(CALIFORNIA) JUST IN: Amazon announced Tuesday that it’s creating an additional 100,000 seasonal jobs: Last month, the retail giant said it was hiring 100,000 full- and part-time workers across the U.S. and Canada #AceNewsDesk report

#AceFinanceReport – Oct.27: The company said the newest crop of positions will allow people to earn money during the holiday season, and many of the job locations will include bonus holiday incentives: With more than 12 million Americans out of work according to the U.S. Bureau of Labor Statistics these new seasonal roles in several locations across the US and Canada will complement its regular full- and part-time positions,” Amazon said in a statement. “Amazon offers jobs for people of all backgrounds and skill levels, and these 100,000 new, seasonal jobs offer opportunities for pay incentives, benefits, and a path to a longer-term career, or can simply provide extra income and flexibility during the holiday season.”

The retail giant also said it has promoted more than 35,000 employees in 2020, and 30,000 workers have participated in its Career Choice program, which is designed to help “upskill” people seeking a future in a “high-demand field” by offering courses on 20 career paths.

‘ The company said half of the program’s participants are from underrepresented minority groups

“Career Choice is one way we help people think big about their careers, and we offer training across a wide variety of skills needed for high-demand fields,” Darcie Henry, VP of Global HR for Amazon Operations, said in a statement.

‘ The company said the new positions could lead to a more permanent opportunity

“A job with Amazon can be the start of a future, long-term career inside or outside of the company,” the retailer said.

Anyone interested in applying can visit amazon.com/apply. The company said training will be provided and all facilities will adhere to strict COVID-19 health and safety protocols.

#AceFinanceDesk report ……………..Published: Oct.27: 2020:

#breaking, #books, #crime, #entertainment, #fashion, #international, #media, #people, #social, #world

(BEIJING, China.) JUST IN: Chinese Foreign Minstry Report: Retalition and vows ‘appropriate & necessary measures’ in response to US plans to sell Harpoon missiles to Taiwan worth $24-billion it was announced on Monday #AceFinanceDesk report

#AceFinanceReport – Oct.27: Beijing has promised to retaliate after Washington approved yet another deal to sell US-made weapons to Taiwan. China already sanctioned Boeing and Lockheed Martin due to arms trading with Taipei earlier this week.

Chinese Foreign Ministry spokesperson Wang Wenbin told reporters that arms sales to Taiwan “violate the ‘One-China’ principle’” and “seriously damage the Chinese-US relations and the peace and stability across the Taiwan Strait.”

China will take appropriate and necessary measures to firmly safeguard its national sovereignty and security interests.

On Monday, the US State Department authorized the potential sale of up to 100 Harpoon Coastal Defense Systems worth around $2.4 billion to Taipei, saying that it considers Taiwan’s security “central” to the security of the broader Indo-Pacific region: Taiwan’s Defense Ministry welcomed the news, stating that the US is “actively assisting” in strengthening the island nation’s defenses:

The approval of another arms deal comes after the US government separately authorized the sale of weapons worth $1.8 billion to Taiwan, including 135 precision-guided cruise missiles: Beijing responded by blacklisting major American weapons manufacturers Boeing, Lockheed Martin, and Raytheon, along with several other US individuals and entities linked to the arms trade with Taiwan:

RT.Com/

RT

China’s new sanctions against American defence companies have the potential to cause major damage to the US military

#AceFinanceDesk report …………..Published: Oct.27: 2020:

#breaking, #books, #crime, #entertainment, #fashion, #international, #media, #people, #social, #world

(WASHINGTON) JUST IN: The United States on Monday told the WTO that it regretted the European Union’s seeking retaliatory tariffs for Boeing BA.N subsidies, and that it favoured a “negotiated resolution” with the bloc over its subsidies to rival planemaker Airbus AIR.PA #AceFinanceDesk report

#AceFinanceReport – Oct.26: U.S. regrets EU move on tariffs, seeks deal on Boeing-Airbus row according to speech: The U.S. speech, seen by Reuters, came at a meeting of the World Trade Organization’s Dispute Settlement Body (DSB) which gave its formal clearance on Monday for the EU to impose tariffs on $4 billion of U.S. goods:

https://t.me/reuters_news_agency/42991
Reuters Wire News, [Oct 26, 2020 at 12:28]

“ In conclusion, the United States strongly favors a negotiated resolution of its dispute with the EU over the massive launch aid subsidies it provided to Airbus: The United States has recently provided proposals for a reasonable settlement that would provide a level playing field,” the U.S. delegation said:

#AceFinanceDesk report ……….Published: Oct.26: 2020:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) GOVUK Press Release Statement Report: Scottish & U.K. Goverments to collaborate on ‘ vouche r funding scheme ‘ to subsidise costs of building gigabit-capable broadband networks in rural and ha rd-to-reach areas of Scotland: Full details below on how to apply etc #AceFinanceDesk report

#AceFinanceReport – Oct.24: A new collaboration between the Scottish and UK Governments will see voucher funding joined up to make more money available to subsidise the costs of building gigabit-capable broadband networks to hard-to-reach areas of Scotland: Gigabit-capable broadband enables internet download speeds of up to 1,000 megabits per second (mbps) which is enough to download a HD movie in less than 30 seconds. It has the potential to make rural communities even more attractive places to live by giving people the freedom to work more flexibly and develop thriving digital economies: The UK Government’s Gigabit Broadband Voucher Scheme targets areas where the cost of building new gigabit broadband infrastructure, which often requires digging trenches to lay full fibre cables to people’s doorsteps, is likely to be too high for commercial operators to cover alone:

Big broadband boost for Scotland

Thousands of rural homes and businesses across Scotland have been given access to more financial help to get top-of-the-range broadband speeds

Department for Digital, Culture, Media & Sport

  • New agreement to join up the UK and Scottish Government’s broadband voucher schemes to help rural areas get gigabit-capable broadband connections
  • £6m to connect hundreds of public sector buildings across Angus, Dundee, and Perth & Kinross

Since May 2019, vouchers worth up to £3,500 for small and medium sized businesses and up to £1,500 for residential premises have been available to cover these costs across the UK: The Scottish Government’s supplier-led Scottish Broadband Voucher Scheme (SBVS) provides people with a voucher worth up to £5,000 to help deliver a permanent broadband connection to properties where there is no roll-out of superfast broadband planned: To ensure even those in the hardest-to-reach areas of Scotland don’t miss out on gigabit-capable broadband, the Scottish Government has teamed up with the UK Government to combine their funding and expand that pot to up to £8,500 for SMEs and up to £6,500 for homes: The offer means eligible people experiencing the slowest speeds in some of the most remote areas of Scotland will be able to access a voucher that provides the maximum funding from both schemes: Ministers from the UK and Scottish governments are now urging businesses and communities to apply to future-proof their internet connections and be ready to reap the economic and social benefits brought by advances in technology:

Matt Warman, UK Government Minister for Digital Infrastructure, said:

This government is determined to connect every home and business to the fastest broadband available. Our new deal with the Scottish Government unlocks extra funding to help rural communities benefit from gigabit-capable connections.

A quarter of all properties across the UK can now access these faster speeds and with more collaboration like this at a local and national level, we will see even more rural towns and villages staking their claim to these next-generation speeds.

Scotland’s Connectivity Minister Paul Wheelhouse said:

We have been working closely with the UK Government to join up our respective funds and processes to maximise the impact of our respective voucher schemes across Scotland to add to progress achieved under the Digital Scotland Superfast Programme and augment our investment through our £600 million R100 programme. This collaboration will ensure that more people, communities and businesses in the hardest-to-reach areas in Scotland are able to access maximum funding available for better broadband.”

UK Government Minister for Scotland, Iain Stewart, said:

The UK Government has been working closely with the Scottish Government and local authorities to ensure thousands of rural homes and businesses across Scotland have top-of-the-range broadband speeds.

Better connectivity is more important than ever, with many people relying on technology to stay in touch with loved ones and work from home as we navigate the coronavirus pandemic.

