Markets live: Nasdaq hits record intraday high as FTSE 100 rallies on recovery hopes July 6, 2020 The FTSE 100 and US stock markets rose sharply today as investors cheered the prospect of more stimulus for the UK economy and followed the lead of Asian markets. London’s index of blue-chip companies was 1.87 per cent higher this afternoon at 6,2572.5 points. The FTSE 250 index of slightly smaller firms rose 1.27 per [...]
US services sector returns to growth with record surge July 6, 2020 The enormous US services sector returned to solid growth in June, according to a survey, with a closely watched gauge posting its biggest rise since records began. It is the latest sign that the world’s biggest economy was on its way back to normality in June from coronavirus lockdowns. However, a surge of new coronavirus [...]
Construction sector rebounds sharply as UK reopens July 6, 2020 The UK construction sector beat expectations and returned to solid growth in June as coronavirus lockdown measures were eased further, according to a survey. The closely watched IHS Markit/Cips construction purchasing managers’ index (PMI) surged to 55.3 in June from May’s severely weak reading of 28.9. It was the fastest pace of expansion since July [...]
Decline in Eurozone construction sector eases July 6, 2020 The decline in the Eurozone’s construction sector eased significantly in June, survey data has shown, as economies reopened from coronavirus lockdowns. The closely watched IHS Markit Eurozone construction activity index rose sharply to 48.3 in June from 39.5 in May. This was the best reading since February, indicating that the sector is on its way [...]
Production under controversial ventilator challenge comes to an end July 4, 2020 Production of medical breathing devices under the UK’s “ventilator challenge” will come to a halt this weekend, with the government claiming success for its controversial scheme. The challenge was launched in late March when the government feared that the UK’s existing supply of ventilators – machines which help people to breath in intensive care – [...]
PM plans further reopenings as he warns England to ‘be responsible’ July 3, 2020 Prime Minister Boris Johnson said the government will next week announce a timetable for the reopening of parts of the economy that remain shut such as swimming pools, gyms and nail bars. At a Downing Street press conference he said: “Next week we will set out a timetable for their reopening, though of course I [...]
UK government wins stake in satellite firm Oneweb July 3, 2020 The UK government has won its joint bid with India’s Bharti Enterprises for the collapsed satellite internet operator Oneweb, in a move set to put it in competition with Elon Musk’s Starlink. The government will invest $500m and take a significant equity share in Oneweb, thought to be about 20 per cent. Oneweb went bust [...]
Young people face economic ‘scarring’ from Covid, says top think tank July 3, 2020 The coronavirus recession has dealt a double blow to young people in the UK, who are more likely to have lost their jobs amid the lockdown and now face bleak career prospects, a leading think tank has warned. New research from the Institute for Fiscal Studies (IFS) today said the carnage in the hospitality and [...]
Covid Recovery Commission: FTSE 100 bosses unite to set UK economy back on track July 3, 2020 Some of the biggest names in UK business have teamed up to create a pressure group to ensure the economy emerges from coronavirus “stronger and fairer”, its members announced today. The group will be called the Covid Recovery Commission, and will involve the chairs of FTSE 100 powerhouses Tesco and Shell and the chief executives [...]
US economy adds 4.8m jobs as recovery continues July 2, 2020 The US economy added 4.8m jobs in June, the biggest increase since records began in 1939, in the latest sign that the country is rebounding sharply from the depths of the coronavirus crisis in April. The unemployment rate fell to 11.1 per cent in June – still extremely high by historical standards – from 13.3 [...]
