Wed. Sep 30th, 2020

Britain runs up biggest October budget deficit in five years – business live

12.42pm GMT

Here’s a bit of good news. Hays Travel, the new owner of the collapsed Thomas Cook travel agencies, is hiring almost 1,500 new staff – in a vote of confidence in the future of the package holiday industry.

Related: Thomas Cook’s buyer hires 1,500 extra staff in boost for package holiday sector

Related: Royal Mail share price tumbles over delay in shake-up plan

12.31pm GMT

Meanwhile, the European Commission expressed its concern about the lack of fiscal efforts to reduce public debt levels in France, Italy, Spain and Belgium. Ordonez says:

While clarification on their 2020 budget plans were asked from these countries, we don’t think the EC will start an arm wrestle for more austerity as there are increasing calls for a more active fiscal policy across the bloc. Indeed, the Commission called once again member states with fiscal space – notably Germany and the Netherlands – to engage in a more supportive fiscal policy.

Continue reading…UK public borrowing surges to £11.2bn, as OECD warns on slower UK growth next yearThink tank also predicts lowest global growth since financial crisisLabour to slap £11bn tax on oil and gas firms to fund green planStock markets fall amid worries over delay to US-China trade deal, despite a pledge from Beijing that it will try hard to reach a trade deal 12.42pm GMTHere’s a bit of good news. Hays Travel, the new owner of the collapsed Thomas Cook travel agencies, is hiring almost 1,500 new staff – in a vote of confidence in the future of the package holiday industry. Related: Thomas Cook’s buyer hires 1,500 extra staff in boost for package holiday sector Related: Royal Mail share price tumbles over delay in shake-up plan 12.31pm GMTMeanwhile, the European Commission expressed its concern about the lack of fiscal efforts to reduce public debt levels in France, Italy, Spain and Belgium. Ordonez says:While clarification on their 2020 budget plans were asked from these countries, we don’t think the EC will start an arm wrestle for more austerity as there are increasing calls for a more active fiscal policy across the bloc. Indeed, the Commission called once again member states with fiscal space – notably Germany and the Netherlands – to engage in a more supportive fiscal policy. Continue reading…