English authorities give green light to Roche coronavirus antibody test May 14, 2020 England’s public health body has given the green light to a coronavirus antibody test made by Swiss drugmaker Roche, in what could be a crucial step in Britain’s effort to trace the outbreak. An antibody test is a blood test that can tell whether somebody has had coronavirus, even if they have recovered. Up to [...]
FTSE 100 and US stocks fall on fears of coronavirus second wave May 13, 2020 The FTSE 100 and US stocks have fallen as fears of a second wave of coronavirus infections spook traders and US-China tensions rise over the pandemic. The UK’s blue-chip stock index was 1.2 per cent lower in afternoon trading. This took the FTSE 100 below the 6,000 mark which it passed yesterday for only the [...]
UK GDP shrinks: Economists warn worst yet to come as lockdown persists May 13, 2020 The UK economy shrank by a record 5.8 per cent in March, thanks almost entirely to just over a week of coronavirus lockdown that began on the 23rd. In the first quarter as a whole GDP contracted by two per cent, the Office for National Statistics (ONS) said today. This was its worst performance since [...]
Markets live: US stocks climb as FTSE 100 passes 6,000 points May 12, 2020 US stocks have followed the FTSE 100 higher as investors are cheered by countries’ moves to ease some coronavirus restrictions. Wall Street’s Dow Jones index climbed 0.3 per cent in morning trading. The S&P 500 rose 0.1 per cent and the Nasdaq gained 0.3 per cent. Britain’s FTSE 100 index closed 1.1 per cent higher, [...]
Bank of England must weigh up negative interest rates, says deputy governor May 12, 2020 Bank of England deputy governor Ben Broadbent has raised the possibility of negative interest rates in the UK, but said the BoE would have to think hard about the challenges they pose. Asked about negative rates on CNBC, Broadbent said it was “a question that’s been thought about on and off since the financial crisis [...]
Extend job retention scheme or risk ‘second wave’ of unemployment, says think tank May 12, 2020 Chancellor Rishi Sunak should extend the job retention scheme until September and longer for some sectors to help stave off a “second surge” in unemployment, a leading think tank has said. The Resolution Foundation said some sectors would need support for longer than others and suggested the scheme should run until the end of the [...]
Extend job retention scheme to stop unemployment spike, says think tank May 9, 2020 The UK’s coronavirus job retention scheme must be extended for three months in order to prevent joblessness from spiking, an employment think tank has said. Under the job retention scheme (JRS) the government pays 80 per cent of “furloughed” workers’ wages, up to a limit of £2,500 a month. In a report out today, UK [...]
UK coronavirus death toll rises by 626 to 31,241 ahead of lockdown easing May 8, 2020 The UK government has announced that 626 more people have died from coronavirus since yesterday, taking the total death toll to 31,241. Environment secretary George Eustice said that 4,649 more people had tested positive for Covid-19 since yesterday. That took the total to 211,364. Eustice said that 97,000 people were tested yesterday. That is short [...]
US stocks rise on China trade hopes despite dire jobs report May 8, 2020 US stocks have risen in early trading despite the worst unemployment report in modern history, as investors take cheer in the US and China’s agreement to work together on the smooth implementation of their trade deal. The Dow Jones index was 1.5 per cent higher. The S&P 500 rose 1.3 per cent while the Nasdaq [...]
Nonfarm payrolls: US unemployment soars as 21m Americans lose jobs May 8, 2020 More than 20m Americans lost their jobs in April, official “nonfarm payrolls” data has shown, as the world’s largest economy was battered by coronavirus and the lockdowns put in place to stop it spreading. The 20.5m job losses sent the unemployment rate soaring to 14.7 per cent, the US Bureau of Labor Statistics (BLS) said, [...]
