to the British minister in charge of relations with the European Union
  • The gap between London house prices and those in northern England is at its narrowest since 2013 as a pandemic-induced “race for space” sends buyers in search of bargains. Meanwhile, Dublin’s bulk home sales are spurring a backlash against big-money buyers
  • As Britain’s restaurants and bars prepare to resume indoor service today, many are struggling to find enough staff
  • The prevailing scenario for the U.S. recovery has focused on a looming boom, but it may turn out to be a bumpier rebound. White House advisers detect a growing political challenge from the spike in inflation
  • Bond markets are famous for pushing their agenda, and in eastern Europe right now, they’re pushing for interest-rate increases
  • The world’s worst coronavirus outbreak is set to stretch the already strained budgets of Indian states, making it more costly to borrow

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