Gold Holds Near One-week High

UK Budget Deficit At Second Highest November Level On Record

The UK budget deficit widened to its second-highest level for the month of November since records began in 1993, largely due to the surge in the debt cost, the Office for National Statistics said on Tuesday.

Public sector net borrowing totaled GBP 17.4 billion in November, down by GBP 4.9 billion from the same period last year. This was also bigger than the economists’ forecast of GBP 16 billion.

Current receipts grew 4.3 percent on a yearly basis, while the expenditure decreased 6.9 percent.

In the financial year-to-November, the budget deficit decreased by GBP 115.8 billion from the last year to GBP 136.0 billion. This was also the second-highest financial year-to-November borrowing on record.

During the financial year to November, interest payments increased sharply by 54.1 percent on a yearly basis.

At the end of November, public sector net debt excluding public sector banks came in at GBP 2,317.7 billion, or around 96.1 percent of gross domestic product. This was the highest ratio since March 1963.

Further, data showed that central government net cash requirement was GBP 13.1 billion in November, a GBP 10.9 billion less than in November 2020.

Tighter virus restrictions would probably prompt deterioration in the public finances by reducing tax revenues and potentially forcing the government to step up fiscal support for the most affected sectors, Bethany Beckett, an economist at Capital Economics, said.

Cold Weather Payments triggered: 15 postcodes now due £25

BBC Weather warns of showers and cold weather across Europe

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

It has been a chilly Christmas for many as temperatures in these postcodes dived below zero degrees between 21 and 27 December. Two weather stations have detected the dropping temperatures for Aviemore and Braemar Scotland.

The postcodes that have been triggered in this last week are:
















Supriya Lifescience shares list at over 55% premium

The stock listed at ₹425, reflecting a jump of 55.10% against the issue price on the BSE.

Shares of Supriya Lifescience Ltd on Tuesday listed at a premium of over 55% against its issue price of ₹274.

The stock listed at ₹425, reflecting a jump of 55.10% against the issue price on the BSE.

On the NSE, it made its debut at ₹421, a premium of 53.64%.

In traded volume terms, 7.30 lakh shares were traded at the BSE and over 1.12 crore shares at the NSE during the early trade.

The initial public offer of Supriya Lifescience Limited was subscribed 71.51 times earlier this month.

The IPO had a fresh issue of up to ₹200 crore and an offer for sale of up to ₹500 crore. It had a price range of ₹265-274 per share.

Supriya Lifescience is one of the key Indian manufacturers and suppliers of active pharmaceutical ingredients, with a focus on research and development.

Shinsei Bank announces restart of share buybacks after Sept halt

FILE PHOTO: A woman walks past a logo of the Shinsei Bank at its branch in Yokohama, south of Tokyo, June 23, 2010. REUTERS/Issei Kato

TOKYO (Reuters) – Shinsei Bank announced on Tuesday that they will restart share buybacks worth up to 20 billion yen ($174 million)that were suspended in September.

Shinsei Bank temporarily suspended the buybacks because a tender offer by SBI Holdings had changed the pricing process of its shares.

SBI Holdings took effective control of mid-size lender Shinsei in a tender offer this month.

($1 = 114.8700 yen)

Singapore-based BOC Aviation delivers last 8 Airbus A320Neo aircraft to IndiGo

The agreement between BOC Aviation Limited and InterGlobe Aviation Ltd. (IndiGo) for eight new Airbus A320NEO aircraft was signed in March

Singapore-based global aircraft leasing company BOC Aviation Limited has delivered the last of eight Airbus A320NEO aircraft to IndiGo, India’s largest passenger airline, under a purchase-and-leaseback agreement.

The agreement between BOC Aviation Limited and InterGlobe Aviation Ltd. (IndiGo) for eight new Airbus A320NEO aircraft was signed in March.

The aircraft is powered by CFM Leap engines, the aircraft leasing company said in a statement on Monday.

Steven Townend, deputy managing director and chief financial officer of BOC Aviation said, “The delivery of these eight aircraft reflects the strong cooperation that we have established with IndiGo, India’s largest passenger airline.” “We look forward to building on our relationships with major airline partners such as IndiGo, as we continue to support our airline customers in financing their aircraft deliveries,” Mr. Townend added.

Gold Holds Near One-week High

Gold prices held firm near one-week high on Tuesday and the dollar was little changed as investors assessed risks to global economic growth from rising cases of the Omicron coronavirus variant.

Spot gold edged up 0.2 percent to $1,815.53 per ounce, maintaining above the key $1,800 level reached last week. U.S. gold futures were up 0.4 percent at $1,816.65.

Risk sentiment has risen in financial markets amid optimism that the Omicron coronavirus variant is unlikely to derail global economic growth.

The governments in France and Britain resisted imposing lockdowns despite high infection rates.

France announced restrictions on large gatherings and ordered citizens to work from home for at least three days a week from January 3.

U.K. Health Secretary Sajid Javid said that the government will not impose additional restrictions in England before the New Year.

Elsewhere, the People’s Bank of China injected 200 billion yuan into the financial system via a seven-day reverse repurchase agreements to ease liquidity constraints.

In economic releases, U.S. FHFA’s house price index and S&P/Case-Shiller home price index for October will be out in the New York session.