I encourage rural homes and businesses across Scotland to use the postcode checker on gov.uk to find out more information.

The move comes as almost £6 million for broadband across the Tay Cities Region is being released through the UK Government’s Local Full Fibre Networks programme: The first part of the project has seen £2.9 million of UK government funding awarded to BT to connect more than 150 schools, libraries and other public buildings in Angus and Perth & Kinross to gigabit-speed broadband: This will be followed by further procurements to be completed shortly which will release £2 million to connect around forty public buildings in Dundee and £1 million for thirty more premises in Perth & Kinross: The Tay Cities project is part of a strategy to bring gigabit-capable connections to publicly owned and community buildings so they act as full fibre ‘hubs’ off which industry can build their networks to connect surrounding homes and businesses.

Alan Lees, Director of BT’s Enterprise unit in Scotland, said:

Our world-class full fibre network will enhance Tayside’s connectivity by bringing ultrafast broadband speeds to people and businesses across the region as well as underpinning the roll out of 5G mobile services. Digital technology is transforming every element of the way we live. In a world where everyday life and work increasingly depend on technology, digital skills can be the difference between getting ahead or being left behind.

ENDS

Additional Notes:

  • The Gigabit Broadband Voucher Scheme is a UK-wide, supplier-led scheme offering vouchers used as part of a group project, to pay towards the cost of installing gigabit-capable broadband to rural premises, i.e. homes and businesses, providing speeds of over 1,000 Mpbs or 1 Gbps. Beneficiaries do not have to take those speeds and pay only for what they want to use, knowing they can increase them over time. Anyone who is interested uses a postcode checker to find registered suppliers in their area. Their chosen supplier will guide them through the application. For more information and to check eligibility visit: https://gigabitvoucher.culture.gov.uk/.
  • Information on the Scottish Broadband Voucher Scheme can be found here: https://www.scotlandsuperfast.com/how-can-i-get-it/voucher-scheme/. There is an online checker that will allow any property owner and/or tenant to enter their details and confirm whether or not they are eligible for a voucher through the SBVS.
  • Almost 500,000 premises across the UK have been given access to gigabit-capable broadband since summer 2018 through a £1 billion UK Government funding commitment until the end of 2021. Combined with industry investment it means more than 8 million premises can now access gigabit capable broadband compared to around 1.4 million premises two years ago. On top of this, the government has promised £5 billion to ensure hard-to-reach areas get access to gigabit connections over the next few years. Details on how this will be spent will be announced this autumn.

    #AceFinanceDesk report …………….Published: Oct.24: 2020:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) GOVUK Press Release Statement Report: Scottish Businesses are set to benefit from the historic UK-Japan Comprehensive Economic Partnership Agreement (CEPA) Iconic Scottish products, are to be protected in Japan for the first time under a new agreement on Geographical Indicators (GIs). While Scotch Whisky distillers will continue to benefit from tariff-free trade #AceFinanceDesk report

#AceFinanceReport – Oct.24: Scottish businesses are set to benefit from the historic UK-Japan Comprehensive Economic Partnership Agreement (CEPA) signed by International Trade Secretary Liz Truss and Japan’s Foreign Minister Motegi Toshimitsu in Tokyo today (Friday 23 October) The deal could increase UK trade with Japan by £15.7 billion, giving a £1.5 billion boost to the economy and increasing UK workers’ wages by £800 million in the long run: This will benefit over 500 businesses in Scotland that exported £503.4 million in goods to Japan last year and help even more local businesses sell their goods and services to the Japanese market:

After signing on Friday of CEPA Scottish businesses to benefit from the UK-Japan trade agreement with protected status given to their iconic products

Office of the Secretary of State for Scotland

Iconic Scottish products, including Scotch beef, native Shetland wool, and Stornaway black pudding are to be protected in Japan for the first time under a new agreement on Geographical Indicators (GIs). While Scotch Whisky distillers will continue to benefit from tariff-free trade: The food and drink industry, which employed 46,000 people in Scotland in 2018, will also benefit from a reduction in tariffs on beef, pork and salmon:

The Scottish Salmon Company, headquartered in Edinburgh, is one business already experiencing success in Japan with their GI status farmed salmon, which will continue to be recognised under the new deal: A leading producer of quality Scottish farmed salmon, the business exports its sustainably sourced fish to 20 countries around the world: Its global success has helped employ over 650 staff in rural communities across the West Coast of Scotland and the Hebrides: The Department for International Trade has supported the business since 2011 and has helped facilitate key introductions with overseas contacts in several markets:

The Scottish Salmon Company Communications and New Business Development Director, Su Cox, said:

We have been exporting to Japan for many years. It is a key growth market for our business and increasing demand for our salmon has helped drive greater export sales to the region.

More and more consumers are discovering the great taste and provenance of quality Scottish products like our ‘Tartan Salmon’ and we are securing new contracts with companies like Gatten Sushi. Gatten is one of the country’s most well-established sushi chains and our salmon is currently on the menu in key locations.

We have ambitious plans to grow export sales to Japan and good trading relations are critical in supporting this. We take great pride in our Scottish heritage and Protected Geographical Indication which acts as a guarantee of the Scottish provenance that is so in demand in worldwide markets.

Johnstons of Elgin, one of Scotland’s most renowned textile firms, has also found big success in Japan as quality Scottish textiles prove popular with consumers there.

The Moray-based company, founded in 1797, manufactures and sells cashmere and fine woollen products. The luxury textile manufacturer employs about 1,000 people across its Elgin mill and large manufacturing base in the Scottish Borders.

Johnstons of Elgin Chief Executive, Simon Cotton, said:

Our products have been made in Scotland by skilled craftsmen using the highest quality, natural fibres for over 200 years. Our ultra-fine cashmere knits use the latest Japanese whole-garment technology and specially developed yarns, a mark of luxury that is so important to our consumers.

Japan is a key growth market for us and our success to date is evidence of the demand for quality products made in Scotland that stand the test of time. This deal is very welcome and will help to support our continued growth in this market.

The deal is the first agreement that the UK has secured that goes beyond the existing EU deal, with enhancements in areas such as digital and data, financial services, food and drink, and creative industries: It secures major wins that would be impossible as part of the EU and brings together two of the world’s most technologically advanced nations, placing the UK at the forefront of shaping new global standards on digital trade:

International Trade Secretary, Liz Truss said:

Today is a landmark moment for the UK. It shows what we can do as an independent trading nation, as we secure modern and bespoke provisions in areas like tech and services that are critical to the future of our country and the reshaping of our economy.

Trade is a powerful way to deliver the things people really care about. At its heart, this deal is about creating opportunity and prosperity for all parts of our United Kingdom and driving the economic growth we need to overcome the challenges of coronavirus.

The agreement also has a much wider strategic significance. It opens a clear pathway to membership of the Trans-Pacific Partnership – which will open new opportunities for UK business and boost our economic security – and strengthens ties with a like-minded democracy, key ally and major investor in the UK.

UK Government Minister for Scotland, David Duguid said:

Today’s signing of the UK’s new trade deal with Japan is much-anticipated and very welcome news, offering a real boost to Scottish businesses.

Last year, Scottish businesses exported goods worth more than £500 million to Japan, with 574 businesses exporting there for the first time.

Scotland’s world-famous products, including Scottish salmon, Scotch beef and lamb – and of course, Scotch Whisky – are set to receive a significant export boost.

This deal is further evidence of how we can unlock our full potential outside the EU, which could benefit all parts of the United Kingdom.

