Coronavirus: Governments face huge but necessary debt increases, says IMF April 15, 2020 The “unprecedented” government spending to tackle coronavirus and its economic effects will send deficits past their post-financial crisis levels and cause debt levels to balloon, the International Monetary Fund (IMF) said today. The IMF backed huge levels of spending, however, saying “a sizable increase in deficits this year is necessary and appropriate”. It said government [...]
FTSE 100 falls as fears over coronavirus crash grow April 15, 2020 The FTSE 100 has tumbled as investors brace themselves for an extension of coronavirus lockdown measures and as warnings about the economy grow louder. Britain’s FTSE 100 index was down 2.8 per cent at 5,630 points by the early afternoon, having fallen yesterday while other indices rose. The FTSE 250, made up of smaller domestically-focused [...]
US stocks slide after retail sales and factory output plunge April 15, 2020 US stocks have opened sharply lower after retail sales fell by the biggest amount on record and manufacturing output plunged. Wall Street’s S&P 500 index was 2.5 per cent lower shortly after the bell. The Dow Jones was down 2.2 per cent and the Nasdaq was also down 2.2 per cent. The falls came after [...]
Goldman Sachs profit nearly halves as coronavirus hits investment April 15, 2020 Profit at Goldman Sachs dropped more than 45 per cent in the first quarter of 2020 compared to a year earlier as the coronavirus slowdown hit the Wall Street giant’s asset management arm, its latest earnings report showed today. Goldman’s net earnings for the January to March period were $1.21bn (£970m), down 46 per cent [...]
Lending through UK coronavirus scheme hits £1.1bn after three weeks April 15, 2020 The UK’s coronavirus business loan scheme has picked up after firms complained it was not working, with £1.1bn lent out to 6,020 small and medium-sized companies as of yesterday. Banking body UK Finance today said total lending under the scheme has grown by £700m in the last week after criticism of the programme led the [...]
Oil prices dip as investors ‘boo’ Opec production cut April 15, 2020 Oil prices have slipped this morning as investors worry that huge production cuts will not be enough to offset the slump in demand amid a deep, coronavirus-driven global recession. Brent crude fell 2.4 per cent to $28.90 per barrel in early London trading. US crude was 0.9 per cent lower at $19.94. The falls mean [...]
FTSE 100 finishes lower despite global coronavirus rally April 14, 2020 The FTSE 100 missed out on a global rally today after the UK government said it intends to keep lockdown measures in place for the time being and dire predictions were made about the economy. Britain’s FTSE 100 index closed 0.9 per cent lower at 5,792 points. Yet European and US markets were more cheery, [...]
US stocks rise as investors focus on Chinese trade recovery April 14, 2020 US stocks have risen sharply in early trading as investors take heart in better-than-expected Chinese economic data and as state governors weigh up easing coronavirus lockdowns. The S&P 500 index was 2.3 per cent higher roughly an hour after the bell. The Dow Jones was up two per cent and the Nasdaq had risen 3.1 [...]
Coronavirus: UK economy could shrink by 35 per cent in second quarter April 14, 2020 The UK economy could shrink by 35 per cent in the second quarter of this year and unemployment could hit 10 per cent as coronavirus lockdown measures take a devastating toll, Britain’s budget watchdog has warned. The Office for Budget Responsibility (OBR) said such a slowdown could send the budget deficit to its highest level [...]
Coronavirus: Global economy to suffer worst year since 1930s April 14, 2020 The global economy will shrink by three per cent in 2020 as coronavirus triggers the worst economic collapse since the Great Depression, the International Monetary Fund (IMF) said today. Although the IMF said growth will rebound in 2021 to 5.8 per cent, it said predictions were uncertain and the size of the recovery will depend [...]
