Video: U.S. Job Gains Slow as Economic Recovery Downshifts (Bloomberg)

U.S. Job Gains Slow as Economic Recovery Downshifts

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The UK economy continued its rapid rebound from the depths of the coronavirus lockdown in August, the latest official data on growth is expected to show on Friday, but many economists are braced for a grim winter as job losses mount.



a group of people standing in front of a building: Photograph: Justin Tallis/AFP/Getty Images


© Provided by The Guardian
Photograph: Justin Tallis/AFP/Getty Images

The Bank of England’s chief economist, Andy Haldane, predicted last week that GDP would be “only around 3-4% below its pre-Covid level” by the end of the third quarter, covering July to September.

That would imply further significant increases in the UK’s economic output since July, when output remained 11.8% below the level hit in February, according to figures from the Office for National Statistics. The full picture for the third quarter will not be evident until

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There will be some checks on agri-food goods travelling between Northern Ireland and Great Britain after Brexit, the Northern Ireland Secretary has confirmed.

randon Lewis said such checks had been in place “since about the 19th century” and the Government would work to “deliver in a way that works for people and businesses, and all communities, in Northern Ireland”.

During Northern Ireland questions, he told the Commons: “We have also been clear there will be some checks, particularly on SPS (sanitary and phytosanitary) – live animal and agri-foods, as an example.

“We are delivering on that with the Northern Ireland Executive and these are checks that are building on checks that have been in place since about the 19th century.

“But we are determined to deliver in a way that works for people and businesses, and all communities, in Northern Ireland.”

Mr Lewis also confirmed a “slimmed-down Finance Bill” will

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In this image made from UNTV video, Charles Michel, President of the European Council, European Union, speaks in a pre-recorded message which was played during the 75th session of the United Nations General Assembly, Friday, Sept. 25, 2020, at UN headquarters, in New York. (UNTV via AP)


© Provided by Associated Press
In this image made from UNTV video, Charles Michel, President of the European Council, European Union, speaks in a pre-recorded message which was played during the 75th session of the United Nations General Assembly, Friday, Sept. 25, 2020, at UN headquarters, in New York. (UNTV via AP)

UNITED NATIONS (AP) — The Latest from the U.N. General Assembly (all times EDT):

10:50 a.m.

European Union leader Charles Michel used the virtual pulpit of the U.N. General Assembly on Friday to lash out at Britain, which is threatening to renege on parts of the withdrawal treaty it signed with the EU. He warned that the 27-nation bloc won’t back down in the final weeks of acrimonious talks on a free-trade deal.

“Respect for treaties, a basic principle of international law, comes to be considered optional even by those who, until recently, were its historical guarantors,” Michel

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By David Milliken and Andy Bruce

LONDON (Reuters) – Britain’s government launched scaled-back job support on Thursday for workers hit by the resurgent COVID-19 pandemic, but warned not everyone could be helped during an economic meltdown that is threatening millions of jobs.

Finance minister Rishi Sunak also unveiled plans to extend loan repayments for businesses and delay ending a tax cut for the hospitality sector which has been drastically hit by coronavirus restrictions.

Despite the state support, unemployment looks set to surge by the end of the year, with major employers from British Airways to Rolls-Royce and Marks & Spencer shedding jobs rapidly.

“I cannot save every business, I cannot save every job,” Sunak told parliament as he announced his Winter Economy Plan, which replaced a planned budget statement and set out a six-month replacement for the jobs furlough scheme.

“As the economy reopens it is fundamentally wrong to hold

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Two families on relatively low incomes will win a lottery in New Britain next month that will let them buy their first homes.

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The city is selling two houses on the East Side that it bought and extensively renovated, with each set to sell for tens of thousands of dollars below market rate.

New Britain isn’t looking to make money on the deal, though, city officials emphasized. Using federal funds, it periodically buys and rehabilitates homes and then sells them to first-time homebuyers who otherwise could not afford to own property.