UK exports to Japan have been growing by an average of 8.2% year-on-year over the previous five years: With this free trade deal in place, potential benefits include better jobs, higher wages, more choice and lower prices for all parts of the UK: This agreement also makes it easier for British and Japanese professionals to work in each other’s countries, with Japan making it easier to obtain travel visas and work permits: The agreement also includes a strong commitment from Japan to support the UK joining the Trans-Pacific Partnership (TPP), one of the world’s biggest free trade areas, covering 13% of the global economy in 2018 and more than £110 billion in trade in 2019:

Other benefits include:

  • cutting-edge digital & data provisions that go far beyond the EU-Japan deal, including enabling free flow of data, a commitment to uphold the principles of net neutrality and a ban on unjustified data localisation that will prevent UK businesses from having the extra cost of setting up servers in Japan
  • supporting UK car and rail manufacturing jobs at major investors in the UK like Nissan and Hitachi through reduced tariffs on parts coming from Japan, streamlined regulatory procedures and greater legal certainty for their operations
  • UK consumers to benefit from cheaper, high-quality Japanese goods, from udon noodles to Bluefin tuna and Kobe beef

The UK stands firm in trade negotiations to ensure any future trade deals protect our NHS and maintain all existing protections for our high standards of food safety and animal welfare:

The final agreement text will then be laid in Parliament for 21 sitting days for scrutiny under the Constitutional Reform and Governance (CRaG) Act: A full parliamentary report will also be published on the agreement, providing an explanation of the CEPA, including any significant differences or enhancements between the UK-Japan CEPA and the EU-Japan Agreement.

#AceFinanceDesk report …………..Published: Oct.24: 2020:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) GOVUK Press Release Statement Report: International Trade Secretary: Liz Truss: U.K. Officially sig ns economic partnership agreement with Japan, marking an historic moment, as the UK’s first major trade deal as an independent trading nation as the UK takes up the G7 presidency, wher e we will champion free trade: #AceFinanceDesk report

#AceFinanceReport – Oct.24: The UK has officially signed an economic partnership agreement with Japan, marking an historic moment, as the UK’s first major trade deal as an independent trading nation and offering a glimpse of Global Britain’s potential: The UK-Japan Comprehensive Economic Partnership Agreement was signed by International Trade Secretary Liz Truss and Japan’s Foreign Minister Motegi Toshimitsu in Tokyo this morning (Friday 23 October): The deal is tailored to both economies and has secured that goes beyond existing EU deals, with big benefits for digital and data, financial services, food and drink, and creative industries:

#BrexitNext as UK and Japan sign free trade agreement

  • The UK–Japan Comprehensive Economic Partnership Agreement (CEPA) is the first deal that the UK has struck as an independent trading nation.
  • A British-shaped deal that goes beyond the existing EU agreement, securing bespoke benefits for British businesses and citizens.
  • Important step towards joining the Comprehensive Trans-Pacific Partnership free trade area –which would result in closer ties with 11 Pacific countries.

The deal brings together two of the world’s most technologically advanced nations, placing the UK at the forefront of shaping new global standards on digital trade: The estimated boost to trade between the UK and Japan is over £15 billion, with long term economic benefits that are crucial to ‘build back better’ from Covid-19, reshaping the UK economy so it is fit for the future: The agreement also includes a strong commitment from Japan to support UK joining the Trans-Pacific Partnership (TPP), one of the world’s biggest free trade areas, covering 13% of the global economy and more than £110bn of trade in 2019: This will help strengthen trade ties between the UK and eleven Pacific countries and set new standards for global trade: This signing marks a new closer alliance between the UK and Japan, which will see our two like-minded democracies work together as the UK takes up the G7 presidency, where we will champion free trade:

International Trade Secretary, Liz Truss said : 

Today is a landmark moment for Britain. It shows what we can do as an independent trading nation, as we secure modern and bespoke provisions in areas like tech and services that are critical to the future of our country and the reshaping of our economy.

Trade is a powerful way to deliver the things people really care about. At its heart, this deal is about creating opportunity and prosperity for all parts of our United Kingdom and driving the economic growth we need to overcome the challenges of coronavirus.

The agreement also has a much wider strategic significance. It opens a clear pathway to membership of the Comprehensive Trans-Pacific Partnership – which will open new opportunities for British business and boost our economic security – and strengthens ties with a like-minded democracy, key ally and major investor in Britain.

Additional Release Notes:

  • The UK – Japan Comprehensive Economic Partnership Agreement was agreed in principle on 11 September 2020.
  • It is the government’s ambition to secure free trade agreements with countries covering 80% of UK trade by 2022.    

#AceFinanceDesk report …………….Published: Oct.24: 2020:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(BEIJING, China.) Supply & Demand Report: Regions in north of the country enters winter season and a surge in heating and LNG Prices: At N.Y. Mercantile Exchange in contact price came to $2.795 per million British thermal units (MMBtu) on Monday, a surge of 20.47 percent compared with the same period last year #AceFinanceDesk report

#AceFinanceReport – Oct.21: As regions in northern China begin to enter the winter heating season, the natural gas market is experiencing increased demand and a surge in prices: The upcoming winter is likely to be a particularly cold one, causing analysts to predict China will buy more liquefied natural gas (LNG) from foreign sellers, reflecting a booming gas market in both supply and demand:

Northern China enters winter season and demand for heating and supply prices are already rising for LNG

Global Times: https://t.co/lPZkExaUaA

At the New York Mercantile Exchange, the November contact price came to $2.795 per million British thermal units (MMBtu) on Monday, a surge of 20.47 percent compared with the same period last year:

Domestic gas prices are in step with international LNG prices: This week’s average ex-factory prices of liquefied natural gas (LNG) surged 10.37 percent week-on-week, or from 292.76 yuan to 3114.21 yuan ($465.77) per ton: “Due to strong demand for LNG, many major receiving terminals in China jointly pushed up LNG prices after the National Day holiday,” said Zhai Cuiping, an LNG analyst at Chem365, adding that prices of domestic and imported gas have both soared: “Since some regions in northern China have already entered the winter heating season, it is now a tight balance between supply and demand in the natural gas market,” Feng Haicheng, an LNG analyst at SCI99, said on Tuesday, explaining that although LNG prices hiked, many trucks still transport LNG from terminals, and LNG shipments will continue to rise:

“Temperatures in northern China have dropped significantly, and some cities even experienced rain and snow: A very cold winter is likely on the horizon, which will drive LNG demand for city gas firms,” said Zhai, adding that consumption of gas and coal has already been increasing:

But supply will be relatively sufficient: “Utilization rates of 141 domestic LNG factories reached 63.18 percent this week, expanding 9.18 percentage points compared with the same period last year,” Feng said: China imported 5.96 million tons of LNG in August, an increase of 16.3 percent year-on-year, according to Customs data. Based on last year’s import volume, China will buy more LNG from foreign suppliers as demand continues to surge in the short term, said analysts.

China bought around 6.5 million tons of LNG from foreign suppliers in November last year, an increase of 10 percent year-on-year, and in December last year, the figure dropped slightly to approximately 6.44 million tons, said Zhang Rongrong, an LNG analyst at SCI99: “Looking ahead, with the gradual decrease in temperature and more cities entering the winter heating season, LNG prices will likely remain bullish,” added Zhai.

