Despite the pandemic disruption, the UK has No Time to Die. In Q1, Cineworld reported a loss of $3 billion, but this week shares in the FTSE 250 company rose by 8½p, or 11.9 per cent, to 80p, their highest price since early July. Besides, it is not only entertainment that brings good news about the UK economy.
Rolls-Royce has shown more signs of recovery from the pandemic than any other industrial UK business. The company recently stroke a deal to sell its Spanish business for €1.7 billion and won a crucial contract with the US air force.
Earlier in September, RR unveiled the electric plane called the Spirit of Innovation propelled by a powerful 400kW (500+hp) electric powertrain with the most power-dense battery pack ever assembled for an aircraft. It is taking the company into the new sector of the aerospace market — regional jets and urban air mobility.
Marking achievements, the shares in the aero-engine maker are up 10 per cent or 13.2p to 145.70p, to their highest level since March 2020.
Although the V-shaped recovery of the UK FTSE 100 was not so “v” comparing to the US S&P, it still delivered 80% of expected and grew. The slow recovery rate has a reason since FTSE 100 relies on traditional stocks instead of the tech-powered S&P 500 index.
ONS reported on the impact of the coronavirus (COVID-19) pandemic and other events on UK businesses and the economy. Their report gives a good picture of how resilient is the national economy.
- In September, more than half of companies (57%) expect above 75% of the workforce to return to their regular place of work.
- 50% of businesses within the other service activities industry reported a decrease in turnover compared with typical expectations for this time of year.
- Daily road traffic activity restored to the February 2020 level.
- Companies incorporations in September are up 5% comparing to the beginning of the year, and companies voluntary dissolutions are down 9%.
More data with datasets is available on the official website.
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