FTSE 100 ends April in a slump as coronavirus batters Shell and Lloyds April 30, 2020 The FTSE 100 fell dramatically today after oil giant Shell slashed its dividend in response to the plunge in demand for oil amid the coronavirus pandemic and Lloyds profits slumped. The sell-off gathered speed throughout the day, with the FTSE 100 index ending 3.5 per cent lower at 5,901 points. It came after a dramatic [...]
Coronavirus: US weekly jobless claims at 3.8m as unemployment skyrockets April 30, 2020 More than 3.8m Americans filed jobless claims last week as unemployment in the world’s biggest economy continues to skyrocket amid the coronavirus pandemic. The new jobless claims, down from 4.4m the week before, mean roughly 30m Americans have lost their jobs in the last six weeks as states have all but shut down their economies. [...]
European Central Bank holds rates but offers lenders cheaper credit April 30, 2020 The European Central Bank has eased the conditions on its super-cheap loans for banks and launched a new package of “pandemic” lending in its latest bid to shore up the Eurozone during the coronavirus outbreak. The central bank stopped short of cutting interest rates further into negative territory or buying “junk” bonds, however. The decision [...]
Dow Jones, S&P 500 and Nasdaq drop as coronavirus ravages global economy April 30, 2020 US stocks have fallen with the Dow Jones, S&P 500, and Nasdaq all lower after dire economic data and earnings highlighted the impact of the coronavirus shutdown and subdued investors. The Dow Jones index dropped 1.3 per cent in early trading. The S&P 500 fell 0.7 per cent and the Nasdaq slipped 0.1 per cent. [...]
Tory MP calls on government to extend job retention scheme April 29, 2020 A Conservative London MP has called on the government to extend the job retention scheme that pays “furloughed” workers’ wages to help businesses hit by a plunge in international visitors. Nickie Aiken, MP for Cities of London and Westminster, and the Association of International Retail have written to chancellor Rishi Sunak to say that businesses [...]
US Federal Reserve holds rates and expresses caution about recovery April 29, 2020 The US Federal Reserve has kept interest rates on hold at their current record low level and signalled that they will stay there until “the economy has weathered” the coronavirus outbreak. The Fed said coronavirus “is causing tremendous human and economic hardship”. It added that it “poses considerable risks to the economic outlook over the [...]
UK coronavirus death toll now second-highest in Europe April 29, 2020 The UK now has the second-highest coronavirus death toll in Europe according to updated government figures that show more than 26,000 people have died from the virus. The government’s official figures previously only covered those who had died in hospital from coronavirus. But the government from today is taking into account fatalities in all settings, [...]
Global stocks jump on coronavirus drug hopes April 29, 2020 US stocks have risen sharply at the open and European stocks have turned higher after Gilead said it had seen positive signs from its experimental coronavirus drug remdesivir. Markets climbed despite the sharpest fall in US GDP since the financial crisis. The US’s Dow Jones index was up 1.8 per cent while the S&P 500 [...]
US economy shrinks at fastest pace since financial crisis April 29, 2020 The US economy shrank at its fastest rate since the financial crisis in the first three months of the year as coronavirus hammered the country, figures have shown, although analysts warned worse is yet to come. US GDP shrank at an annualised rate of 4.8 per cent in the January to March period, the Bureau [...]
US stocks slip back as consumer confidence plunges April 28, 2020 Wall Street stocks reversed course in morning trading after a survey showed US consumer confidence plunged in April and drugmaker Merck dragged down health equities. The S&P 500 was marginally lower three hours into trading. The Nasdaq was down 0.7 per cent but the Dow Jones was up 0.2 per cent European markets finished the [...]
