LONDON, Oct 13 (Reuters)Britain’s debt mountain is likely to rise and hold above 100% of gross domestic product for at least the next few years but Prime Minister Boris Johnson should be in no rush to tackle it with tax hikes, a think tank said.

Public borrowing in 2020 will hit a level unseen outside the two world wars, thanks to the government’s 200 billion-pound ($260 billion) coronavirus spending surge and a 95 billion-pound hole in tax revenues, the Institute for Fiscal Studies said.

Britain’s public debt pile has already hit 2 trillion pounds, or just over 100% of gross domestic product.

The IFS said it was likely to stand at 110% of GDP in the 2024-25 financial year, the end of its forecast period.

“Without action, debt – already at its highest level in more than half a century – would carry on rising,” IFS director Paul Johnson said. “Tax rises, and big ones, look all but inevitable, though likely not until the middle years of this decade.”

Just to keep debt at 100% of national income, the government would need to raise taxes – or cut spending – by about 2% of national income in 2024/25, or 40 billion pounds.

The world’s sixth-biggest economy has weaker growth prospects than some of its peers because of the large share of jobs hit hardest by the pandemic and the drag from Brexit, according to analysts at bank Citi who worked with the IFS.

At the same time, demands for higher spending on healthcare are unlikely to fade.

Finance minister Rishi Sunak ripped up the economic orthodoxy of his Conservative Party by unleashing a wave of public spending at the onset of the pandemic.

He says his priority remains to slow rising job losses although he has replaced his

PORTLAND, Ore., Oct. 12, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Car Finance Market by Distribution Channel (Banks, OEMs, Credit Unions, and Others), Vehicle Age (New Vehicles and Used Vehicles), Application (Personal and Commercial), and Purpose (Loans and Lease): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global car finances industry was pegged at $1.29 billion in 2019, and is expected to hit $2.33 billion by 2027, registering a CAGR of 14.3% from 2020 to 2027.

Drivers, restraints, and opportunities-

Rise in global average price of automobiles and increase in demand for vehicles fuel the growth of the global car finance market. On the other hand, emergence of rideshare services and surge in debts from various borrowers curtail down the growth to some extent. However, enactment of technologies in existing product lines and untapped potential of emerging economies are expected to create multiple opportunities for the key players in the industry.

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Covid-19 scenario-

  • The outbreak of the pandemic has resulted in sharp decline in consumer trends and preferences toward purchasing cars. Accordingly, the global car finance market has been considerably affected. However, the overall situation is gradually being ameliorated across the world and the market is expected to get back to its position soon.
  • At the same time, it’s worth mentioning that people across the world have started preferring private way of transportation over selecting public transport which, in turn, has provided the market with a mixed effect.

The banks segment to lead the trail by 2027-

Based on distribution channel, the banks segment accounted for nearly two-fifths of the global car finance market share in 2019 and is anticipated to maintain the lion’s share throughout the study period. The OEMs segment,

We believe that Discover Financial’s stock (NYSE: DFS) has a strong upside potential of 16% in the near term. DFS trades at $64 currently and it has lost 23% in value year-to-date. It traded at a pre-Covid high of $74 in February and is 14% below that level now. Also, DFS stock has gained 144% from the low of $26 seen in March 2020, after the multi-billion dollar stimulus package announced by the U.S. government has helped stock prices recover to some extent. That said, the stock is leading the broader markets by a wide margin (S&P 500 is up 50%), as investors are positive about the growth in consumer demand over the coming months, leading to higher transaction volumes and credit card loans. Despite a significant improvement in DFS stock since late March, we believe that the stock still has room to grow in the near future. Our conclusion is based on our detailed analysis of Discover Financial’s stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.

2020 Coronavirus Crisis

Timeline of 2020 Crisis So Far:

  • 12/12/2019: Coronavirus cases first reported in China
  • 1/31/2020: WHO declares a global health emergency.
  • 2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
  • 3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as COVID-19 cases accelerate outside China. Doesn’t help that oil prices crash in mid-March amid Saudi-led price war
  • Since 3/24/2020: S&P 500 recovers 50% from the lows seen on

  • Hedge fund billionaire Dan Loeb urged Disney to suspend its dividend payments and instead use those funds to grow Disney+ streaming. 
  • The founder of Third Point wrote a letter on Wednesday to CEO Bob Chapek saying that reallocating this dividend money could double the company’s streaming services budget for original content, Bloomberg reported. 
  • Loeb’s push to build out streaming comes as in-person movie theaters continue to suffer throughout the pandemic.
  • “Every Hollywood executive has been able to enjoy first-run films in the comfort of their home theaters for years,” he said. “We urge you to democratize this experience.”

Investor Dan Loeb urged Disney CEO Bob Chapek to end the company’s annual $3 billion dividend payments and redirect those funds to building up Disney+ in a Wednesday letter.

The founder of Third Point said that reallocating dividend money to Disney+ could double the streaming service’s budget for original content, bring in additional subscribers, lower churn, and boost pricing power, according to the letter obtained by Bloomberg. His push for streaming comes as in-person movie theaters continue to suffer throughout the pandemic.

“Every Hollywood executive has been able to enjoy first-run films in the comfort of their home theaters for years,” he said. “We urge you to democratize this experience.”

Read more: A $2.5 billion investment chief highlights the stock-market sectors poised to benefit the most if stimulus is passed after the election — and says Trump ending negotiations doesn’t threaten the economic recovery

In August, Loeb initiated a long position in Disney during the second quarter and said in a quarterly letter that streaming is Disney’s “biggest market opportunity ever with potentially $500 billion of revenue.” 

Shares of Disney rose as much as 2% during Wednesday trading. The media giant is down nearly 15% year-to-date but has gained over

Press release content from Newswire. The AP news staff was not involved in its creation.

NEW YORK – October 5, 2020 – ( Newswire.com )

The insurance industry has received a major wake-up call in the form of the recent digital transformation accentuated by the coronavirus pandemic. Insurance agencies, carriers, and brokerages have been forced to revamp outdated websites and optimize online marketing channels to reach target audiences through digital content. Insurance companies in need of new targeted channels for strategic distribution select Newswire’s Financial Distribution Platform to reach new customers during this unprecedented time.

Insurance companies have relied far too heavily on print marketing collateral throughout the 21st centuries, and as Kathleen Booth of iMPACT.com stated, “…agencies need to create more digital content.” Beyond the creation of said content, insurance agencies need to distribute this information effectively to uncover opportunities with key financial outlets. 

“Content strategies need to be prepared in such a way that reporters and journalists from relevant outlets understand the immediate potential in your company news. With Newswire’s Financial Distribution Platform, insurance agencies can target a larger audience and reach more prospective customers,” said Charlie Terenzio, Newswire’s VP of Earned Media Advantage Business.

Insurance C-suite executives and teams can reach millions of potential readers by distributing company news on Yahoo Finance, as well the most popular global financial websites available on-demand, such as Morning Star, Market Watch, and The Street. 

“With Newswire, executives can deliver news directly to investors, analysts and financial community,” said Anthony Santiago, Newswire’s VP of Marketing. “This allows insurance agencies to maximize their influence across their own industry as well as global investors.” 

Insurance companies continue to leverage Newswire to enhance their distribution efforts to generate greater viewership and qualified leads through consistent communication campaigns. 

Learn how