Finance

By now, it is clear that the global coronavirus pandemic and the government-mandated lockdowns that have resulted have had an unprecedented impact on the global economy. But perhaps what has not been sufficiently illuminated to date is just how critical the situation has become for those groups most at risk from this downturn.

Middlemen. They have long played an important role in the sustained functioning and revenue-generating ability of the global finance industry. By operating as a crucial link between the providers of capital and the end-users of capital, these intermediaries have been pivotal in enabling financial and monetary systems to operate effectively.

The last decade or so has seen concerns grow significantly over the long-term health of the dollar. Those concerns have only grown in urgency since the coronavirus arrived on the shores of the United States in February, triggering a nationwide shutdown of the world’s biggest economy.

Although coronavirus restrictions have continued to be lifted, unemployment in the United Kingdom in the three months to July still increased, official data published on Tuesday, September 15, showed. According to the Office for National Statistics (ONS), the unemployment rate was estimated at 4.1 percent

The United Kingdom’s annual inflation rate fell sharply in August to its lowest level in almost five years, as the government’s Eat Out to Help Out discount-meal scheme contributed significantly towards driving down the cost of living. Figures released by the Office for National Statistics (ONS) on Wednesday, September 16,

Those who look ahead, get ahead. Today, banks that are searching for the next growth opportunity may find it in the up-and-coming virtual economy. This economy is as confusing as it is varied, so banks need to build institutional understanding before plunging into the virtual asset market. Like any new frontier, this one carries risks, but the potential rewards are vast—and the opportunity to start building a leadership position is now.

According to figures released on Friday, September 11, by the Office for National Statistics (ONS), the United Kingdom’s gross domestic product (GDP) expanded by 6.6 percent during July, as lockdown measures in the country continued to ease and the economy showed clearer signs of recovery.

The United States Initial Jobless Claims report, which measures the number of individuals who filed for unemployment insurance for the first time during the past week, was released on Thursday, September 3, and showed a sharp decline from the previous week.

To date, there have been several significant landmarks that have been achieved by cryptocurrency during its decade-long evolution into a legitimate asset class. US SEC (Securities and Exchange Commission) regulation, token sales and coin offerings, derivatives-market maturation and development of government and central-bank digital currencies

The COVID-19 pandemic has placed immense stress on businesses of all sizes and all sectors across every part of the UK. The rapid response by government and industry has helped companies survive the initial economic impact, but looking ahead, it is clear that many businesses – particularly SMEs – will need help to tackle a debt burden that could hold them back or drag them under. To avert this crisis, an urgent and coordinated effort on the part of government and industry is a must. TheCityUK, supported by EY and over 200 financial experts from 50 firms across the financial and related professional services industry, developed a strategy that if implemented, may provide the lifeline that SMEs urgently require.