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 [...]
Coronavirus: The crisis could be the turning point for LawTech April 9, 2020 When we look back on the current coronavirus pandemic, we will see it as a major turning point in history. The scale of this crisis will dramatically reshape society and the entire global economy forever, for better and for worse. Our main focus should be on ensuring that the better outweighs the worse, for moments [...]
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 [...]
Coronavirus: The banks were slow to get on board, but there are greater challenges ahead April 9, 2020 When the full impact of Coronavirus began to be felt in mid-March the Chancellor announced measures to support UK business by first introducing the Coronavirus Business Interruption Loan Scheme (CBILs) and quickly following it with the Job Retention Scheme (JRS). These were the immediate lifelines to business in the UK that had been called for, [...]
FCA introduces credit card and loan freeze to help consumers through coronavirus April 9, 2020 The Financial Conduct Authority (FCA) announced a package of measures today to help customers with credit cards and loans during the coronavirus lockdown. The City watchdog said the measures would help provide temporary financial relief to people with commonly used consumer credit products. Firms are expected to offer customers a temporary payment freeze on loans [...]
Coronavirus: London’s future remains extremely bright April 9, 2020 In recent weeks, millions of us have begun to work from home for the first time. In the current climate of uncertainty, many wonder about the discrete workforce and supply chain that makes their daily life possible, and realise how we are all deeply interlinked, globally and locally. As millions of us make this transition, [...]
Coronavirus: What can the Chinese economic experience teach the rest of the world? April 9, 2020 The Coronavirus pandemic has brought unprecedented pressure upon the global economy, yet the length of this paralysis is key to answering many of the questions being asked. Albeit too early to properly assess what effects containment measures – initiated by governments across the world – are currently having, it is likely that these will intensify [...]
Oil prices: Opec and Russia to discuss production cuts April 9, 2020 Opec and Russia will meet today to try to negotiate cuts to production cuts in a bid to address a drop in oil prices during the coronavirus crisis. Demand for fuel has plunged as much as 30 per cent after lockdowns and travel restrictions forced airlines to ground their plans and car usage slumped amid [...]
Asian stocks climb as hopes grow coronavirus is peaking April 9, 2020 Asian stocks rose today as hopes grew the global coronavirus outbreak is reaching its peak and oil prices grew on expectations of a production cut. Hong Kong’s Hang Seng index rose 0.65 per cent despite Japan’s Nikkei dropping 0.33 per cent overnight. The Nikkei sank as coronavirus infections rose in Japan, after the government declared [...]
Coronavirus downturn ‘will exacerbate UK health inequality’ April 9, 2020 The economic downturn caused by the coronavirus outbreak will disproportionately harm the health of the most vulnerable in society and exacerbate inequality, a top think tank has warned. In a report published today, the Institute for Fiscal Studies (IFS) said the pandemic was putting the NHS under “unprecedented” strain, leading to cancelled operations and disruptions [...]