The supply of natural gas is relatively sufficient, and the balance of supply and demand is generally better than in previous years: However, considering the peak gas consumption in December and in January, there may be tight supply in some areas and over some time periods, Meng Wei, spokesperson of the National Development and Reform Commission, stated at a press conference Tuesday:

#AceFinanceDesk report …………………….Published: Oct.21: 2020:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(BEIJING, China.) Economical Report: CCP Declares #COVID19 under control asa economic growth accelerated to 4.9% over a year earlier in last quarter as shaky recovery gains strength analysts say as much as 30% of the urban workforce, or as many as 130 million people, may have lost their jobs at least temporarily #AceFinanceDesk report

#AceFinanceReport – Oct.20: Figures announced Monday for the three months ending in September were in line with expectations after the ruling Communist Party declared the outbreak under control in March and began reopening factories, shops and offices: Factory output rose, boosted by foreign demand for Chinese-made masks and other medical supplies. Retail sales, which had lagged behind the manufacturing rebound, finally returned to pre-virus levels: The economy “continued the steady recovery,” the National Bureau of Statistics said in a report:

However, it warned, “the international environment is still complicated and severe.” It said China still faces “great pressure” to prevent a resurgence of the virus: China, where the pandemic began in December, became the first major economy to return to growth with a 3.2% expansion in the quarter ending in June: Output contracted 6.8% in the first quarter after Beijing shut down the world’s second-largest economy:

Authorities have lifted curbs on travel and business but visitors to government and other public buildings still are checked for the virus’s telltale fever: Travelers arriving from abroad must be quarantined for two weeks:

Last week, more than 10 million people were tested for the virus in the eastern port of Qingdao after 12 cases were found there: That broke a streak of almost two months with no virus transmissions reported within China: Industrial production rose 5.8% over the same quarter last year, the National Bureau of Statistics reported, a marked improvement over the first half’s 1.3% contraction:

Chinese exporters have benefited from the economy’s relatively early reopening and global demand for masks and other medical supplies: They are taking market share from foreign competitors that still are hampered by anti-virus controls: Retail sales returned to positive territory in the latest quarter, rising 0.9% over a year earlier: That was up from a 7.2% contraction in the first two quarters as consumers, already anxious about a slowing economy and a tariff war with Washington, put off buying: In a sign demand is accelerating, sales in September rose 3.3%.

Private sector analysts say as much as 30% of the urban workforce, or as many as 130 million people, may have lost their jobs at least temporarily: They say as many as 25 million jobs might be lost for good this year:

The ruling party promised in May to spend $280 billion on meeting goals including creating 9 million new jobs: But it has avoided joining the United States and Japan in rolling out stimulus packages of $1 trillion or more due to concern about adding to already high Chinese debt:

#AceFinanceDesk report ……………….Published: Oct.20: 2020:

#breaking, #books, #crime, #entertainment, #fashion, #international, #media, #people, #social, #world

(BEIJING, China.) JUST IN: Following US Moves lawmakers have passed a law restricting exports of controlled items, allowing the government to act against countries that abuse export controls in a way that harm ’s their country’s interests, state media said on Saturday #AceFinanceDesk report

#AceFinanceReport – Oct.18: China passes export-control law following U.S. moves: The Xinhua news report late on Saturday did not name any target countries, but the United States last month angered Beijing with curbs on exports to Semiconductor Manufacturing International Corp, China’s biggest chipmaker, and it has taken various steps against Huawei Technologies Co and other companies: China and the United States have clashed over issues including trade, human rights, technology and the new coronavirus, which was first detected in China:

Chinas lawmakers have passed an ‘ Export-Control-Law ‘ allowing the government to act against abuse by other countries after US sanctions


Reuters Wire News, [Oct 18, 2020 at 09:19] https://t.me/reuters_news_agency/41217
The new Chinese law, passed on Saturday by the National People’s Congress Standing Committee, the country’s top legislative body, will take effect on Dec. 1, Xinhua said: Controlled items include military and nuclear products, as well as other goods, technologies and services and relevant data, according to a statement on the National People’s Congress website: It said the law was “formulated for the purpose of safeguarding national security and interests.”……..In August, China’s commerce ministry issued a revised list of technologies that are banned or restricted for export.

#AceFinanceDesk report ……………Published: Oct.18: 2020:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) #Coronavirus DWP UC Report: Ten ways #pandemic has changed Universal Credit and what it means for you and what people can claim: #AceFinanceDesk says ………If you need help and guidance in claiming just leave a comment and an email address thank you:

#AceFinanceReport – June.13: Editor says ……….Hundreds of thousands of people are believed to have applied for Universal Credit as a result of the ongoing pandemic: #Coronavirus has affected almost every aspect of our lives and it has changed Universal Credit in 10 major ways: Personal circumstances have continued to change as job losses and pay reductions become more common as the pandemic continues: Hundreds of thousands of people are believed to have turned to Universal Credit for financial support during the difficult times: The impact of lockdown has driven many to seek help from benefits to pay their bills and feed their families: There were 1.5 million claims for Universal Credit between March 13 and April 9, over six times more than in the same period last year and the most in a single month since the welfare scheme was first introduced in April 2013: Up to May 19, there have been 2.9 million applications for the benefit……………………….For those who are new to the system, or for existing recipients who are still getting Universal Credit during the coronavirus pandemic, these are the 10 ways coronavirus has affected the scheme and how it affects you……………..

If you need help and guidance on how to claim please let me know by leaving your email address in a comment and l will not print it but send you a reply via a chosen email address: Regards Editor.

Universal Credit Claimants could be entitled to further benefit support:

1. Making a claim:

The first thing is to check you are eligible. For instance, if you have £16,000 or more in savings, you can’t get Universal Credit.

Bear in mind that your partner’s income and savings will be taken into account, even if they are not eligible for Universal Credit and not intending to apply for it. Don’t take any steps towards applying before checking the criteria or you could irreversibly affect existing benefits such as tax credits.

Claims for Universal Credit are made on the internet. You have to set up an online account and you also need a bank, building society or credit union account.

In a bid to ease pressure on the system during the pandemic, the DWP says people making new claims will no longer need to make a phone call as part of the process. The department said its staff will ring up claimants if they need to check anything and will also message via the online process to confirm details.

The DWP says its calls may show on your phone as an 0800 number or an unknown or private number and urges people to check their online accounts so they know when to pick up such calls.

2. Jobcentre visits:

During the claim process, you no longer need to arrange a face-to-face appointment and you do not have to go along to the jobcentre. The DWP says people receiving benefits do not have to attend jobcentre appointments for three months from March 19 2020. If coronavirus restrictions continue, this could be extended.

Claimants will be contacted to discuss alternatives such as telephone or paper-based assessments. You will continue to receive benefits as normal, but all requirements to attend the jobcentre in person are suspended.

Don’t go to the jobcentre unless asked to do so “for an exceptional purpose”, the DWP said.

3. Temporary increase:

On March 20, 2020, the Chancellor announced a package of support for workers during the coronavirus pandemic. This included a £1,000 increase to the standard allowance for Universal Credit for one year.

It means the amount of Universal Credit went up twice – once in line with inflation as the benefits freeze came to an end, and then a further boost for the coronavirus increase.

Rates for Universal Credit are now as follows:

• Single and under 25 – £342.72

• Single and 25 or over – £409.89

• In a couple and both under 25 – £488.59 (for you both)

• In a couple and one of you is 25 or over – £594.04 (for you both)

But concerns have been raised about the £1,000 boost (about £90 a month) only being in place for 12 months.

Shadow work and pensions secretary Jonathan Reynolds said: “If the Government believes this level of support is necessary during lockdown, why do they believe people will need less money when the (lockdown) ends and the normal cost of living would apply? “Surely it is inconceivable that anyone still unemployed by March next year could see their benefits being cut?”

The DWP confirmed the one-year limit on the increase and has so far made no suggestion it could be maintained beyond then.

4. Looking for work:

Usually, going on to Universal Credit if you are unemployed means proving to the DWP you are still looking for a job. A formal agreement called a claimant commitment sets out what people are expected to do in return for benefits – and what happens if they fail to comply.

What is Universal Credit?

Universal Credit is a new benefits system that will eventually replace six seperate benefits.

They are:

• income support

• income-based jobseeker’s allowance

• income-related employment and support allowance

• housing benefit

• child tax credit

• working tax credit

Claimants will get one single payment to cover any and all of these benefits they are entitled to. Out of that single payment they will then have to cover their own costs directly, e.g. rent, rather than it being a deducted payment.

The brainchild of the Conservative Government, it is theoretically meant to make claiming benefits easier. But the policy has been bereft with problems since it started being rolled out across the country and has been blamed for pushing many vulnerable people into hardship and poverty.

Claimant commitments are normally agreed with a work coach when a person attends a local jobcentre and must be accepted in order to receive Universal Credit. However, because of the exceptional circumstances resulting from the coronavirus pandemic, people are not expected to accept claimant commitments before being entitled to Universal Credit.

