Coronavirus: UK job vacancies plummet in March April 14, 2020 The number of UK permanent job vacancies has been cut in half by the coronavirus outbreak, according to new figures. Jobs data, released today by growth analytics platform cube19 for the Association of Professional Staffing Companies (APSCo), showed that permanent vacancies in the last week of March were down by 50 per cent year-on-year. Contract vacancies [...]
UK GDP could fall by 30 per cent in second quarter April 13, 2020 Chancellor Rishi Sunak has reportedly told ministers to expect GDP to fall by as much as 30 per cent between April and June. The government’s draconian social distancing measures will be reviewed next week, with an extension considered a formality. The coronavirus lockdown has already begun to bite the UK economy, with activity in the [...]
Coronavirus: US consumer prices fall by largest amount in five years April 10, 2020 US consumer prices fell by the largest amount in five years in March due to the impact of coronavirus, with further decreases expected as the virus squeezes demand for goods and services. The US labor department said that the consumer price index dropped 0.4 per cent last month due to plummeting prices for petrol, hotels, [...]
Oil prices fall as Opec production cut deal hangs in balance April 10, 2020 Oil prices have dropped sharply overnight despite a tentative agreement between oil cartel Opec and Russia to cut production by 10m barrels per day, roughly 20 per cent of their output. Discussions will resume today, with the negotiations hinging on whether Mexico decides to join in with the cuts, which it has thus far balked [...]
Opec closes in on record deal with Russia to cut oil production by 20m barrels a day April 9, 2020 Oil producer cartel Opec is in talks with Russia about cutting production by 20m barrels per day, roughly 20 per cent of the world’s oil supply, in a bid to end their price war and support the market. Sources from both sides told Reuters that the cuts, which are at least 5m barrels per day [...]
Coronavirus: US stocks rise as Fed intervenes again April 9, 2020 US stocks have opened higher today after the US Federal Reserve committed an extra $2.3 trillion (£1.84 trillion) to shore up the struggling economy. The S&P 500 rose two per cent, the Dow Jones climbed nearly 2.1 per cent and the Nasdaq opened 0.9 per cent up. The rise means that the S&P 500 has [...]
US jobless claims hit 6.6m as coronavirus slams economy April 9, 2020 US jobless claims hit 6.6m last week as a result of the coronavirus pandemic which has wreaked economic chaos. The data from the Department of Labor showed 6.6m Americans claimed unemployment benefits for the first time last week. Last week the Department of Labor said 6.6m had claimed for unemployment benefits for the first time, [...]
Coronavirus: US Federal Reserve pledges another $2.3 trillion in loans April 9, 2020 The US Federal Reserve has promised an extra $2.3 trillion (£1.84 trillion) of loans to shore up the US economy as American unemployment surged for the third week in a row amid the coronavirus crisis. Fed chairman Jay Powell said the money would be made available for employers and households to help them through the [...]
Oil prices: Markets hold their breath ahead of Opec+ meeting April 9, 2020 This afternoon’s crunch meeting between oil cartel Opec and Russia could send shockwaves through global energy markets and send oil prices spiking or crashing. For weeks oil prices have been in freefall due to a production war between de facto Opec leader Saudi Arabia and Russia. The pair are stuck in a dispute over production [...]
Coronavirus: FTSE 100 and European stocks trim gains April 9, 2020 The FTSE 100 trimmed gains along with the major European stocks after jumping on today’s open, but traders still hope the coronavirus pandemic is peaking. Traders pushed London’s blue-chip index back into the green as it opened 1.9 per cent higher to 5,781 points. The FTSE 100’s 100-point jump came after a 0.5 per cent [...]