Heathrow CEO warns of jobs ‘cliff edge’, UK GDP rebounds, and stocks cautious



a man and a woman holding a sign: Passengers Charlotte and Frank, arrive at Heathrow Airport as they return from Mykonos in Greece, after the British Government added the island to the coronavirus quarantine list, at Heathrow, London, Tuesday Sept. 8, 2020. From early Wednesday, people arriving from several Greek islands will need to self-isolate for 14-days, but mainland Greece will maintain its quarantine-exemption, according to Britain's Transport Secretary Grant Shapps, who said that England is to start applying a regional approach to its coronavirus quarantine policy. (Yui Mok/PA via AP)


Passengers Charlotte and Frank, arrive at Heathrow Airport as they return from Mykonos in Greece, after the British Government added the island to the coronavirus quarantine list, at Heathrow, London, Tuesday Sept. 8, 2020. From early Wednesday, people arriving from several Greek islands will need to self-isolate for 14-days, but mainland Greece will maintain its quarantine-exemption, according to Britain’s Transport Secretary Grant Shapps, who said that England is to start applying a regional approach to its coronavirus quarantine policy. (Yui Mok/PA via AP)

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

Heathrow CEO warns of jobs ‘cliff edge’

The chief executive of Heathrow has warned that thousands of jobs could be lost when the government’s furlough scheme comes to an end next month.

“Furlough is going to be a cliff edge when that comes to an end at

Read More

Goldman Sachs upgrades third-quarter US GDP forecast to 35% after stronger-than-expected August jobs report



Richard Drew/AP


© Richard Drew/AP
Richard Drew/AP

  • Goldman Sachs is predicting US Q3 GDP to be 35% due to a better than expected August jobs report. 
  • The bank said in a note on Thursday: “We upgraded our near-term growth forecasts based on the much stronger-than-expected August jobs report and the solid summer data more generally.”
  • The US added 1.37 million jobs in August, higher than an expected addition of 1.35 million jobs.
  • The bank said data is pointing to higher real spending in August, another factor prompting its GDP upgrade. 
  • Bloomberg economists are expecting US GDP to be 21% in Q3. 
  • Visit Business Insider’s homepage for more stories.

Goldman Sachs has upgraded its forecasts for the US economy and now expects GDP to reach 35% in the third quarter of the year, making it by far the most bullish bank on Wall Street. 

Loading...

Load Error

Goldman said in a note on Thursday

Read More

Biden drilling ban would cost 1M jobs and cause $700B drop in GDP: Industry study

Joe Biden’s pledge to block oil and gas drilling on federal lands and waters would force the United States to rely more on foreign energy sources, cost nearly 1 million jobs by 2022, and cause carbon emissions to increase by prompting a rebound in coal.



a man standing in front of a large ship in a body of water


© Provided by Washington Examiner


That’s according to a study Wednesday from the American Petroleum Institute, the oil and gas industry’s largest trade group.

Loading...

Load Error

The study does not name Biden, but the Democratic nominee has consistently pledged to ban new federal oil and gas leasing and development on public lands and waters.

It’s one of the centerpieces of his agenda to tackle climate change.

API’s study, prepared by the energy consulting firm OnLocation, finds a federal drilling ban would cause U.S. GDP to fall by a cumulative $700 billion through 2030. U.S. oil imports would increase by 2 million barrels a day, while

Read More