Economy

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) The biggest US banks move trillions of dollars around the world every day. That gives them a unique lens on how the economy is functioning, both in the United States and globally. And despite concerns about inflation , workers quitting, supply chain issues and slowing growth, bank executives just delivered a clear message to investors: We're in pretty good shape right now. "While there's been some discussion around the slowdown, I would just note that US economy is now as large as it was ... pre-pandemic," Bank of America CEO Brian Moynihan told analysts Thursday. Wall Street is cheering the latest earnings from America's top lenders, which have released billions of dollars they'd set aside earlier in the coronavirus crisis to cover …

Continue Reading about What big bank earnings tell us about America’s economy →

The Prime Minister as he departs to chair his regional cabinet meeting in Bristol (Image: Andrew Parsons / No 10 Downing Street) Sign up for FREE now and never miss the top politics stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The Prime Minister welcomed almost £6billion of investment from abroad which has helped to secure tens of thousands of jobs. Mr Johnson was gathering his top team today for a meeting away from Downing Street as he seeks to portray the country as a beacon for green investment. Ministers will meet in south-west England, with the Prime Minister claiming that a combination of Government support and "British zeal for innovation and commerce" has put the nation at the forefront of a green industrial revolution. The …

Continue Reading about PM’s on it! ‘Green industrial revolution’ brings investments and jobs boom →

Sunak is 'confident' there will be enough Christmas presents for everyone. (Image: Getty Images) Sign up for FREE now and never miss the top politics stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The Chancellor said the Government was working with businesses under pressure and doing "absolutely everything" possible to sort out supply shortages hitting stores. Mr Sunak said he was positive enough Christmas supplies would flow in time for the present-buying surge, saying: "We're doing absolutely everything we can to mitigate some of these challenges. Related articles This is urgent! Brexit fishing alert on £21bn Norway deal Don’t waste our time! Ireland lays down law in Brexit row "They are global in nature so we …

Continue Reading about Rishi Sunak insists there will be enough Christmas presents →

Coronavirus: Narendra Modi asks India for 'forgiveness' Sign up for FREE now and never miss the top politics stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Mr Johnson unveiled a new £1 billion agreement with India’s President Narendra Modi which he says will create 6,500 British jobs, with the two due to formalise arrangements during a virtual meeting today. However, Nayan Gala, co-founder of venture capitalist firm JPIN VCATS, suggested Mr Johnson ’s announcement had the potential to deliver vastly bigger benefits for both sides. Related articles Bill Gates court documents confirm no prenup with Melinda 21-TON space debris falls to Earth in uncontrolled reentry He said: "It's great to see …

Continue Reading about The big one! Brexit trade agreement with India could pave way for £100 BILLION deal →

The U.S. labor market is stalling and in a “deep hole” that could take years to escape if lawmakers do not quickly pass an aid package that gives workers a bridge to the end of the pandemic, Treasury Secretary Janet L. Yellen warned on Sunday. By contrast, passing the $1.9 trillion package that President Biden has proposed could allow the economy to reach full employment by next year, Ms. Yellen said. She rebutted concerns that big spending would lead to inflation, and said that the economy would be stuck in the kind of long, slow recovery that followed the 2008 financial crisis if lawmakers do too little now. “The most important risk is that we leave workers and communities scarred by the pandemic and the economic toll that it’s taken,” Ms. Yellen said on the CNN program “State of the Union.” “We have to make sure this doesn’t take a permanent toll on their lives.” Lawrence H. Summers, a former Treasury secretary under President Bill Clinton, argued in The Washington …

Continue Reading about Without a big aid bill like Biden’s, jobs will be slow to rebound, Yellen warns. →

8 LONDON — British health officials say 43,000 people in southwest England may have been wrongly told they don’t have the coronavirus because of problems at a private laboratory. The U.K. Health Security Agency says a lab in Wolverhampton, central England has been suspended from processing the swabs after reports of false negatives. The faulty results are among tests processed at the Immensa Health Clinic Lab between early September and this week. The issue was uncovered after some people who were positive for COVID-19 when they took rapid tests went on to show up as negative on more accurate PCR tests. One local authority, West Berkshire Council, has told people who were tested at the government-run Newbury Showground site between Oct. 3 and 12 and were told they were negative to get tested again. Britain conducts about 1 million coronavirus tests a day and reported almost 40,000 new infections a day over the past …

Continue Reading about The Latest: UK lab suspended over false negative COVID tests →

WASHINGTON (AP) — The Biden administration is taking steps to address the economic risks from climate change, issuing a 40-page report Friday on government-wide plans to protect the financial, insurance and housing markets and the savings of American families. Under the report, the mortgage process, stock market disclosures, retirement plans, federal procurement and government budgeting are all being reconsidered so the country could price in the risks being created by climate change. The report is a follow-up to a May executive order by President Joe Biden that essentially calls on the government to analyze how extreme heat, flooding, storms, wildfires and broader adjustments to address climate change could affect the world's largest economy. “If this year has shown us anything, it’s that climate change poses an ongoing urgent and systemic risk to our economy and to the lives and livelihoods of everyday Americans, and we must act now,” Gina McCarthy, the White House national …

Continue Reading about White House plans to address economic risk of climate change →

Shaun Bailey: London Mayor role is not about 'looking good' Sign up for FREE now and never miss the top politics stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info London Mayor Sadiq Khan is currently a near shoo-in for London Mayor, with more than 50 percent of the vote expected following recent polls. His monumental lead over the Tory candidate, now nearly more than double, could see him claim the race in the first of its two rounds. He is also forecast to win a record number of votes, hamstringing the Conservative presence in the city. Related articles Sadiq Khan slammed for 'virtue-signalling' instead of tackling crime London Mayor 2021: Khan is ‘apathetic’ and Johnson’s a “coward’ - Rose Will …

Continue Reading about London Mayoral elections: Will Conservatives EVER reclaim London? ‘Tough race’ →

Ruth Davidson discusses gas price issues on Peston Sign up to receive our rundown of the day's top stories direct to your inbox SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Gas prices have hit record levels and will remain high throughout the winter experts have said. The founder of manufacturing giant Ineos has warned industry could be forced to close if supplies run out, with a lack of gas storage in the UK. But where exactly does the UK's gas come from? Related articles Screaming woman brands judge 'stupid cow' after jail sentence Chris Whitty issues horror winter Covid warning as cases soar Sir Jim Ratcliffe, founder of Ineos told ITV's Peston a sharp winter could lead to a widespread shutdown as …

Continue Reading about UK gas supply MAPPED: Where does UK’s gas come from? →

Britain will offer six-month emergency visas to 800 butchers. (Image: Paul Faith / AFP) (Photo by PAUL FAITH/AFP via Getty Images) Sign up for FREE now and never miss the top politics stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Britain will offer six-month emergency visas to 800 butchers to avoid a mass pig cull caused by a shortage of labour and supply chain issues. Environment Secretary George Eustice said the requirement for butchers to be fluent in English will not be dropped. Related articles Screaming woman brands judge 'stupid cow' after jail sentence Chris Whitty issues horror winter Covid warning as cases soar The army of workers is expected to begin arriving from next month. Mr Eustice added: …

Continue Reading about UK to grant temporary visas for butchers to prevent mass pig cull →