Traders at a stock brokerage firm in London. Reuters
Britain said it is ramping up preparations for a no-deal Brexit by spending an extra 2.1 billion pounds ($2.6 billion) to stockpile medicines, hire more border officials and fund one of the biggest peacetime advertising campaigns.
World stocks touched record highs on Friday, as trading wound down before the year-end holidays, while the British pound was heading towards its worst week for more than two years amid renewed worries over how Britain will leave the European Union.
Britain’s Brexit crisis tipped the country’s construction industry into its sharpest fall in a decade in June, a survey showed, in a stark sign of how quickly the world’s fifth-biggest economy is slowing.
The US economy grew at a record pace in the third quarter as the government injected more than $3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal.
Aircraft manufacturers are hit by the devastating impact of the coronavirus pandemic on the aviation industry. The number of global commercial aircraft orders was zero during the month of September.
Peugeot manufacturer PSA Group returned to revenue growth in its core autos division in the third quarter, recovering from a slump during coronavirus lockdowns, though the prospect of new restrictions hit French shares.
The Bank of Japan (BOJ) trimmed its economic growth and inflation forecasts for the current fiscal year (2020-21) on Thursday but offered a more upbeat view on the recovery outlook, signalling that it has delivered enough stimulus for the time being.