ECB’s Christine Lagarde asked Eurozone to consider joint ‘coronabonds’ March 25, 2020 European Central Bank (ECB) president Christine Lagarde asked Eurozone finance ministers yesterday to seriously consider launching joint “coronabonds” to help countries in the currency area which have been put under stress by the coronavirus outbreak. However, the idea of issuing joint debt for the whole of the euro area was opposed by Germany, the Netherlands [...]
German business morale slumps amid coronavirus outbreak March 25, 2020 German business morale has slumped to its lowest level since 2009, a survey showed today, as the powerhouse of the Eurozone slides towards a coronavirus-induced recession. The final reading of the Ifo Institute think tank’s business climate index fell to 86.1 in March from 96 in February. This was lower than an initial estimate and [...]
US stocks jump as Congress nears coronavirus stimulus deal March 24, 2020 US stocks have jumped after the Federal Reserve made its biggest move yet to calm the markets and boost the economy and as investors hope Congress will produce a stimulus package worth around $2 trillion (£1.7 trillion). Wall Street’s S&P 500 index was 6.3 per cent higher, the Dow Jones industrial average had rocketed 9.5 [...]
High-spending Rishi Sunak proves a hit among Brits March 24, 2020 Prime Minister Boris Johnson’s approval ratings have turned positive for the first time as the public “rallies to the flag” during the coronavirus outbreak – but he’s still far less popular than chancellor Rishi Sunak. The 39-year-old chancellor, who only took up the job last month, has surged in popularity as he oversees the largest [...]
Rishi Sunak: ‘Incredibly complicated’ to help self-employed during coronavirus outbreak March 24, 2020 Chancellor Rishi Sunak has said the government will unveil measures to support the self-employed but said it was very difficult to design support schemes for those not employed by companies. Sunak said he could not commit to a timeframe for the measures, however, as pressure rises on the chancellor to do more to support those [...]
Coronavirus: FTSE 100 rises as Fed buys bonds and UK enters lockdown March 24, 2020 The FTSE 100 rebounded sharply today after the government imposed a UK coronavirus lockdown and the US Federal Reserve announced an unlimited bond-buying spree yesterday. Britain’s blue-chip stock index jumped 4.3 per cent higher in morning trading to climb back above 5,000 points to 5,206. The FTSE 100’s rise made up for the 3.7 per [...]
Coronavirus to hit UK economy harder than financial crisis March 24, 2020 Business activity crashed at a record pace in March as efforts to contain coronavirus sent the UK economy into a tailspin, preliminary survey data has shown, putting Britain on track for an extreme recession. The IHS Markit/Cips private sector purchasing managers’ index (PMI) – a gauge of economic performance – plunged to a record low [...]
Coronavirus sparks record collapse in Eurozone output March 24, 2020 The coronavirus pandemic caused the biggest collapse in Eurozone business activity ever recorded in March, preliminary survey data has shown, in an early sign of the havoc the virus is wreaking on European economies. IHS Markit’s Eurozone purchasing managers’ index (PMI), a closely watched gauge of private sector output, crashed to 31.4 in March from [...]
London number one for green finance quality March 24, 2020 London has maintained its world-leading position in green finance quality as Europe continues to lead the way on eco-friendly financial products, according to the latest Z/Yen index. The UK capital came first on the list for “quality” of green finance and sixth for “depth”, putting it third on the index as a whole. Amsterdam came [...]
FTSE 100 slumps despite massive Fed intervention March 23, 2020 FTSE 100 and global stocks tumbled today despite a massive intervention by the US Federal Reserve to try and stabilise coronavirus-ravaged markets. Britain’s blue-chip stock index closed nearly 3.8 per down at 4,993 points. The pan-European Stoxx 600 closed down 4.3 per cent, Germany’s Dax closed down 2.1 per cent and France’s CAC 40 ended [...]
