US stocks tumble as oil price plunges and lawmakers debate lockdowns April 20, 2020 US stocks have tumbled at the open as plunging crude oil prices and debates over the timetable for lifting coronavirus lockdown measures weigh on investor sentiment. The Dow Jones index dropped 1.5 per cent in early trading. The S&P 500 fell 1.2 per cent and the Nasdaq slipped 0.8 per cent. European shares also turned [...]
FTSE 100 dragged down by coronavirus oil crash April 20, 2020 The FTSE 100 has turned lower as a slump in oil prices hits energy companies and investor sentiment sours with coronavirus battering the economy. Britain’s FTSE 100 was down 0.8 per cent at 5,743 points in early afternoon trading. It spent much of the morning in the green before plunging oil prices spread gloom over [...]
Coronavirus: UK household finances in worst state since 2011 April 20, 2020 UK households said their finances were in the worst position since 2011 in March as coronavirus battered the economy, according to a new survey. Households also reported that their income from employment plunged at the fastest rate in at least 11 years and fears about job security spiked. The household finance index from data firm [...]
Coronavirus: Bank of England says 35 per cent GDP drop ‘not unrealistic’ April 20, 2020 A Bank of England deputy governor has said the economy could shrink by 35 per cent in the second quarter if the coronavirus lockdown lasts three months, saying the scenario produced last week by the UK’s budget watchdog was not “unrealistic”. The Office for Budget Responsibility (OBR) said the UK economy could contract by 35 [...]
Italy’s borrowing costs rise as investors await key coronavirus meeting April 20, 2020 Italy’s borrowing costs have risen again today as investors nervously await an EU meeting on Thursday where countries will try to thrash out an agreement on how to tackle the coronavirus fallout. Italian bond yields, which move inversely to prices, have risen in recent weeks as the EU has struggled to find a decisive and [...]
US stocks rise as investors hope for coronavirus breakthrough April 17, 2020 US stocks have risen in afternoon trading despite dire economic data from China as investors grow optimism about a possible coronavirus drug breakthrough. The Dow Jones was up 1.6 per cent in morning trading in the US. The S&P 500 was 1.5 per cent higher and the Nasdaq had risen 0.6 per cent. European shares [...]
Andrew Bailey: Banks should ‘put their back into’ coronavirus lending April 17, 2020 Bank of England governor Andrew Bailey has sternly told banks to “put their back into” lending to struggling firms during the coronavirus outbreak. Lenders have come in for criticism that they are being too slow at handing out money through government-backed support schemes designed to stave off business collapses. Last week, City A.M. revealed that [...]
UK government extends coronavirus job retention scheme until end of June April 17, 2020 The Treasury has announced it will extend the UK’s coronavirus job retention scheme by one month until the end of June in a sign that an economic recovery may be some way off. Chancellor Rishi Sunak said it was “the right decision” after the government extended the coronavirus lockdown for another three weeks yesterday. The [...]
UK coronavirus hospital deaths rise by 847 to 14,576 April 17, 2020 The UK’s coronavirus hospital death toll rose by 847 yesterday, meaning 14,576 people have now died in Britain’s hospitals from the virus. The number is slightly lower than the daily rise of 861 reported for the day ending Wednesday. The previous daily rise had been 761. Britain recorded its highest daily death toll on April [...]
CBI says firms need clarity on job retention scheme timeline April 17, 2020 The head of the CBI has cautioned that employers could end up sacking workers unless the government’s scheme to pay furloughed workers’ wages amid the coronavirus pandemic is extended. Carolyn Fairbairn said the job retention scheme, under which the government will pay 80 per cent of the wages of workers who would otherwise be sacked, [...]
