The mood – Grounded

Published on 16-09-2020 13:00:00

Boris Johnson’s Operation Moonshot COVID-19 testing plan can be achieved, according to a Chinese company which has developed a new 30-minute test for the virus.

However, the FTSE 100 is grounded today, waiting for confirmation from the Federal Reserve that US interest rates are unlikely to increase until 2024.

Other indicators are also scraping along the bottom, with the government’s Eat Out to Help Out scheme helping push UK inflation to a five-year low and the dollar hitting a 16-month low against China’s yuan.

The Queen looks like losing one of her dominions, while a Deutsche Bank strategist says we have entered a new global age of disorder as disenfranchised Millennials push for control.

The BBC’s finances face being stranded, with 250,000 fewer people paying for a TV licence, while Japan’s Hitachi looks to be pulling the plug on its Anglesey nuclear power station project. In housebuilding, the lockdown ground down Redrow’s revenues by 37%.

Nevertheless, some others are indeed still shooting for the moon with new beginnings. Trump says there’s going to be peace in the Middle East, while Melania’s fire-damaged wooden statue has been replaced by a new metal one.

While Kim Kardashian West is joining the Facebook and Instagram boycott, Thomas Cook is being reborn online. Software group Snowflake and e-commerce company The Hut Group are making starry stock market debuts. And Edison client BioPharma Credit has made investments of $236m over the past six months.

Finland’s Klarna is now Europe’s biggest privately owned fintech company, valued at $10.6bn, while Sweden has hit a world record in cashlessness.

Jeffrey could be chosen by a Canadian city looking to change its name from Asbestos. And at last there is evidence that monkeys know how to take selfies on camera phones.

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