Stock Markets Fall Sharply On New Covid Variant Shock

Money Tips Daily by Charles Kelly, former IFA and author of

Stock markets fell sharply across the world after the discovery of a new Covid variant which threatens the economic recovery as more restrictions are introduced.

London’s the FTSE 100 share index dropped by nearly 3%, while markets in Germany and France also declined following falls in Asia.

40 Year Fixed Rate Mortgage Launched

Kensington Mortgages launched a mortgage product with a rate that can be fixed for up to 40 years.

First-time-buyers in major UK cities like London may be forced to borrow more than 5 times the average salary to get on the housing ladder, as the affordability ratio soars.

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Food Prices Will Rise

A global shortage of fertilisers is driving up food prices and leaving poorer countries facing crisis, says the boss of a major fertiliser firm, the BBC reports.

UK Car Industry Suffers Worst October In 65 Years

UK car production dropped by more than 40% last month to the lowest level recorded for October since 1956.

Net Migration To The UK Falls By 88% As Asylum Claims Reach 20-Year High

The UK recorded a major fall in net migration last year as figures show a huge reduction in the number of people arriving due to the Covid-19 pandemic and Brexit.

Net migration in the UK was 34,000 in 2020, compared with 217,000 the year before, analysis showed. The number of immigrants coming to the country more than halved to an estimated 268,000 in 2020, compared with 592,000 people the previous year.

27 migrants die in Channel as boat overturns off the coast of France

The migrant crisis continues as thousands of people enter the UK illegally despite this week’s tragedy. Asylum applications to the UK have reached their highest level since 2004, according to official estimates.

India to Ban Cryptocurrencies

As a number of major economies plan to launch digital currencies, India is set to follow China in banning Cryptocurrencies.

The ban will relate to all private cryptocurrencies with certain exceptions to allow the promotion of the underlying technology and its uses. Cryptocurrency prices dropped on Indian exchanges after the decision on the bill's future was announced.

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