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A critical look at the news in the UK.

CoVid19 – Can Britain avert the coming catastrophe

5 Apr 2020, 12:00 am | TruePublica

By TruePublica Editor: The Boris Johnson government have clearly demonstrated they are not the people to run the country in a crisis. Their refusal to partake in an EU procurement programme for desperately needed life-saving medical equipment is a last-gasp expression of their tribalism in a situation which demanded so much more. It shone a […]

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Business survey: Britain heading for slump deeper than 1930s depression

3 Apr 2020, 11:51 am | TruePublica

Britain’s economy looks set for a slump that in the short term could be deeper than during the depression of the 1930s, as a survey showed the coronavirus crisis caused a record downturn among services and manufacturing firms in March The composite Purchasing Managers’ Index covering the two sectors fell to 36.0 from 53.0 in […]

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New forecast showing U.S. economy may crash as much as 38%

3 Apr 2020, 11:45 am | TruePublica

Morgan Stanley lowered its U.S. economic forecasts, saying social distancing measures and closures of nonessential businesses have spread to an increasing number of states. The Wall Street firm lowered its first-quarter gross domestic product forecast to -3.4% from -2.4% and its second-quarter GDP forecast to -38% from -30% “We expect the U.S. economic recovery will […]

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China slices amount of cash its banks hold as reserves

3 Apr 2020, 11:39 am | TruePublica

BEIJING: China’s central bank said on Friday it was cutting the amount of cash that small and mid-sized banks must hold as reserves, releasing around 400 billion yuan ($56.38 billion) in liquidity to shore up the economy, which has been badly jolted by the coronavirus crisis. The latest stimulus move comes as the world’s second-largest […]

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Euro-Area Economy Shrinking 10% With Worse Still to Come

3 Apr 2020, 11:31 am | TruePublica

The euro-area economy is in a slump of unprecedented scale, and the contraction may deepen even further as lockdowns to contain the coronavirus are extended. IHS Markit said its monthly measure of services and manufacturing points to an annualized economic contraction of about 10%. With new business, confidence and employment all down, there is “worse […]

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CoVid-19 cost estimate so far $4trillion

3 Apr 2020, 11:26 am | TruePublica

The cost of the coronavirus pandemic could be as high as $4.1 trillion – or almost 5 per cent of global gross domestic product – depending on the disease’s spread through Europe, the US and other major economies. Developing Asia, including China, accounts for as much as 36 per cent of the pandemic’s total cost […]

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Politics aside, US relies on China supplies to fight virus

3 Apr 2020, 11:18 am | TruePublica

US politicians have voiced fury over Beijing’s handling of the coronavirus crisis but they face a harsh truth — the United States desperately needs China’s supplies. China before the crisis produced nearly half of the face masks imported into the United States — which in normal times cost less than a dollar but have disappeared […]

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CoVid-19 and Britain’s tax trap

3 Apr 2020, 11:11 am | TruePublica

No one knows how or when the coronavirus outbreak will end, but one thing is already certain: The economic consequences — as well as the social impact — will be huge. Ian Mulheirn, a former Treasury official and chief economist at former Prime Minister Tony Blair’s Institute For Global Change think tank, said governments were […]

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Johnson gov’t losing the Covid battle on the frontlines and headlines

3 Apr 2020, 12:00 am | TruePublica

When the Daily Mail finally admits the government it helped foist into power is nothing more than a veneer of populist slogans – you know as a government, you’ve been unveiled as a worthless profligate band of spurious frauds. The Boris Johnson government has been tested in a crisis and emphatically failed the nation in […]

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Nearly half of companies now looking to automate their businesses post Covid-19

3 Apr 2020, 12:00 am | TruePublica

Nearly half of company chiefs in 45 countries are looking to accelerate the automation of their businesses as employees are forced to stay at home during the Covid-19 outbreak. A survey by services giant EY has found that 41% of businesses were speeding up plans to implement new technologies and replace jobs held by employees […]

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