Businesses call for clarity on lockdown as fears grow for firms and jobs April 27, 2020 Business leaders’ group the Institute of Directors (IoD) has called on the government to provide more information about reopening the economy as bosses grow fearful about their firms’ prospects after the coronavirus outbreak. It comes as a report shows that one in three jobs are at risk in some parts of the country, including the [...]
Housebuilding set to drop 35 per cent in 2020, says report April 27, 2020 Coronavirus lockdown measures will mean 35 per cent fewer houses will be built in the UK in 2020 than originally planned, according to a new report, a fall likely to add to the stresses in the British housing market over the coming years. Property consultant Knight Frank predicted in a new report that around 104,000 [...]
BoE boss Andrew Bailey: Bank keeping ‘eyes open’ ahead of next meeting April 26, 2020 Bank of England governor Andrew Bailey has said Threadneedle Street is keeping its “eyes open” for risks to the economy or financial system ahead of its next scheduled interest rate decision on 7 May. Bailey also highlighted the huge amount of uncertainty the UK economy still faces. “No one can be sure exactly how the [...]
Coronavirus: Executives pessimistic about quick rebound for their firms April 24, 2020 The majority of executives think it will take longer than a year for their firms to bounce back from the coronavirus crash, a report has said. Bosses are also deeply pessimistic about the prospects of the global economy. They are slightly less pessimistic about their own companies and industries, however. The report, from the Economist [...]
FTSE 100 falls as doubts set in about coronavirus drug April 24, 2020 The FTSE 100 has fallen amid doubts about a drug that was touted as a possible coronavirus treatment and as the economic toll of the outbreak becomes clearer. Britain’s FTSE 100 stock index had fallen 0.7 per cent to 5,784 points in the afternoon session. The FTSE 250 of mid-cap companies was 0.1 per cent [...]
US stocks rise as investors find hope after choppy week April 24, 2020 US stocks have had a choppy start on the final day of a stormy week as investors hope coronavirus lockdowns will soon be eased but remain deeply uncertainty about the future. The Dow Jones index was up 0.1 per cent just after the bell. The S&P 500 had climbed 0.1 per cent but the Nasdaq [...]
Chancellor Rishi Sunak preparing 100 per cent coronavirus loan guarantees for smallest firms April 24, 2020 Chancellor Rishi Sunak is preparing to launch a new coronavirus support scheme that offers 100 per cent guarantees on loans to the smallest UK businesses, amid criticism that the current programme is not getting cash to firms fast enough. The coronavirus business interruption loan scheme (CBILS) offers loans of up to £5m to companies with [...]
‘Catastrophic’: German business sentiment crashes to new low amid coronavirus April 24, 2020 Business optimism in Germany is at “catastrophic” levels according to a closely watched gauge that has dropped to its lowest point on record as coronavirus ravages Europe’s biggest economy. The Ifo Institute think tank’s business climate index slumped to 74.3 points in April from 85.9 points in March. Never before has the index fallen so [...]
Hopes dashed as Gilead’s coronavirus drug remdesivir fails in first trial April 24, 2020 A coronavirus drug that had lifted the hopes of governments and investors has failed in its first trial, casting gloom over markets and raising the prospect that a treatment could be a long way off. Remdesivir, an experimental antiviral drug from US pharmaceutical firm Gilead, did not improve coronavirus patients’ condition or reduce the virus’ [...]
FTSE 100 rises despite awful economic data as oil rebounds April 23, 2020 The FTSE 100 recovered from a dip today to post a one per cent climb by the mid-afternoon, despite dire economic data as oil prices rebounded. Britain’s FTSE 100 stock index was down marginally by midday at 5,768 points after climbing more than two per cent yesterday. But by 3.30pm London’s index had risen 1.1 [...]
