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News: BBC News: Economy

Government borrowing eases in May
Despite a fall, borrowing was still the second-highest on record for May as Covid spending continues.

UK starts talks to join Asia-Pacific free trade pact
Membership would lower tariffs on exporting goods such as cars and whisky, the government says.

China tells banks to stop supporting cryptocurrency
The latest crackdown on cryptocurrency comes days after China stopped Bitcoin mining in Sichuan province.

Online shopping boom drives rush for warehouse space
The logistics industry has been building at breakneck speed, but we still haven't reached "peak shed".

Retail sales fall in May as shoppers dine out
The reopening of hospitality firms saw food sales drop, but people spent money on outdoor furniture.

UK food and drink exports to the EU almost halve in first quarter
The pandemic and Brexit hit exports in the first three months of the year, says the Food and Drink Federation.

Meat sector warns of Brexit production squeeze
UK faces shortage of home-reared chickens as EU workers stay away, says trade group.

Scotch whisky tariffs suspended in UK-US trade deal
A deal between the UK and US means tariffs on goods such as Scotch whisky will be suspended for five years.

Federal Reserve warns US economy path depends on virus
The US central bank brought forward its projection for an interest rate hike into 2023 on Wednesday.

World Bank rejects El Salvador request for Bitcoin help
This month the country announced plans to become the first nation to make the cryptocurrency legal tender.

Clothes and fuel costs push UK inflation to two-year high
The rising cost of fuel and clothes pushes the inflation rate above the Bank of England's 2% target.

Boeing-Airbus trade row set to end after 17 years
The agreement, after 17 years, means taxes on $11.5bn of goods will be removed for five years.

Record rise in workers on payrolls in May
The number of people in payrolled jobs jumped by almost 200,000 in May as the jobs market continued to recover.

Australia trade deal will not hit UK farmers, says Liz Truss
The trade secretary denies Australian beef imports will flood the UK and says export markets will grow.

We're in serious trouble, says hospitality industry
One nightclub owner has been closed since March last year and now has to cancel a full diary of events planned over the next few weeks.

Serco in new boost to profits from coronavirus services
Outsourcer says profits will outperform amid high continuing demand for coronavirus services.

Disruption to shipping could delay Christmas orders
Global transport of goods has suffered blockages, delays and bottlenecks and won't be resolved quickly.

Can mining save Cornwall's economy?
As world leaders gather there for the G7 meeting, one of the UK's poorest regions is at a crossroads.

Providing jobs for young people in Brazil
How Brazil's "Favela LinkedIn" and "Street Presidents" schemes are providing jobs for young people.

Street markets: Can councils get redevelopment right?
How the contribution markets make to communities risks being ignored in urban regeneration schemes.

Mezcal producers hope to toast brighter future
Makers of the Mexican spirit mezcal have had a tough lockdown, but hope to see sales rise again.

President Biden's claims on the US economy fact-checked
The president is hailing his economic progress since he came to office. We look at some of his claims.

The student loan bubble 'is going to burst'
Cancelling student debt was once a fringe idea in the US, but it's become increasingly mainstream.

Mother-daughter relationship turned upside down by Covid
Margaret and Cordelia have seen a reversal in their financial relationship due to the pandemic.

'Over 50 and overlooked for work'
Suzi Ludlow, 67, from Horsham was made redundant in October and hasn't found a job since.

Brexit: What trade deals has the UK done so far?
The UK has reached an agreement with Australia - but what other deals have already been made?

Joe Biden: The team he hopes can fix the US economy
The new US president has called on a team of Ivy League-trained economists and lawyers to "heal" the economy.

What are negative interest rates?
The Bank of England tells lenders to prepare for sub-zero rates, so what does this mean for households?

Nightclub 'facing extinction' after lockdown easing delay
Luca Maggiora, the owner of London’s Cuckoo Club says the pandemic forced him into £700k of debt.

Coronavirus: Can countries pay back pandemic debt?
Countries around the world have borrowed staggering amounts to deal with the pandemic. But where does a government borrow that money from - and can it ever be paid back?

Why Covid has made it harder for young women to get jobs
More than 600 million people aged 15-24 are thought to be unemployed, with women most affected.

Young Thai workers race to reopen deserted beaches
Workers in Thailand's Covid-hit tourism industry talk about their hopes and fears for the future.

Greek islands aim to go 'Covid-free' to welcome back tourists
Milos is among those aiming to become "Covid-free" by vaccinating all residents and workers.

Shopping centres face demolition after Covid
Covid has worsened the crisis for shopping centres; what can be done with the spaces?

 
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