Coronavirus: Almost half of UK businesses expect they will have to lay off employees June 29, 2020 Almost half of UK businesses expect that the coronavirus crisis will force them to lay off employees. A new survey from YouGov revealed that 42 per cent of UK businesses expect they will have fewer employees in a year’s time compared to before the coronavirus lockdown. This compares to just 16 per cent of people [...]
UK debt office plans record bond sales to help struggling economy recover June 29, 2020 The UK will sell a record amount of government debt this year, testing the level of demand for gilts as Britain grapples with the economic fallout from the coronavirus pandemic. The UK’s Debt Management Office (DMO) this morning announced plans to sell a further £50bn of bonds by the end of August, bringing its issuance [...]
Gloomy start for Asian stocks amid second wave fears June 29, 2020 Asian stocks opened the week under a cloud as investors adopted a more defensive stance amid fears over the continuing spread of the coronavirus pandemic. Japan’s Nikkei fell 2.1 per cent, while the Hang Seng dropped 1.3 per cent and the SSE Composite shed 0.8 per cent in a cautious start to the new week’s [...]
Boris Johnson prepares spending splurge for ‘thunderclap’ economic downturn June 28, 2020 Boris Johnson has pledged to spend tens of billions of pounds on a raft of infrastructure projects and jobs programmes to help the UK economy bounce back from the coronavirus crisis. Johnson said he would “double down” on his election commitment to “level up” the country and would fast track a swathe of infrastructure projects. [...]
Dwindling number of female chiefs as Card Factory boss leaves June 26, 2020 Karen Hubbard’s departure from Card Factory leaves no women at the top of any FTSE retailer. Hubbard claimed the status as the only female boss after a considerable drop in the number of women at the top of FTSE firms. This is despite around 60 per cent of the retail workforce are women while approximately [...]
Markets live: FTSE 100 gains on Sunak’s hints of additional fiscal stimulus June 26, 2020 The FTSE 100 clawed back some of the week’s losses as investors took comfort in Rishi Sunak’s hints at potential additional stimulus. The blue-chip index opened 1.07 per cent higher before climbing to trade up 1.5 per cent by 1.50pm. However, the FTSE 100 is on track for a two per cent loss across the [...]
Aston Martin seeks to raise £152m to bolster finances June 26, 2020 Aston Martin today said it will ask investors to snap up £152m of new shares to help it become roadworthy once more amid sinking sales and the coronavirus pandemic. Britain’s luxury car manufacturer said the equity raise, planned for the end of June, would be equivalent to around 20 per cent of its existing issued [...]
Rishi Sunak says government bailouts are a ‘last resort’ June 26, 2020 Rishi Sunak has said that government bailouts are not an “attractive long term feature of the economy” as companies grapple with the impact of coronavirus. Speaking to Bloomberg TV, the Chancellor said the government is the last resort and the bar is “exceptionally high” for company bailouts. He noted: “This is not my money. It’s [...]
Global stocks claw back losses despite second wave fears June 25, 2020 The FTSE 100 clawed back some of its losses and swung positive on Thursday, despite concerns that a resurgence of coronavirus cases in the US could stall the global economic recovery. London’s blue-chip index closed 0.38 per cent higher at 6,147 points, after a volatile day of trading which saw it drop 0.57 per cent [...]
US jobless claims: 1.48m more file for benefits as total hits 47m June 25, 2020 More than three months into the coronavirus crisis, millions more Americans are still filing for unemployment benefits each week. According to the US labour department, 1.48m people filed claims last week, marking a slowdown from the previous week’s figure of 1.54m. Economists had predicted a bigger drop to around 1.3m. While it marks the twelfth [...]