In addition, requirements to prepare for work, search for work or be available for work are temporarily suspended. Most claims for Universal Credit begin on the date the claimant commitment is agreed but for applications received in the four weeks up to April 9, 2020, the date the claimant verifies their identity is taken as the start date.

5. Advance payments:

With more people going on to Universal Credit, there have been more requests for advance payments. This is like an upfront loan of the amount of your first expected UC payment and is repaid in instalments from future benefits.

From March 1 to May 19, 2020, there were 1,132,570 advance payments issued. Most were advances requested by new claimants but there has also been an increase in the number of advances given to those already on the benefit – these include budgeting advances to help people cover emergency expenses such as replacing a broken cooker.

You normally need to have been receiving Universal Credit for six months or more to qualify for a budgeting advance. In addition, you need to have earned less than £2,600 (£3,600 together for couples) in the past six months.

You can receive up to £348 if you’re single, £464 if you’re part of a couple or £812 if you have children.

The DWP runs a similar scheme called a budgeting loan for those on Income Support, income-based Jobseeker’s Allowance (JSA), income-related Employment and Support Allowance (ESA), or Pension Credit.

The DWP says repayments on these loans have been temporarily stopped because of the impact of coronavirus. Repayments won’t restart until July 2020 at the earliest.

6. Maximum deductions:

Money can be taken out of your benefits by the DWP to repay anything you owe to the department or to other organisations. This includes rent arrears and other debts.

The maximum amount that can be deducted used to be 30 per cent of your Universal Credit standard allowance. This was lowered to 25 per cent from April 6, 2020, meaning UC recipients get more money per month.

In addition, deductions to pay off debts to housing providers, energy firms, water suppliers or the council were temporarily halted when the DWP was dealing with a massive surge of benefit claims at the start of the pandemic. These third party deductions resumed from May 10.

7. Sanctions:

The DWP says that if you fail to do what you have agreed in your claimant commitment without good reason, your Universal Credit payments can be reduced for a set period. This is called a sanction.

These financial penalties can be applied for failing to attend jobcentre appointments, job interviews or training courses.

This became an issue when the coronavirus pandemic began to take hold.

The DWP confirmed that such punishments won’t be applied if you break the rules because of coronavirus – such as if you are self-isolating and can’t leave the house.

Therese Coffey, Secretary of State for Work and Pensions, said: “People will not be penalised for doing the right thing.

“I think it’s important that people do have that conversation with their work coach. As I’ve emphasised already, work coaches can exercise discretion but the important thing is that ongoing conversation which a claimant has with their work coach.”

8. Housing allowance:

Those on Universal Credit get money towards their housing costs included in their monthly payment.

Staff at the Government’s Valuation Office Agency set a Local Housing Allowance (LHA) which is used to work out how much is given to claimants renting from private landlords.

It’s based on average rents in the area where you’re living.

The Government increased the LHA from April when the benefit freeze came to an end.

People should now get more money towards their rent. It also means more rented properties are now affordable to tenants who need to move.

For instance, in Birmingham the LHA rose as follows from April 2020:

• Category A (tenant has exclusive use of one bedroom with shared use of other facilities) – increased from £57.34 to £67

• Category B (tenant has exclusive use of one bedroom with exclusive use of other facilities) – increased from £101.84 to £120.82

• Category C (tenant has use of two bedrooms) – increased from £127.62 to £143.84

• Category D (tenant has use of three bedrooms) – increased from £135.96 to £155.34

• Category E (tenant has use of four bedrooms) – increased from £173.41 to £195.62

9. Minimum income floor:

There was good news for self-employed people when the Minimum Income Floor was lifted. The MIF is an assumed level of income calculated by the DWP based on what it would expect an employed person to receive in similar circumstances.

It is used instead of a person’s actual earnings when working out how much Universal Credit they would get on top – even though self-employed people typically have income that goes up and down from month to month.

Chancellor Rishi Sunak confirmed in the March 2020 budget that the MIF would be temporarily suspended to help the economy during the coronavirus outbreak. He did not state how long this would be in place but did say it was part of a package of measures to tackle the impact of the epidemic.

So the benefits received by a self-employed person will be based on their actual earnings. Those whose income is a lot less during the coronavirus crisis – lower than the previous MIF that would have been applied – will see a rise in their Universal Credit.

10.Benefit cap

The benefit cap is a limit on the total amount of state help you can receive.

The benefit cap outside Greater London is:

• £384.62 per week (£20,000 a year) if you’re in a couple

• £384.62 per week (£20,000 a year) if you’re a single parent and your children live with you

• £257.69 per week (£13,400 a year) if you’re a single adult

The benefit cap inside Greater London is:

• £442.31 per week (£23,000 a year) if you’re in a couple

• £442.31 per week (£23,000 a year) if you’re a single parent and your children live with you

• £296.35 per week (£15,410 a year) if you’re a single adult

The DWP said: “For some of those new to the benefits system, who have been employed for the previous 12 months, the benefit cap won’t apply for a nine month period.”………………..You will get this nine month grace period if you are claiming Universal Credit because you stopped working or your earnings went down; if you are now earning less than £604 a month; or if, in each of the 12 months before your earnings went down or you stopped working, you earned the same as or more than the earnings threshold (this was £569 up to March 31, 2020 and is £604 from April 1, 2020)

#AceFinanceDesk report …………Published: June.13: 2020:

(LONDON) #Coronavirus GOVUK Charity Report: DOE Provides funding of £7-million to ‘ See Hear Respond ‘ a ‘ coalition of charities ‘ to provide help for vulnerable children and families during this #pandemic as part of this programme #AceFinanceDesk reports

#AceFinanceReport – June.08: A ‘coalition of charities’ will help vulnerable children most impacted by the coronavirus pandemic as part of a Department for Education programme: More than £7 million will fund the launch of the See, Hear, Respond service, to provide targeted help to vulnerable children, young people and their families affected by the virus and the measures put in place to stop its spread. The coalition, led by Barnardo’s will work alongside local authorities, schools and colleges, police forces, healthcare professionals and other vital services involved in protecting these children:

#Coronavirus Report: £7 million for new coalition of vulnerable children’s charities

Funding package for targeted help to young people and their families most affected by coronavirus

Department for Education

Funded by the Department for Education, the partnership will harness the role and reach of the charity sector: Barnardo’s will work in partnership with other national children’s charities as well as community-based organisations to provide solutions to the challenges facing children and families that may have been exacerbated by the unique circumstances of the coronavirus pandemic.

The launch of the programme comes as the Department for Education and Home Office prepare to open a new joint £7.6 million fund for national vulnerable children’s charities working in England and Wales on issues including child sexual abuse and child criminal exploitation: The money is aimed at those charities that have suffered financial harm as a result of the virus, helping them to stabilise and continue delivering for vulnerable children and young people.

Children and Families Minister Vicky Ford said:

We all have a collective responsibility to protect children and young people who face challenges in their home lives, or who may not have the same support network keeping them safe outside of school or college as their peers. Many of them may be at additional risk from abuse, neglect or exploitation during these unprecedented times.

By working with charities directly supporting these young people on the front line, we can expand their reach to provide a much wider safety net to those in need of mental health support, counselling or protection from people trying to exploit them, as well as helping to get them safely back into education.

Safeguarding Minister Victoria Atkins said:

As a government, we have acted decisively and adapted our response to prevent the exploitation of vulnerable children during this pandemic. I’m delighted we can provide further funding to frontline charities so those most at risk can get the help they need.

See, Hear, Respond will provide support online to children and families who are struggling, street-based youth work to identify and support children at risk of harm outside of the home, including exploitation, and help vulnerable children to successfully reintegrate back into school or college if they have not been attending during the pandemic.

The programme will focus on finding and reaching out to children around the country who are experiencing negative impacts on their health and wellbeing, as well as those at risk of harm.

