It is known throughout the world as a byword for security. But the Bank of England (BoE) is evidently a tad unclear on the whereabouts of £50b of banknotes, and it doesn’t seem to be overly concerned about it, a powerful group of MPs has said.
More than 32 million of the world’s poorest people face being pulled back into extreme poverty because of COVID-19, leading UN economists said on Thursday, highlighting data showing that the pandemic is likely to cause the worst economic crisis in decades among least developed countries (LDCs).
Oil prices jumped around 2% on Friday, heading for a fifth week of gains, as major producers agreed on a compromise to continue some cuts to production to cope with coronavirus-hit demand even though these fell short of expectations.
General Motors will not be taking a stake in the electric vehicle company Nikola, and the company said that it was scuttling one of its marquee vehicles, an electric and hydrogen-powered pickup, after GM pulled technological support from the project. Shares of Nikola plunged 24%.
Asian share markets began the new month with a bang on Tuesday, buoyed by the prospect of a COVID-19 vaccine fueling a global economic recovery, buoyant Chinese factory activity and expectations of continuing fiscal and monetary support.