{"id":2420,"date":"2021-09-01T09:54:21","date_gmt":"2021-09-01T08:54:21","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2021\/09\/01\/news-in-review-27\/"},"modified":"2022-07-05T14:11:07","modified_gmt":"2022-07-05T13:11:07","slug":"news-in-review-27","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2021\/09\/01\/news-in-review-27\/","title":{"rendered":"News in Review"},"content":{"rendered":"
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\u201cStrong policy support has fuelled a vigorous but uneven recovery\u201d<\/strong><\/em><\/p>\n<\/div>\n\n

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With the summer holiday season drawing to a close, travel\nstocks were impacted last week, following the latest announcement from the\nTransport Secretary. Although several additions were made to the green list,\nsome countries moved to the red list and popular holiday spots such as Spain,\nGreece, France and Italy remain on the amber list, a disappointment for many travellers\nand travel firms alike.<\/strong><\/strong><\/p>\n<\/div>\n\n

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On Friday, global investors were heavily focused on Jerome\nPowell\u2019s Jackson Hole keynote speech. During the much-anticipated symposium of\ncentral bankers, the Federal Reserve Chairman said the US Central Bank could\nbegin to withdraw stimulus later this year, but the evolving impact of the\nDelta variant will be closely monitored. Despite a recent spike in inflation, he\nsaid the bank was in no rush to raise interest rates. He commented, \u201cStrong\npolicy support has fuelled a vigorous but uneven recovery\u2026 We have said that we\nwould continue our asset purchases at the current pace until we see substantial\nfurther progress toward our maximum employment and price stability goals.\u201d<\/em><\/em><\/p>\n<\/div>\n\n

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European stock markets bounced on Friday and US stocks hit record highs\non Monday as the Fed\u2019s cautious approach gave investors some reassurance that the central\nbank’s efforts to shore up the economy will be withdrawn gradually. US stocks slipped from record\nhighs on Tuesday as investors concerns intensified about the surge in Delta\nvariant cases.<\/p>\n<\/div>\n\n

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UK business confidence has risen to its highest point in over four years\naccording to the Lloyds Bank Business Barometer, which suggests growing\noptimism is being fuelled by expectations of stronger growth in the coming year\nand improvements in trading prospects.<\/p>\n<\/div>\n\n

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Contactless\nlimit on the rise<\/strong><\/strong><\/p>\n<\/div>\n\n

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From\n15 October, it has been confirmed that the contactless card limit is to rise\nfrom \u00a345 to \u00a3100, an initiative first detailed in the Spring Budget in March. With\nalmost\ntwo-thirds of all debit card transactions currently being made via contactless technology,\nregulators have said that businesses can decide whether to accept the higher\nlimit or not. Chancellor Rishi Sunak commented, “Increasing\nthe contactless limit will make it easier than ever to pay safely and securely.\nAs people get back to the high street, millions of payments will be made\nsimpler, providing a welcome boost for retailers and shoppers.” <\/em>Concerns\nhave been raised regarding the risk of fraud as the limit increases further.<\/em><\/p>\n<\/div>\n\n

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July car production falls to lowest level in\n65 years<\/strong><\/strong><\/p>\n<\/div>\n\n

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In July, British car manufacturing output fell by 37.6%, the first\nfall since February and the worst July\nperformance since 1956. The latest\nfigures released by the Society of Motor Manufacturers and Traders (SMMT)\nemphasise how production volumes have been severely disrupted by global semiconductor\nshortages and staff absences caused by the \u2018pingdemic.\u2019 In July, production for\nthe UK market declined by 38.7% while manufacturing for export also fell, down\n37.4%. <\/p>\n<\/div>\n\n

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Demand for alternatively fuelled models is picking up, with over a\nquarter (26%) of all cars made in July being alternatively fuelled, the highest\nshare on record.<\/p>\n<\/div>\n\n

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Mike Hawes, SMMT Chief Executive commented,<\/strong> \u201cThese figures lay bare the extremely\ntough conditions UK car manufacturers continue to face… The UK automotive\nindustry is doing what it can to keep production lines going, testament to the\nadaptability of its workforce and manufacturing processes, but government can\nhelp by continuing the supportive COVID measures currently in place and\nboosting our competitiveness with a reduction in energy levies and business\nrates for a sector that is strategically important in delivering net zero.\u201d <\/em><\/p>\n<\/div>\n\n

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UK’s\nfirst green gilt set to mature in 2033<\/strong><\/strong><\/p>\n<\/div>\n\n

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At\nleast \u00a315bn of green gilts are set to be issued in the current financial year, the proceeds of which will go\ntowards funding environmental projects. With COP 26 on the horizon, the gilts\nform part of the Chancellor\u2019s drive to assist the UK finance sector to meet its\nnet zero ambitions. It was announced last week by the Debt Management Office,\nthat the UK\u2019s inaugural green gilts, set to be launched in September, will have\na maturity date of 31 July 2033. Later this year a new green bond for retail investors\nwill also go on sale. Coupon rates are set to be announced in due course.<\/p>\n<\/div>\n\n

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Here to help<\/strong><\/p>\n<\/div>\n\n

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Financial advice is key, so\nplease do not hesitate to get in contact with any questions or concerns you may\nhave.<\/p>\n<\/div>\n\n

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The value of\ninvestments can go down as well as up and you may not get back the full amount\nyou invested. The past is not a guide to future performance and past\nperformance may not necessarily be repeated.<\/strong><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

\u201cStrong policy support has fuelled a vigorous but uneven recovery\u201d With the summer holiday season drawing to a close, travel stocks were impacted last week, following the latest announcement from the Transport Secretary. Although several additions were made to the green list, some countries moved to the red list and popular holiday spots such as […]<\/p>\n","protected":false},"author":12,"featured_media":107555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,112],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/2420"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=2420"}],"version-history":[{"count":2,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/2420\/revisions"}],"predecessor-version":[{"id":6699,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/2420\/revisions\/6699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=2420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=2420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=2420"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=2420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}