This funding will provide:

  • Access to an online support package to children and families ensuring they have readily available, accessible and interactive information;
  • Online and telephone referral service by trained professionals who can source further help and support from charity workers within the partnership;
  • Online counselling or therapy for those experiencing high levels of anxiety, trauma or other mental health issues that can be safely addressed through digital means;
  • Youth interventions and face-to-face crisis support, particularly for those at risk of or experiencing various forms of exploitation, including criminal exploitation;

Barnardo’s Chief Executive Javed Khan said:

The coronavirus pandemic has meant that vulnerable children and young people are increasingly hidden from support services. With the support of the Department for Education, Barnardo’s will bring together a coalition of national and local charities working together to identify and support those who need support at this time of crisis.

This initiative is a vital lifeline for the thousands of children and young people as we navigate the coronavirus crisis and its aftermath, helping to improve their long-term outcomes so they can have successful futures.

The announcement builds on the Government’s Hidden Harms Summit, held virtually on Thursday 21 May, which focused on support for people at risk from domestic abuse, wider harms and exploitation, including children: Children may be facing additional risks during the pandemic, including being less visible to safeguarding professionals and isolated from normal support structures: At the same time, reports of domestic abuse have been rising, with the charity Refuge reporting increased visits to its website and calls to its helpline:

Harun Khan, Secretary General of the Muslim Council of Britain, said:

The pandemic has clearly exposed deep inequalities in our society, with many groups disproportionately impacted and needing extra support. Children in particular are at risk of being left behind and their needs not met. We’re pleased to be supporting Barnardo’s and the Department for Education to ensure every child that is at risk and needs additional support receives this, particularly those in marginalised groups which may fall through the net. It is imperative we all work together to make sure no child is left behind.

The project will aim to reach those children and families who are not in contact with children’s services, and the support provided to them will aim to prevent their needs escalating. The project will prioritise those most at risk of harm either inside or outside the home, including very young children and adolescents.

The Department for Education has also provided funding to other charities working with vulnerable children, including Grandparents Plus, Family Rights Group, FosterTalk, the Care Leavers Association, Become, Drive Forward Foundation and Adoption UK. This adds to investment in the NSPCC’s Childline, while some £10 million has already been committed to the Family Fund, helping families with children that have complex needs and disabilities through grants for equipment that makes their lives easier while implementing social distancing measures, including computers, specialist equipment and educational toys.

Steven Stockley, Managing Director of FosterTalk said:

The last three months has seen unprecedented times for all our families, and none more so than our foster families. Foster parents are incredibly adaptable but COVID-19 has seen additional stresses, anxieties and pressures impact on their family lives. This funding provides an important opportunity to improve both the retention and recruitment of foster parents by extending the Fosterline service to provide additional and specific crisis support.

Cathy Ashley, Chief Executive of Family Rights Group said:

The crisis monies are extremely welcome, funding us to provide specialist legal advice to an additional 900 parents and kinship carers whose children are in need, deemed at risk or are in the care system. And significantly, enabling us to work in partnership with the charity Become so we together can provide legal and child welfare advice and follow up support to young, care experienced parents in order to enable, wherever possible, their children to be able to live safely within their care.

Lucy Peake, Chief Executive of Grandparents Plus said:

We’re delighted to receive a grant to support kinship carers who have been hit hard by the coronavirus pandemic. They are older, poorer and in worse health than other groups raising children, so they are especially vulnerable. We will be extending our services to offer tailored advice and information, intensive one-to-one and peer support, and digital skills support so carers can get online. As the lockdown has progressed, new issues are emerging for kinship families. We’re delighted to be able to offer more of them the holistic and responsive support they need at this time.

The project will aim to reach those children and families who are not in contact with children’s services, and the support provided to them will aim to prevent their needs escalating: The project will prioritise those most at risk of harm either inside or outside the home, including very young children and adolescents: All funding is provided as part of the £750 million package of support committed to charities by the Chancellor. The application process for the £7.6 million Department for Education and Home Office fund for national vulnerable children’s charities will open shortly……………………..Additional funding of £125,000 will be delivered to Fosterline to deliver free-to-access and specialist one-to-one support to foster families, in recognition of the additional support needed at this time to keep foster families together:

#AceFinanceDesk report ………..Published: June.08: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) #Coronavirus ONS Unemployment Report: A measure of the number of people claiming unemployment benef its in Britain leapt to its highest level since 1996 in April, the first full month of the government ’s #coronavirus lockdown, data published on Tuesday showed #AceFinanceDesk report

#AceFinanceReport – May.19: “The claimant count rose by 856,500 — the biggest ever month-on-month jump — to 2.097 million, a 69% increase, the Office for National Statistics said.” The surge would have been even sharper without a government programme to pay 80% of the wages of workers put on temporary leave by their employers, who do not count towards the unemployment total:

#Coronavirus ONS Unemployment Report: Claimant count rose by 856,500 to 2,097-million in first month of lockdown according to data provided on Tuesday:

https://t.co/51lAgp5zcv

” The ONS said emergency changes to Britain’s welfare system meant the claimant count number included more people who were still actually in work than normal, but the scale of the rise in claims showed the hit to the labour market.”

“ While only covering the first weeks of restrictions, our figures show COVID-19 is having a major impact on the labour market,” ONS Deputy National Statistician Jonathan Athow said “

“A Reuters poll of economists had produced a median forecast for a leap of 676,500 in the claimant count, with forecasts ranging widely from just over 56,000 to as high as 1.5 million.”

Tej Parikh, chief economist at the Institute of Directors, said the government’s wage subsidy scheme was holding off some job losses for now but it was not clear how firms would react when they are required to help fund it from August.

““Many companies will still be in the middle of a cashflow crisis, and will struggle with any cost increases. Government faces an onerous task in winding down the scheme without causing too much pain,” he said.”

#AceFinanceDesk report ……………Published: May.19: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) DWP REPORT: As from today May.11: People who are paid benefits or their state pension will no longer be paid into a ‘ Post Office Account (POCA) ‘ and they will need to use a banking account due to the governments contract with post offices in November 2021 with several services being phased out: # PleaseShareAndCare #AceFinanceDesk reports

#AceFinanceReport – May.11: People who are paid benefits or their state pension into a Post Office account will need to get a new account, as the Department for Work and Pensions is stopping paying into them: The Post Office Card Account (POCA) was set up in 2003 to provide a “simple” banking facility for those without regular bank accounts: But the government’s contract with the Post Office ends in November 2021 and several services are being phased out:

Department for Work and Pensions

A massive 900,000 people use POCA to collect their payments, but for the past three years the DWP has been telling people to have their payments paid into a bank account instead, reported Express News:

Work and Pensions Secretary Thérèse Coffey told Parliament that the cost of the contract provided “poor value for taxpayers” given that most people using POCA already have a bank account – it’s cheaper for the DWP to pay money directly into bank accounts than to use the Post Office system: She said: “DWP will stop any new benefit and pension claimants from using the Post Office Card Account (POCA) from 11 May, as we prepare for the end of this contract: “Uptake of accounts in the last year has been exceptionally low but in any event, given that the vast majority of people using POCA we believe already have a bank account, the cost of the contract is poor value for taxpayers: “Current customers who currently receive payment through a Post Office card account will see no change and will continue to receive payment into their accounts for the remainder of the contract period: “We can use the HMG Payment Exception Service for people who cannot access any bank account.”