“It’s a great boost for them. The people we sell to have never owned a home, so just doing this is a great self-esteem boost that they take pride in,” said Margaret Malinowski of the city’s economic development department.

Many communities around the country use lotteries to award low- or moderate-income apartment leases when demand is high,

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White House economic adviser Larry Kudlow said that unlike in Britain and Europe, there are no concerns over stock markets in the U.S.

“There’s some worries that Britain might shut down,” he told reporters at the White House on Monday. “It’s coming out of London. I can’t verify it. It’s not my job, but I read the reports like everybody else and I think that’s a great concern.”

“The USA is in a much better position, thankfully. We’ve regained control of the virus, both the cases and the fatalities,” he added. “But I think people are worried about Britain, and maybe the rest of Europe as well.”

The U.K. economy was one of the major economies hit hardest by the coronavirus pandemic. According to the Organization for Economic Co-Operation and Development, the U.K.’s GDP saw a 20.4 percent decline between April to June.

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When the U.K.

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By Huw Jones

LONDON, Sept 21 (Reuters)Britain plans to buttress the City of London’s global competitiveness and openness once it moves outside the European Union with new financial services sector legislation.

Although Britain left the EU in January, its unfettered access to the bloc for banks and other financial firms does not end until December, when transition arrangements expire.

John Glen, Britain’s financial services minister, said on Monday that new Financial Services Bill would create a modern, flexible and robust system of financial regulation.

“(It) will underpin the continued global competitiveness of the UK financial services sector by enhancing its world leading prudential standards, promoting openness to international markets and maintaining the effectiveness of financial services regulatory framework and sound capital markets,” Glen said.

The reference to world leading prudential standards will reassure regulators in Britain who have cautioned about being given a formal remit to maintain

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  • Britain’s health minister, Matt Hancock, said a second national lockdown could be a possibility if government-issued COVID-19 preventative measures are not followed. 
  • “The nation faces a tipping point and we have a choice,” Hancock told Sky News. “The choice is either that everybody follows the rules … or we will have to take more measures.”
  • Prime Minister Boris Johnson announced people will be fined if quarantine requirements for those who were exposed to coronavirus are not followed on Saturday. 
  • Visit Business Insider’s homepage for more stories.

 

LONDON (Reuters) – Britain is at a tipping point on COVID-19, health minister Matt Hancock said on Sunday, warning that a second national lockdown could be imposed if people don’t follow government rules designed to stop the spread of the virus.

COVID-19 cases have risen sharply in recent weeks to more than 4,000 per day. Prime Minister Boris Johnson has called it a second

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Sept. 3 (UPI) — Amazon announced Thursday it will create 10,000 new jobs across Britain, growing its workforce in the country to 40,000.

The online retailer said it’s already added 3,000 new jobs at fulfillment and sort centers and delivery stations in Britain, including a state-of-the-art fulfillment center it opened in May.

The other 7,000 jobs will be created by the end of the year at more than 50 locations, it said.

“While this has been a challenging time for many businesses, it is hugely encouraging to see Amazon creating 10,000 jobs,” British Business Secretary Alok Sharma said in a statement. “This is not only great news for those looking for a new job but also a clear vote of confidence in [Britain’s] economy as we build back better from the pandemic.”

Amazon said it will hire in a range of fields, including engineering, information technology, human resources, health, safety

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They are essential to our survival as a species. But every year, millions of acres of rainforest are destroyed to make way for industrial agriculture.

That’s why this week, the U.K. government proposed a new law it says could help end the destruction of rainforests worldwide. Under the proposals, large businesses operating in the U.K. would be prohibited from using products grown on illegally deforested land. 

But questions have emerged regarding how effective the proposed law will really be.

Under the new law, put together by the Department for Environment, Food and Rural Affairs (Defra) large companies would be required to publish information to show that commodities associated with deforestation, such as palm oil, were produced in line with local laws protecting forests. The consultation paper states

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