Co-ordinated stimulus package recognises the critical role of banking to support the economy March 30, 2020 | City Talk A consistent message from financial regulators post 2008 was that the next financial crisis would look different. Few would have predicted a global health pandemic, coupled with an oil price war, would dramatically curtail economic activity. Yet while banking was not the cause of this crisis, regulators, politicians and the industry itself have quickly moved [...]
Hedge funds circle Paddy Power owner Flutter Entertainment March 30, 2020 Hedge funds and institutions are circling Paddy Power owner Flutter Entertainment, whose market value has fallen by a quarter in the past month due to its sports betting exposure. The suspension of sports fixtures across the globe has sent shockwaves through the gambling sector in recent weeks, with Flutter Entertainment plummeting as much as 35 [...]
Coronavirus: More than half of Brits expect a recession March 30, 2020 More than half of Britons now expect the economy to tumble into recession within a year due to the coronavirus outbreak, a poll has shown, with pessimism about household finances rising at the fastest rate on record. Pollsters Yougov said 52 per cent of people in the UK think the economy will be in recession [...]
How small businesses can do big things for sustainability March 30, 2020 | Sponsored With the green agenda more important than ever, businesses are under pressure to ensure they are both environmentally and economically sustainable. The 26th UN Climate Change Conference (COP26) is on the horizon and attention is focused on how businesses will play their part to tackle climate change. Many big corporations have big budgets for green [...]
Coronavirus: Oil prices plunge to 18-year low March 30, 2020 Oil prices have tumbled to an 18-year low, dragging down Asian stocks as coronavirus continues to hit economies and Saudi Arabia shows no sign of ending its oil price war with Russia. Brent crude oil fell 5.7 per cent to $23.52 per barrel this morning, its lowest level since 2002. US crude fell 3.9 per [...]
Coronavirus: FTSE 100 falls as oil prices plummet March 30, 2020 The FTSE 100 has slipped lower after the coronavirus situation worsened in the UK over the weekend and oil prices tumbled to an 18-year low. Britain’s FTSE 100 index was 1.2 per cent lower at midday at 5,446 points. It had fallen 5.3 per cent on Friday after rallying strongly over the previous three days. [...]
Coronavirus sets UK on course for deepest recession since 2008 March 30, 2020 The UK is set for the deepest recession since the 2008 financial crisis as the coronavirus pandemic ravages the economy. The Centre for Economics and Business Research (CEBR) predicts the UK economy will shrink marginally in the first quarter year, by 0.5 per cent, before contracting a staggering 15 per cent in the second quarter. [...]
Unemployment to double as coronavirus cripples the economy March 29, 2020 Unemployment in the UK is set to double in the next few months and economists are bracing for the coronavirus outbreak to hit harder than the financial crisis. Despite the government’s attempts to incentivise employers to keep staff on, investment bank Nomura predicts the effect of the pandemic will hit “multiple times that of the [...]
Coronavirus: Employees can defer annual leave for two years, says business secretary March 28, 2020 Employees unable to take all their annual leave this year due to the coronavirus pandemic will be allowed to carry it over for two years, the business secretary announced today. Alok Sharma, standing in for self-isolating Prime Minister Boris Johnson at the government’s daily briefing, said the government had introduced new measures to facilitate this. [...]
Trump signs largest financial stimulus package in US history March 28, 2020 US President Donald Trump has signed the largest financial stimulus package in US history, worth a total of $2tn (£1.7tn). The cross-party bill was passed by the House of Representatives as the country attempts to control the fallout caused by the coronavirus pandemic. The number of US citizens filing for unemployment reached record highs on [...]