Coronavirus: Eurozone economy suffers record hit in March April 3, 2020 The Eurozone economy suffered the biggest blow on record in March, survey data has shown, as coronavirus containment efforts all but stopped activity. The IHS Markit purchasing managers’ index (PMI) – a closely watched gauge of the health of the euro area economy – crashed to 29.7 in March from 51.6 in February. A score [...]
FTSE 100 falls as oil prices slip and coronavirus spreads April 3, 2020 The FTSE 100 has fallen at the bell after oil prices slipped and the number of global coronavirus cases topped 1m. Britain’s oil-heavy FTSE 100 index was 1.3 per cent lower just after the open at 5,411 points. The benchmark had risen roughly 0.8 per cent the day before. European markets were also lower. The [...]
Asian stocks slip on oil and coronavirus pessimism April 3, 2020 Asian stocks dropped overnight as oil prices pared some of their gains and investors braced themselves for another weekend of headlines about the spread of coronavirus. China’s Shanghai composite index fell 0.8 per cent, Hong Kong’s Hang Seng dropped 0.7 per cent, and Japan’s Nikkei slipped 0.1 per cent. Australia’s S&P ASX fell 1.7 per [...]
Business heavyweights sign on to Covid-19 business pact April 2, 2020 Some of the UK’s largest companies, including BP and RBS, have signed up to a pledge to provide extra support their employees and customers through the coronavirus. Former cabinet secretary Justine Greening created the initiative, called the C-19 Business Pledge, and involves companies promising to offer things like financial security advice and mental health help [...]
US stocks rebound after Donald Trump announces oil deal April 2, 2020 US stocks have rebounded after President Donald Trump said Saudi Arabia and Russia have agreed to cut oil production, boosting prices and helping energy companies in the middle of the coronavirus slowdown. The rise on Wall Street came despite US jobless claims surging. The number of Americans claiming unemployment benefits for the first time hit [...]
Bank of England injects £1.9bn into UK companies via coronavirus scheme April 2, 2020 The Bank of England has injected £1.9bn into UK companies since 23 March via its short-term lending programme, figures have shown, as it tries to shore up the economy amid the coronavirus outbreak. The lending comes via the Bank’s covid corporate finance facility (CCFF), through which it buys companies’ short-term debt, known as commercial paper. [...]
Coronavirus: US jobless claims soar to new record of 6.6m April 2, 2020 More than 6.6m Americans filed for unemployment benefits for the first time last week, figures have shown, eclipsing the previous record of 3.3m jobless claims set the previous week as coronavirus crashes the US economy. The US jobless claims figure from the Department of Labor was almost twice as bad as the 3.5m analysts had [...]
Bunzl cancels final dividend amid coronavirus slowdown April 2, 2020 UK distribution firm Bunzl has said it will not propose a final dividend for 2019 as it adjusts to a market heavily disrupted by coronavirus, sending its shares lower in morning trading. The firm said “it intends to consider the appropriateness, quantum and timing of an additional interim dividend payment” for 2019 when some clarity [...]