Budget 2021- Sunak’s support for Covid-19 totals £407bn

“Coronavirus has caused the largest and most sustained economic shocks in this country has ever faced,” Sunak said Furlough scheme extended until the end of September along with VAT cut for hardest-hit sectors to boost the hospitality and tourism industries over the summer. The government will maintain its support for the self-employed, with grants handed…

UK cruise ships scarpped in the world’s largest ship graveyard

When Maritime voyages went into administration the liquidators in a distress sale without any concerns about the environmental impact, in search of recovery sold at auction Two British cruise ships the Marco Polo, the Magellan and three other cruise ship which were impounded and sold to settle the debts in November 2020. The Marco Polo…

GameStop rage as surname goes viral, seen 40 million times

Fancy having a surname Hedges-Stocks who had been inadvertently seen 40 million times on Twitter. Zoe has been inundated with thousands of requests for financial advice and trading tips after people misinterpreted her surname. Zoah Hedges-Stocks, a 31-year-old writer from Leiston, Suffolk, stated on Twitter hers was “ not a finance account” and did “not…

How to Make Britain Great again

Respected financial journalist Alex Brummer and Brexit supporter was offering an argument for optimism in his must read book The Great British Reboot, and offers a manifesto for how to re-engineer the UK economy. Brummer’s  prescriptions align with Prime Minister Boris Johnson’s political prospectus, despite the gap between strategy and implementation remains wide apart. His analysis of…

UK Government record borrwing in November

The UK government continued to support the economy during the pandemic by borrowing soared in November hitting £31.6bn the highest level on record according to the office for National Statistics and the third-highest figure in any month since records began in 1993. The Independent Office for Budget Responsibility has estimated that the amount of borrowing…

Sterling and FTSE fall as European borders close to the UK

The FTSE 100 fell 3 percent before recovering slightly, while the main German and French markets were nearly  3 per cent lower. Sterling fell 0.9 per cent against the Euro and dropped 1.6 per cent against the dollar. Travel restrictions hit airline stocks, with IAG, the British Airways owner down 8.6 per cent, EasyJet tumbling…

Resistance to abolition of slavlery

The English Heritage unveiled blue plaque on the wall of Schomberg House on Pall Mall, London to commemorate the residence of Quobna Ottonah Cugoano, the author and campaigner in 1787 wrote one of the first exposes by an African of slave trading, criticising continued tolerance of horrors of the slave trade by the British Government…

The logic of capitalism

A highly provocative book by an Indian academic who is the Associate Professor of Modern South Asian Studies at the University of  Copenhagen, revealing how India is being repackaged into a national brand  to be sold to foreign investors, part of ongoing historical shift. “The capitalist transformation of India wherein the logic of capital is…

UK economy grows by  15.5 per cent

The UK’s economy bounced back from recession in July to September, but growth showed signs of slowing down at the end of three months. Growth of 15.5 per cent from July to September after a six-month slump induced by the first coronavirus lockdown was the biggest on record according to the Office for National Statistics…

Global Stock Market rocket on vaccine hopes

  Stock Markets have rocketed on the hopes of potential breakthrough in the search for a vaccine against Covid-19. Drugs firm Pfizer’s own shares climbed 9 per cent after it had that preliminary analysis indicated that its coronavirus vaccine was 90 per cent effective. The owner of British Airways, International Airlines Group (IAG) rose 40…