Finance

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.

Signs continue to emerge that the United States’ economy is past the worst of the coronavirus pandemic economic downturn, as official figures for August show the unemployment rate fell considerably, and nonfarm payroll employment also rose.

Thanks in no small part to a change in the United Kingdom’s Stamp Duty Land Tax (SDLT) rules, the last two months have represented something of a rebound for the UK’s housing market, as house prices saw positive growth for the first time since the country went into lockdown in March.

The pandemic has left its mark on all sectors of every economy, including real estate. Prime London property hasn’t been spared, although the reality of buyers’ hoped-for price drops may not be as dramatic as sales data indicates, with shortages of some sought-after residential properties shoring up values. Camilla Dell of the buying agency Black Brick shares her experiences from representing buyers of London properties in the midst of COVID-19.

Instead of prodding countries together to fight a common enemy, the pandemic has in many cases driven nations apart, leading them to insulate themselves from others, thereby threatening years of progress in forging trade partnerships. COVID-19 has exposed many of the inherent weaknesses in the current trade system but also made a strong case for strengthening global connectivity through advances such as digitalization so that all countries can prosper side-by-side.

Often there is a silver lining in the worst situation, even the COVID-19 crisis. Some investments will take a hit, but others will thrive, possibly including green finance. Policymakers and investors, who had been focused on climate-change action, seemingly dropped the green ball when COVID-19 bore down on society like a massive tidal wave. But there are indications that green bonds will emerge on the sunny side of the pandemic.

Mortgage financing has long been a staple of traditional banks, but in the United States, during the decade following the 2007-08 global financial crisis, many banks retreated from this once-lucrative business. What are some of the factors that have made servicing mortgages more onerous and less attractive to banks, and what can be done to rectify the situation—for the benefit of banks, mortgagors and mortgage market as a whole?