Coronavirus: Government sends food packages to the most vulnerable March 29, 2020 The first food packages have been sent to those who were asked by the government to isolate for 12 weeks and shield themselves from coronavirus due to being particularly vulnerable. The government has dispatched 2,000 food parcels already over this weekend to those who are unable to leave their homes because of severe health conditions [...]
UK credit rating downgraded due to coronavirus impact and Brexit uncertainty March 28, 2020 The UK’s credit rating has been downgraded to AA- from AA due to the budget impact of the coronavirus outbreak and Brexit uncertainty. Credit rating agency Fitch has forecast that the UK’s economic output would drop by almost four per cent for the year. It said it had concerns about the UK’s “fiscal loosening stance” [...]
Royal Mint to manufacture vital visors for NHS frontline staff March 27, 2020 The Royal Mint is set to manufacture thousands of visors for the NHS to help protect frontline staff. Engineers at the Royal Mint created an approved medical design in just 48 hours. The first batch are already in use at The Royal Glamorgan Hospital in South Wales. The Royal Mint usually produces coins, bullion and [...]
Employer confidence plunges as coronavirus crisis escalates March 27, 2020 UK employer confidence in the economy plummeted as coronavirus spead across the country, driven by a dive in sentiment among small businesses, according to the latest research. Confidence dropped 22 percentage points between February and March from a net figure of minus one to minus 23, as smaller firms were hit hard by the economic [...]
International Energy Agency chief warns oil demand could sink 20 per cent March 26, 2020 Global demand for oil could fall by 20 per cent as 3 billion people around the world live in lockdown. Head of the International Energy Agency Fatih Birol, who made this prediction, also called on Saudi Arabia to rectify the situation. Brent crude, currently at $26 a barrel, has been driven to record lows because [...]
Coronavirus: US stocks shake off dire unemployment data March 26, 2020 US stocks shook off awful unemployment data this afternoon to climb higher as traders pinned their hopes on a $2 trillion economic stimulus package. The Nasdaq rose 3.5 per cent by 4.30pm, while the Dow Jones climbed a whopping 4.9 per cent. The S&P 500 posted a large rise of 4.3 per cent. Yesterday the [...]
UK becomes biggest donor in race to find coronavirus vaccine March 26, 2020 The UK is now the biggest donor toward finding a coronavirus vaccine, after Boris Johnson pledged a further £210m in a call between G20 leaders today. Johnson also announced £40m of funding for developing affordable treatments, £23m on research for new testing devices, and £50m on a joint advertising campaign with Unilever to explain the [...]
UK coronavirus: Death toll jumps by more than 100 in a day March 26, 2020 The UK coronavirus death toll has jumped by more than 100 in a day for the first time, reaching 578 in total. As of 5pm this evening, 115 people across the UK had died in the previous 24 hours after contracting the virus. Meanwhile, the number of confirmed cases in the UK rose to 11,658. [...]
130 profit warnings triggered by COVID-19 March 26, 2020 | City Talk I’m not even sure where to begin. I think I’ll start with my week in numbers… On Monday…UK quoted companies issued as many profit warnings in a day as they did in the whole of April 2019 On Tuesday….8 FTSE Retailers warned, the sector’s average quarterly total in 2019 On Wednesday, by 10am…5 FTSE Household Goods and Home Construction companies had [...]