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Hot Off The Wires - 25th June 2021

News


  • Inflation will rise above 3% this year but the unexpected surge will prove ‘transitory’, the Bank of England warned as Rishi Sunak played down concerns about rising prices.

  • Joe Biden has secured a deal on an infrastructure package worth about $1tn that would allocate billions of dollars to upgrade roads, bridges and broadband networks over the next eight years.

  • Booming Covid debts, a relaxed attitude to heavy borrowing and a complacent view that interest rates will never rise risk leading the world into a new economic crisis, according to new analysis by Deutsche Bank.

  • JP Morgan Chase has urged its US staff to get vaccinated ahead of a planned return to the office next month, and left the door open to making the jab mandatory.

  • European leaders clashed over a Franco-German initiative for an EU summit with Russian president Vladimir Putin, as critics warned against ‘free concessions’ at a time of worsening relations with the Kremlin.

  • Ministers have sought to rescue the summer holiday season by easing travel restrictions for a number of tourist hotspots, amid a cabinet rift over plans to grant extra freedoms to people who have received both doses of their Covid vaccine.


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