#AceFinanceDesk report …………Published: May.11: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) #Coronavirus Business Report: Institute of Fiscal Studies says that UK’s budget deficit is set to see “an absolutely colossal increase to a level not seen in peacetime”, the director Paul Johnson said these were figures before the storm but estimate them at a deficit £260-billion treasury proposes issuing £180-billion worth of government bonds, known as gilts, in the May-to-July period, more than originally intended in those months #AceFinanceDesk report

#AceFinanceReport – Apr.24: The Office for National Statistics, which released those figures, said they did not capture the big spending announced by the government to cope with the virus: The economic impact of coronavirus was likely to push the deficit to as high as £260-billion Paul Johnson told the BBC: He was speaking after latest figures showed that the deficit hit £48.7-billion in the 2019-20 financial year: But Mr Johnson said those figures were “the numbers before the storm”……..The deficit last year – the gap between the government’s income and its expenditure – was £9.3-billion higher than in the 2018-19 financial year and equivalent to 2.2% of GDP:

#Coronavirus Report: UK borrowing to see ‘colossal increase’ to fight virus during period May – July of £180-billion BBC Business reports

“The coronavirus (Covid-19) pandemic is expected to have a significant impact on the UK public sector finances,” it added: “These effects will arise from both the introduction of public health measures and from new government policies to support businesses and individuals.”…………………..The ONS said the full effects of coronavirus on the public finances would become clearer in the coming months.

Mr Johnson told the BBC’s Today programme that there was still “a huge amount of uncertainty” surrounding the economic impact of the virus: However, the government had announced tax cuts and spending increases worth £100-billion so the effect was “likely to dwarf the record that we saw during the financial crisis”.

Mr Johnson said the economy was unlikely to recover quickly afterwards and would remain “smaller than it otherwise would have been”. He added that tax rises and a growing deficit were the likely outcome: “I would be astonished if in a couple of years the economy was back where it would have been if it [the virus] had never happened,” he said: Meanwhile, a closely watched survey of UK businesses has indicated that the economic impact has been even worse than feared:

The IHS Markit/CIPS flash UK composite purchasing managers’ index (PMI), which measures activity in the services and manufacturing sectors, fell to a new record low of 12.9 in April, down from 36 in March: Any reading below 50 indicates contraction. Economists polled by Reuters had expected a figure of 31.4: “The dire survey readings will inevitably raise questions about the cost of the lockdown and how long current containment measures will last,” said Chris Williamson, chief business economist at IHS Markit, adding that the figures pointed to a quarter-on-quarter economic contraction of at least 7%.

In another development, the Treasury has announced that it is speeding up its plans to raise money in order to cover the cost of its coronavirus measures: It will now be issuing £180-billion worth of government bonds, known as gilts, in the May-to-July period, more than originally intended in those months: “The temporary and immediate nature of the unprecedented support announced for people and businesses means the government expects that a significantly higher proportion of total gilt sales in 2020-21 will take place in the first four months of the financial year, in order to meet the immediate financing needs resulting from Covid-19,” the Treasury said: “This higher volume of issuance is not expected to be required across the remainder of the financial year.”

#AceFinanceDesk report …………..Published: Apr.24: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(AUSTRALIA) #Coronavirus Business Report: #Facebook and #Google to be forced to share advertising revenue with media companies and mandatory code will be developed by ACCC to create a level playing field according to Josh Frydenberg #AceFinanceDesk report

#AceFinanceReport – Apr.21: Mandatory code being developed by ACCC will create ‘level playing field’ in media landscape, Josh Frydenberg says Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer, Josh Frydenberg, instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the #coronavirus #pandemic 

In its response to the landmark digital platforms inquiry in December, the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook: Read More Here: https://t.me/the_guardian_news/146779

The Guardian news, [Apr 19, 2020 at 18:50]
https://clck.ru/N4Jab 

#AceFinanceDesk report ………………..Published: Apr.21: 2020: 

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com 

(BEIJING, China.) #Coronavirus Business Report: Economy shrinks in March quarter for ‘ first time since records began ‘ with GDP falling by 6.8% Jan-Mar year on year official data showed on Friday and for 2020, economic growth is expected to stumble to 2.5%, its slowest annual pace in nearly half a century, a Reuters poll showed this week #AceFinanceDesk report

#AceFinanceReport – Apr.17: China’s economy shrank in the March quarter for the first time since current records began almost three decades ago, as the coronavirus shut down factories and shopping malls and put millions out of work: Gross domestic product (GDP) fell 6.8% in January-March year-on-year, official data showed on Friday, a slightly larger decline than the 6.5% forecast by analysts and reversing a 6% expansion in the fourth quarter of 2019: It was the first contraction in the world’s second-largest economy since at least 1992 when official quarterly GDP records started:

#Coronavirus Report: Economy crippled by #coronavirus, as China’s first-quarter GDP shrinks for first time on record ReutersBiz reports

Providing a silver lining was a much smaller-than-expected fall in factory production in March, suggesting tax and credit relief for virus-hit firms was helping restart parts of the economy shut down since February: However, analysts say Beijing faces an uphill battle to revive growth and stop massive job losses as the global spread of the virus devastates demand from major trading partners and as local consumption slumps: “First-quarter GDP data is still largely within expectations, reflecting the toll from the economic standstill when the whole society was on lockdown,” said Lu Zhengwei, Shanghai-based chief economist at Industrial Bank:

“Over the next phase, the lack of overall demand is of concern: Domestic demand has not fully recovered as consumption related to social gatherings is still banned while external demand is likely to be hammered as pandemic spreads.” On a quarter-on-quarter basis, GDP fell 9.8% in the first three months of the year, the National Bureau of Statistics said, just off expectations for a 9.9% contraction, and compared with 1.5% growth in the previous quarter.

Statistics bureau spokesman Mao Shengyong told a press briefing after the data that China’s economic performance in the second-quarter is expected to be much better than in the first: However, weaker domestic consumption, which has been the biggest growth driver, remains a concern, as incomes slow and the rest of the world falls into recession: Per capita disposable income, after adjusting for inflation, fell 3.9% from a year earlier in the first quarter, the data showed: “We are hesitant to think that this is just a one quarter event, Q2 will also likely be lower than expectation,” said Ben Luk, senior multi asset strategist at State Street Global Markets in Hong Kong: “To offset weakness in external demand, we will see some policy support later this month or early May.” Industrial output fell by a less-than-expected 1.1% in March from a year earlier. Highlighting the challenges in consumption, however, was a 15.8% fall in retail sales, which was larger than expected:

Of major concern for policymakers is social stability among its 1.4 billion citizens, millions of whom migrate from rural areas to cities to find work each year: The urban jobless rate fell to 5.9% in March from 6.2% in February, suggesting the pain in the labour market is yet to be reflected in official numbers: However, analysts warn of nearly 30 million job losses this year due to stuttering work resumptions and plunging global demand, outpacing the more than 20 million layoffs seen during the 2008-09 financial crisis.

China’s stability-obsessed leaders have pledged more steps to combat the slump but are mindful of the lessons learned in 2008-09 when massive stimulus saddled the economy with mountains of debt: Last month, the ruling Communist Party’s Politburo said it was considering measures such as more local government special bonds and special treasury bonds: “We expect Beijing to deliver a large stimulus package soon to combat the worst recession in decades, with most of the financing to be provided by the PBOC (People’s Bank of China),” Ting Lu, chief China economist at Nomura, said in a note.

The PBOC has already loosened monetary policy to help free up credit to the economy, but its easing so far has been less aggressive than during the global financial crisis: The government will also lean on fiscal stimulus to spur infrastructure investment and consumption, which could push the 2020 budget deficit to a record high: For 2020, China’s economic growth is expected to stumble to 2.5%, its slowest annual pace in nearly half a century, a Reuters poll showed this week……

#AceFinanceDesk report ……….Published: Apr.17: 2020: Reuters: Reporting by Lusha Zhang, Kevin Yao and Gabriel Crossley; Editing by Sam Holmes

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

Its time to choose ……BuSINness OR Lives ? Will our politicians and leaders do the right thing ? OR Will they choose the easy path for THEMSELVES as we enter the week of crucifixion this time its not Jesus but the world on trial

Editor says …….At this time in history God is giving us ALL a chance to do the right thing …But will we ?

AND what will leaders and politicians choose…….will it be to provide ALL that is is people NEED and not WANT or will they support their own ?

Are MARKETS more important than PEOPLE’S LIVES ……OR is it important to SUPPORT your chosen companies in which you have shares ?

