peter_IFAMAG reads Twitter so you don’t have to.
Today a Scottish Widows survey reveals many UK workers have no retirement plan, particularly in the sectors worst hit by Covid. The US looks to recovery but whilst the S&P 500 soars to new highs the US energy sector struggles to get moving. Monzo cut costs as they discontinue unused overdrafts.
Josephine Cumbo shares new survey data and her analysis in this thread below.
Workers in UK sectors hard-hit by Coronavirus may never be able to afford to retire, according to grim analysis by Scottish Widows.
Around 11,000 jobs have been cut by UK retail and aviation firms with accommodation and restaurant businesses contracting by an estimated 85%.
— Josephine Cumbo (@JosephineCumbo) July 3, 2020
Myles McCormick takes a look at the faltering US energy indusrty.
US oil & gas still haemorrhaging jobs as the rest of the economy cranks back into gear
“The industry is still very much in a batten-down-the hatches kind of survival mode”
Took a look at what the latest jobs numbers say about the state of play in energyhttps://t.co/893HTQklma
— Myles McCormick (@mylesmccormick_) July 3, 2020
Following yesterday’s Monzo story it is interesting to see the payment group cutting costs.
More cost cutting at Monzo. (Unused overdrafts are inefficient for banks as they have to cold capital against them.) https://t.co/FH2Hnw7Hgp
— James Hurley (@jameshurley) July 2, 2020
SBI acquires minority stake in Innovative Finance member, B2C2 Group.
Ben Chu co-signs article on the economic importance of Hong Kong to mainland China.
And finally, UK government confirms £500m to replace EU Galileo medium orbit system.
Government confirms £500m purchase out of bankruptcy of network of low earth orbit satellites in conjunction with Indian mobile phone company Airtel, in an attempt to replace its participation in the EU Galileo medium orbit system, after Brexit https://t.co/2eYOouqBYl
— Faisal Islam (@faisalislam) July 3, 2020
What are your thoughts on these tweets?
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