Remove business austerity
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CBI boss warns Rishi Sunak against austerity ‘doom loop’– business live

TheGuardian

Live, rolling coverage of business, economics and financial markets as lobby group leader Tony Danker calls for pro-growth policies from new prime minister Good morning, and welcome to our live, rolling coverage of business, economics and financial markets. 9am BST: Germany Ifo business climate (October; previous: 84.3

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Retail Sales Crater In Hong Kong With Social Distancing, Travel Limitations

PYMNTS

The government noted in the release per the outlet, “The business environment of retail trade will remain extremely austere in the near term, as the COVID-19 pandemic has brought inbound tourism to a standstill and severely dented local consumption demand.” Retail sales fell 44 percent in the month to $2.93 percent.

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AML/KYC Fast-Tracked In Open Banking Boom

PYMNTS

In PYMNTS’ most recent Navigating the COVID-19 Pandemic series, based on surveys of thousands of consumers and businesses over the duration, nearly 34 percent of respondents said they are “very” or “extremely” likely to consider a firm’s digital offerings when deciding where to spend their money. ” Securing That Which Is ‘Open’.

Security 131
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Collections Predictions 2021: After the Debt Tsunami, the Flood

FICO

Bounce back loans and CBILS (Coronavirus Business Interruption Loan Scheme) are a good example – they are an issue for banks, and a big political issue. There’s a whole community of debt now swirling around, and sole traders will have to go to the government for relief to stay in business. Lower tax payments will bring more cuts.

Taxes 76
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The Covid-19 bill means the Treasury must live with high borrowing

TheGuardian

It can’t be paid back via austerity Coronavirus – latest updates See all our coronavirus coverage It was inevitable that borrowing would hit a peacetime record this year. The government has borrowed more in April than expected for the whole year. Not even the depths of the 2008 financial crisis come close.

Taxes 68
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OECD: UK economic recovery will lag behind all rivals bar Argentina

TheGuardian

Thinktank says Brexit represents double threat to UK growth The UK’s economic recovery from the coronavirus pandemic will lag behind every other major economy apart from Argentina, according to the Organisation for Economic Cooperation and Development.

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I made millions out of the last debt crisis. Now the wealthy stand to win again | Gary Stevenson

TheGuardian

He warned that markets could stop lending to some of these governments, forcing a devastating round of austerity on to already battered economies. If we repeat 2008, buying a house with one’s own wages will be a thing of the past Related: Don't expect a snapback for the UK economy after lockdown is lifted | Larry Elliott Continue reading.

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