peter_IFAMAG reads Twitter so you don’t have to.
New data from the OBR reveals the UK’s economic recovery has been ‘disappointing’. However the big news today is that the UK government announced a phase-out Huawei technology from our 5G network must happen by 2027. Finally, Dennis Hall weighs in on FCA regulation and people trapped in expensive mortgages.
Firstly, Ben Chu shares new OBR data on ‘disappointing’ economic recovery.
https://twitter.com/BenChu_/status/1282955515241410561
The FT has started a recovery tracker, while Chris Giles states ‘May was an age ago’.
GDP recovered 1.8 per cent in May but the UK economy was still roughly 25% smaller than in February.
But May was an age ago.
This new @FinancialTimes UK data dashboard shows the latest trends.
It will be continuously updated
— Chris Giles (@ChrisGiles_) July 14, 2020
The UK’s decision to halt Huawei’s involvement in our 5G network has considerable international implications.
https://twitter.com/lukemcgee/status/1283005923305443329
Peter Mandelson wrote a piece on the topic.
https://twitter.com/PickardJE/status/1283008068394024961
NIESR shares their paper on the economic relationship between the UK and China.
A few points worth highlighting: China’s remarkable #growth has transformed the global pattern of world production, #trade and #investment, and has caused large changes in the industrial structures of North #America, #Europe (including the UK) and #Japan pic.twitter.com/3UNdZ1EO1Q
— National Institute of Economic and Social Research (@NIESRorg) July 14, 2020
In other news Joe Weisenthal makes a comparison between the Tesla stock rally and the 2017 crypto-currency bubble.
THIS IS ONE WAY TESLA REMINDS ME OF THE BITCOIN BUBBLE
In today's @markets newsletter, I wrote about one way what's going on with electric vehicle stocks reminds me of crypto in December 2017 https://t.co/SGYPi9Pkyq $TSLA pic.twitter.com/dUHECcvE8B
— Joe Weisenthal (@TheStalwart) July 14, 2020
And finally, Dennis Hall comments on people trapped in expensive mortgages and the role of the FCA.
Line from the @BBCNews piece about people trapped in expensive mortgages sums up type of "unintended consequence" of @TheFCA (and previously FSA) rules and regulations over the years. Protecting or failing consumers?
The rules, in other words, say they can't afford to pay less.
— Yellowtail Financial Planning (@YellowtailFP) July 13, 2020
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