Economic News
New Covid-19 strain may be deadlier, PM says
The Prime Minister said there was "some" evidence that the strain of Covid-19 first detected in the UK may be more lethal as well as more easily transmitted.
Heathrow workers to strike in February over fire and rehire dispute
Unite members working at Heathrow Airport will undertake renewed strike action in February in response to the increasingly “bitter” dispute with the company.
US existing home sales jump forecasts in December
Sales of second-hand homes in the States sped past forecasts at the end of 2020, taking the full-year increase to its highest level since before the Great Financial Crisis.
US business activity jumps at the start of 2021, IHS Markit says
Business activity in the US jumped at the start of 2021 amid hopes that Covid-19 vaccines would put an end to the pandemic and in anticipation of the new administration's policies, the results of two surveys showed.
Elon Musk to donate $100m to carbon capture technology
Elon Musk said on Thursday on Twitter that he will pledge $100m towards the development of carbon capture technology.
Retail sales suffer worst decline in 2020 since records began
Retail sales suffered their biggest ever year-on-year fall in 2020 as the Covid-19 pandemic took its toll, according to figures released on Friday by the Office for National Statistics.
UK business activity dented by third lockdown
Business activity tumbled in January as the third lockdown took its toll, putting the UK on course for a double-dip recession, according to a survey released on Friday.
Eurozone heads for double dip as business activity drops - PMI
Eurozone business activity fell faster in January as companies were affected by the Covid-19 crisis and tightening restrictions, a survey showed.
UK's £34.1bn December borrowing exceeds forecasts
The UK borrowed £34. 1bn in December, exceeding forecasts and recording the highest level for that month on record as Covid-19 forced the government to issue more debt, official figures showed.
Eli Lilly treatment cuts Covid-19 risk by 80% in nursing homes
An antibody therapy developed by Eli Lilly reduced the risk of Covid-19 symptoms among residents of nursing homes by as much as four-fifths, a study showed.