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Inflation concerns return to focus

The latest information on the economic impact of coronavirus

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the latest news

  • Cuba seeks World Health Organization approval for three homemade Covid-19 vaccines when starting injections into infants (Reuters)

  • Inflation in Canada reached 4.1% in August, the highest level since March 2003 (Bloomberg).

  • Governor of California Gavin Newsom defeats efforts to kick him out In the office about his handling of pandemics

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Official numbers this morning show unexpected Britain’s surge in inflation Up to 3.2% in August, the highest level since 2012, is the latest evidence for those who believe we are at stake in a new era of inflation.

The Bank of England, like its EU and US counterparts, has always argued that inflation growth in the coming months is temporary, but why prices have risen so rapidly, and You need to explain to the government what you are trying to do. that.Especially poor households are facing a harsh winter Significant rise in energy prices At the same time as the end of the temporary increase in Universal Credit, the UK’s main benefit package.

The unexpected surge in UK inflation contrasts with yesterday’s US data. Inflationary pressure relief Thanks to the decline in key indicators such as used car prices. This weakened the prospect of an early rate hike from the US Federal Reserve Board.

One of the key indicators for policy makers working on rising inflation is the state of the labor market. The Bank of England will monitor signs that companies will raise prices to pay higher wages as the job market heats up.Data released yesterday showed UK vacancies Taken over 1m first time.

Investors around the world are still vigilant.A Bank of America survey released yesterday on the outlook for global economic growth showed that inflation fears were equal. A greater source of pessimism Than the epidemic of delta mutants of coronavirus.

Read the explanation of economics editor Chris Giles Five major problems facing the Bank of England

World economy

The United Nations warns: Developing country Their wealthier companions are at risk of being left behind as they focus on the “postcovid” world while they are still struggling to get the vaccines they need.Today’s report from the United Nations Conference on Trade and Development states that developing countries $ 12 trillion poor by 2025 Based on the 2017-19 growth trajectory, it was more than it would have been without a pandemic. According to another report from the OECD, the GDP of the wealthiest countries in the world is Decelerate to 0.4% In the second quarter of 2021, it decreased from 0.9% in the first quarter.

However, there was some news from the President of the European Commission that encouraged the poorer countries. Ursula von de Araien, EU Double vaccine sharing With low and middle income countries. The Commission has also invested € 50 billion in a new vaccine institution called the Health Emergency Preparedness and Response Authority (HERA) to prepare for a future pandemic.

Fresh data China’s economic recovery It’s late. August retail sales increased 2.5%, well below expectations, but industrial production also failed to meet its targets, rising 5.3%. NS Various factors Growth has been accused of slowing, including recent floods, regulatory interventions, new coronavirus infections, and a slowdown in real estate.

jobs

Inditex, The world’s largest clothing retailer and best known under the Zara brand, A strong bounce from the pandemic.. The company was hit hard by the forced closure of stores, but strong online performance pushed quarterly sales, profits, and cash generation figures above pre-crisis levels.rival H & M Also reported sales Pre-pandemic level In America and Europe.

One of the losers due to an increase in telecommuting and a consequent decrease in commuters — London Transport Director — Is a $ 40 billion global “on the go” Advertising market..Spending on billboards and travel hubs is set below pre-pandemic levels At least until 2023..

our Work and career The team ran the rule Return to work plan In some of the largest companies in the world. What are the main findings? Technology companies: Remote and flexible. Financial Services Company: Office-centric and more rigorous. Everyone else: Hybrid.

market

London broker Peel huntThe announcement, which will be released later this month and will expand to Europe, Stock trading and trading boom During a pandemic. Supporting industries such as lawyers, accountants and investment banks all report strong results during the crisis.

Share with Casino operator The government of Macau, the territory of China and the largest gambling hub in the world, Strengthen industry scrutiny I’m already suffering from a margin that has been squeezed by the pandemic. The 20-year concession of the Macau-operated casino group will expire next year.

Necessities

Britain has decided to follow and offer other wealthy countries Booster vaccine shot..Read us explainer Why you need them. NS FT Editorial Board The government welcomed a move to avoid another winter blockade, including offerings Vaccine for 12 to 15 years old..

Graph showing that most booster shots in the UK are scheduled for October and November, assuming a 6-month interval between the second dose and the booster.

Please give us your opinion

Lalachi comment We are creeping towards a continuous working week:

Working from home for Covid is the worst thing that has ever happened to my work-life balance. The time I spent listening to music and reading while commuting is now spent replying to emails, not for myself. No more 30-minute breaks to have lunch or coffee with a colleague. People these days apologize for taking two hours to reply to an email and 30 minutes to reply to an IM. More colleagues and clients are working on vacation. The pandemic is expected to have a business impact, so this is also the pressure to suck it up and work late.

Also, the day was over when the superlatives had to run to catch the train to the suburbs. Now they can execute commands from 5am to late at night without holding their breath. Never step outside the palace house at all.

Final idea

If you are looking for a good reading, immerse yourself in our guide this year Booker Prize.. Read the thoughts of deputy editor Laura Battle in yesterday’s list of candidates and browse the list of reviews collected. The main focus of this year’s judges is on novelists who record “greater power than you.”

Booker Prize Candidate List Book
List of 6 Powerful Booker Prize Candidates of the Year

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Inflation concerns return to focus

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