U.K. unemployment UK Economy 

U.K. Unemployment Rose Less Than Feared in December

The U.K. labor market stayed stronger than expected in December, with the number of benefit claimants rising only moderately. At the same time, wage growth in November, the last month for which data are available, grew more strongly than expected, rising 6.4% on the year, according to the Office for National Statistics. The figures add to last week’s GDP data in suggesting that the U.K. economy may have fared better at the end of the year than seemed likely only a couple of months earlier as the appointment of Rishi…

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Technical Analysis UK Economy 

GBP/USD Rallies Despite Ongoing Deadlock in Post-Brexit Talks

By Administrator_India Capital Sands   The pound continued its strength against the dollar on Thursday, shrugging off growing concerns that the U.K and EU are unlikely to find a breakthrough on the latest round of post-Brexit talks, which concludes on Friday. GBP/USD rose 0.71% to $1.3192. With the latest U.K.-EU trade talks set to end on Friday, there are few betting that both sides will be able to find common ground on key sticking issues including access to British fishing waters and the level playing field rules – a set of…

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UK is past the peak, says PM Johnson, promising lockdown exit plan UK Economy 

UK is past the peak, says PM Johnson, promising lockdown exit plan

By Ritu, Capital Sands Prime Minister Boris Johnson said on Thursday Britain was now past the peak of its coronavirus outbreak and promised to set out a plan next week on how the country might start gradually returning to normal life. In his first news conference since recovering from a serious case of COVID-19, Johnson sought to offer hope to weary Britons, but urged them to stick with lockdown restrictions that are hammering livelihoods and the economy. “I can confirm today that for the first time, we are past the…

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Business UK Economy 

UK economy could shrink by the most in 300 years in 2020

By Administrator_India Capital Sands Britain’s economy could shrink by 13% this year due to the government’s coronavirus shutdown, its deepest recession in three centuries, and public borrowing is set to surge to a post-World War Two high, the country’s budget forecasters said. In the April-June period alone, the economic output could plunge by 35%, with the unemployment rate more than doubling to 10%, the Office for Budget Responsibility said on Tuesday. A bounce-back may come later in the year if restrictions on public life to slow the spread of the…

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