Trump and Congress reach deal on $2 trillion coronavirus stimulus March 25, 2020 US senators and Trump administration officials have reached an agreement on a massive economic stimulus bill to alleviate the economic impact of the coronavirus outbreak, the negotiators said today. The Senate will vote on the $2 trillion (£1.69 trillion) package later in the day and the House of Representatives is expected to follow suit soon [...]
Oil prices knock UK inflation rate down to 1.7 per cent in February March 25, 2020 UK inflation slipped 0.1 per cent in February to 1.7 per cent, the Office for National Statistics (ONS) revealed today, as oil prices sank. Falling oil prices helped push the Consumer Prices Index (CPI) UK inflation rate down from 1.8 per cent in January, amid the ongoing coronavirus travel restrictions. Read more: Oil prices stage [...]
US stocks jump on hopes of coronavirus stimulus package March 24, 2020 US stocks soared this evening on hopes that congress was close to agreeing a $2 trillion stimulus package to protect the economy from the impact of the coronavirus pandemic. Wall Street’s S&P 500 index closed 9.3 per cent higher today, while the Dow Jones industrial average soared 11.37 per cent – its biggest one day [...]
Coronavirus: G7 pledges to continue fiscal expansion for ‘as long as needed’ March 24, 2020 Finance ministers and central bankers from the G7 countries have pledged to expand fiscal and monetary actions for “as long as needed” to restore global economic growth and confidence pummeled by the coronavirus. “We will do whatever is necessary to restore confidence and economic growth and to protect jobs, businesses, and the resilience of the [...]
Rishi Sunak: ‘Incredibly complicated’ to help self-employed during coronavirus outbreak March 24, 2020 Chancellor Rishi Sunak has said the government will unveil measures to support the self-employed but said it was very difficult to design support schemes for those not employed by companies. Sunak said he could not commit to a timeframe for the measures, however, as pressure rises on the chancellor to do more to support those [...]
Coronavirus: FTSE 100 rises as Fed buys bonds and UK enters lockdown March 24, 2020 The FTSE 100 rebounded sharply today after the government imposed a UK coronavirus lockdown and the US Federal Reserve announced an unlimited bond-buying spree yesterday. Britain’s blue-chip stock index jumped 4.3 per cent higher in morning trading to climb back above 5,000 points to 5,206. The FTSE 100’s rise made up for the 3.7 per [...]
Bank of England will ‘closely’ monitor credit to economy amid coronavirus crisis March 24, 2020 The Bank of England’s Financial Policy Committee (FPC) said it will “monitor closely” the credit conditions facing the economy amid the coronavirus pandemic, and stands ready to take further actions if needed. In minutes from recent meetings released this morning, the Committee said it “stands ready to take any further actions deemed appropriate to support [...]
Coronavirus to hit UK economy harder than financial crisis March 24, 2020 Business activity crashed at a record pace in March as efforts to contain coronavirus sent the UK economy into a tailspin, preliminary survey data has shown, putting Britain on track for an extreme recession. The IHS Markit/Cips private sector purchasing managers’ index (PMI) – a gauge of economic performance – plunged to a record low [...]
ECB intends to be ‘significant’ buyer in commercial debt market March 24, 2020 The European Central Bank intends to become a major buyer of commercial debt when it enters the market, according to ECB policymaker Francois Villeroy de Galhau. In an interview with French website Wansquare, Villeroy said the central bank plans to enter the market for commercial paper — a type of short-term unsecured debt issued by [...]
How coronavirus could change our working lives (and the climate) March 24, 2020 | City Talk financial markets. The epicentre of the shock is clearly being felt in travel related industries, as people cancel or put holiday plans on hold, and businesses cancel conferences and move to remote working. Remote working tools widely available As an investor looking at climate change trends, these changes in working practices are interesting in an [...]