Will the root of all EVIL outway the root to all GOOD ?

Its Easter and a time of GIVING but many thousands are in lockdown trying to do the right thing and support each other ……But will leaders and politicians choose to save the MANY who bleed loudest to will they help the weak, poor and in need ?

These questions are being answered daily and those that make them are being judged by God in their ❤️And in the END they will be either REWARDED for their CHARITABLE WORK OR God will judge them WANTING we shall see ?

Amen 🙏’s

Editor says Happy Easter and Be Safe this Time God Bless You and Yours

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#acefinancedesk

(LONDON) #Coronavirus Finance Report: British backed Virgin Atlantic Airways Ltd first applies to U.K. government to obtain backing but make sure he transfers his shares worth $1.1-billion in Virgin Galactic Holdings Inc a Delaware based company to the BVI Offshore Domain and pledge £250-million to support groups operations and now you qualify for help as a U.K. business paying tax #AceFinanceDesk report

#AceFinanceReport – Apr.06: Richard Branson moved assets from the U.S. to the British Virgin Islands, highlighting his use of tax havens at a time one of his businesses sought a state bailout because of the coronavirus pandemic: Filings show a Delaware-based company for his $1.1 billion stake in Virgin Galactic Holdings Inc. transferred shares in the space-travel firm on March 16 to the Caribbean territory where Branson, 69, lives: Residents in the BVI pay no income or capital-gains taxes while the U.S. state is known for preserving the privacy of its corporate owners: Virgin Galactic became the first publicly traded space-tourism firm last year after merging with a listed investment vehicle, and the Delaware holding company was set up for that transaction:

Branson Shifts $1.1 Billion Galactic Holding Between Tax Havens

Bloomberg.Com/ Reported April 5, 2020, 4:32 PM EDT

The move is unrelated to Branson’s request for British backing for Virgin Atlantic Airways Ltd., and many of his businesses do pay U.K. tax: He’s also pledged $250 million to support his group’s operations since transferring his shares in Virgin Galactic:

“This is as an internal reorganisation that has no effect on our ownership interest,” a representative for Branson said. “Rather than continuing to hold the shares indirectly, we undertook this exercise to eliminate indirect ownership through that subsidiary, as the U.S. entity was no longer necessary.”

#AceFinanceDesk report…………………Published: Please Read Full Report on Tax Avoidance Haven in Delaware Tx. And how companies use them to avoid taxation including transfer of tax ownership here: Telegram: https://t.me/acenewsdaily/216099 – Ace Daily News, [Apr 6, 2020 at 15:25] Delaware’s $1 Billion Incorporation Machine OR via Ace Worldwide News Group https://ift.tt/2xO8EMF

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

(LONDON) #Coronavirus Finance Report: Universal Credit ‘standard allowance’ – £323.22 a month for single people and £507.37 a month for couples – will be raised by £1,000 for the next 1 2 months, with working tax credits increased by the same amount as TUC general secretary Frances O’Grady sai d the announcement was a ‘breakthrough’, adding: “The Chancellor has shown real leadership #AceFinanceDesk r eport

#AceFinanceReport – Mar.22: Universal Credit is to be increased by £1,000 a year as the government announced ‘unprecedented’ emergency economic measures to deal with coronavirus: In a £7bn welfare support package, working tax credits and housing benefit will also be increased and claimant rules relaxed for the self-employed: Following criticism that the Chancellor’s £350bn bail-out earlier this week was focused on businesses but not on workers, he said the latest measures would help ‘four million of the most vulnerable households’ BBC News reports.

Universal credit, housing benefit and working tax credit to be hiked in £7bn coronavirus package

The measures, part of an ‘unprecedented’ economic bail-out, were welcomed by trade unions as ‘vital steps’ to protect working families

The Chancellor, left, announcing ‘unprecedented’ economic measures (Image: PA)

Alongside the rise in benefits payments, Rishi Sunak said the minimum income floor for the self employed would be scrapped so that they can claim Universal Credit: ”I’m strengthening the safety net for self-employed people too by suspending the minimum income floor for everyone affected by the economic impact of coronavirus,” he said.

”That means that self-employed people can now access, in full, Universal Credit at a rate equivalent to statutory sick pay for employees.”……The next statutory tax self-assessment would also be delayed until next January, he added.

Universal Credit ‘standard allowance’ – £323.22 a month for single people and £507.37 a month for couples – will be raised by £1,000 for the next 12 months, with working tax credits increased by the same amount: Housing benefit will now be set at 30pc of market rent………………But he warned: “I cannot promise you that no-one will face hardship in the weeks ahead.”

The welfare package comes alongside a new programme called the ‘Covid Job Retention Scheme’ which will see the government pay 80pc of retained workers’ wages up to a maximum of £2,500 a month: “I have a responsibility to make sure that we protect, as far as possible, people’s jobs and incomes,” said the Chancellor……..”Today I can announce that in the first time of our history, the Government is going to step in and help pay people’s wages…………..”We’re setting up a new coronavirus job retention scheme. Any employer in the country small or large, charitable or non-profit, will be eligible for the scheme.

“Employers will be able to contact HMRC for a grant to cover most of the wages of people who are not working but are furloughed and kept on payroll rather than being laid off: “Government grants will cover 80pc of the salary of retained workers up to a total of £2,500 a month – that’s just above the median income.”

TUC general secretary Frances O’Grady said the announcement was a ‘breakthrough’, adding: “The Chancellor has shown real leadership. We’re glad he has listened to unions and taken vital steps to support working families: “Large-scale wage subsidies are the best way to boost household finances and keep businesses running, and they’ll help our economy bounce back after this crisis.

“Employers across the economy can now be confident that they will be able to pay their wage bills: They must urgently reassure their staff that their jobs and livelihoods are safe.”

Mr Sunak said the shock to the UK economy caused by coronavirus was unlike any other, calling his package ‘unprecedented’ measures ‘for unprecedented times’..…………..His move came as businesses had already begun to shed workers this week – particularly in the leisure industry, following advice to avoid venues – and fears had been escalating that people would be left with no financial safety net at all……..Mr Sunak said the response will be ‘one of the most comprehensive in the world’……He added: “To all those at home, right now anxious about the days ahead, I say you will not face this alone.”

#AceFinanceDesk report …………..Published: Mar.22: 2020:

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#coronavirus

(LONDON) #BrexitNext E.U Trade Deal Statement & Report: Britain said on Thursday it wants “legally binding” obligations on access to the European Union financial market coupled with arrangements for maintaining trust as rules evolve and a level playing field or they will walk away in June #AceFinanceDesk re ports

#AceFinanceReport – Feb.27: London, Europe’s biggest financial centre, faces being locked out of its biggest export market for services like banking, insurance and asset management if there is no access to the EU from next January: A trade deal with the bloc should provide a “predictable, transparent and business-friendly environment” for cross-border financial services activities, Britain said in its mandate for trade talks with Brussels.

Britain calls for ‘binding’ obligations on EU financial market access

“The agreement should include legally binding obligations on market access and fair competition,” the document said: The EU has only spoken of “voluntary” cooperation in financial regulation.

The financial sector has said that the EU system of market access, known as equivalence, is opaque, and access can be withdrawn in 30 days, making it unreliable: Britain says it wants arrangements to allow regulators on both sides to cooperate and build “enduring” that can deal with rules as they “evolve”. 

#AceFinanceDesk report ……….Published: Read Full Hansard Statement and Trade Deal Report Here: Telegram: https://t.me/acebreakingnews/1587585 #Breaking144 Contracts & Markets News, [Feb 27, 2020 at 17:06] The Minister of State, Cabinet Office (Lord True) (Con) 11.37 am Statement My Lords, with the leave of the House OR via Ace U.K. Finance & Contract News https://ift.tt/2Vru5gh

Editor says #AceNewsDesk reports are provided at https://t.me/acenewsdaily and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com