UK News: BUSINESS LIVE: BNPL purchases soar; National debt hits £2.3trn

Buy now, pay later ( BNPL ) services from companies like Affirm, AfterPay, and Klarna have been around longer than many of the Gen Zers and Millennials who use the service. What’s important about today’s BNPL is its impact on marketing, not payments. If merchants can reduce interchange fees by driving purchases from debit and credit cards to other forms of payments, they’ll do what they can to make that happen. As Buy Now, Pay Later providers collect more data about consumers’ shopping and buying behaviors, they will become better partners to merchants than the banks and payment networks are. www.forbes.com

Britain’s national debt has hit £ 2 tn for the first time ever, jumping over 100% of GDP as the cost of Covid-19 mount. Sales of existing homes soared 24.7% in July compared with June, according to the National That’s according to IHS Markit’s survey of US purchasing managers, just released. Encouragingly, the survey also found that new business has picked up this month for the first time www.theguardian.com

Britain’s national debt has hit £ 2 tn for the first time ever, jumping over 100% of GDP as the cost of Covid-19 mount. Sales of existing homes soared 24.7% in July compared with June, according to the National That’s according to IHS Markit’s survey of US purchasing managers, just released. Encouragingly, the survey also found that new business has picked up this month for the first time www.theguardian.com

An experienced researcher and business writer in the print and digital media industry, having worked as a Research Analyst at Nairametrics, Voidant Broadcasting Ltd, Entrepreneurs.ng, and currently a Market and Finance Writer at Business a.m. For stories, press releases, exclusive events, call +2347052803696 Nigeria’s Debt Management Office (DMO) has just announced that Nigeria’s public debt hit N38.005 trillion or $92.62 billion at the end of September, 2021. The figure comprises the total external and domestic debts of the federal government and the 36 states of the federation, the debt www.businessamlive.com

BUSINESS CLOSE: Public debt reaches £ 2 .1tn; Retail sales rise 1.2% in October; British Gas workers to be balloted over strike action. By This Is Money. Government debt reached £ 2 .1trillion last month as it borrowed £ 22billion, according to Office for National Statistics figures, well below economists' forecasts, though it still means borrowing this year remains at a record high. More ONS statistics showed retail sales jumped just a modest 1.2 per cent, bucking poll forecasts for growth to slow to 4.2 per cent. www.thisismoney.co.uk

The national debt held by the public has soared passed the size of the U.K. economy as the pandemic’s impact takes a toll on the public’s finance. But independent forecasters from the Treasury expect the debt to reach £ 372.2 billion for the fiscal year ending March 2021. Per the data, the government’s initiative to slash VAT for businesses under the hospitality sector pushed the overall sales tax for August lower compared to last year in the same period, with a £ 3.7 billion deficit. It paid a total of £ 500 million to cover the Eat Out to Help Out scheme as well.

The Debt Management Office on Wednesday released Nigeria’s total public debt stock as of June 30, 2020, and put the country’s entire debt at N31 trn , indicating an increase of N2.38 trn within a space of three months. Nigeria’s total public debt stock includes the debt stock of the Federal Government, the 36 states, and the Federal Capital Territory. The debt office explained that the increase in the debt stock by N2.381 trn or $6.593bn was accounted for by the $3.36bn budget support loan from the International Monetary Fund, new domestic borrowing to finance the revised 2020 Appropriation Act.