Playstations and yoga mats: Online shopping surges amid UK lockdown April 5, 2020 Online shopping has boomed in Britain since the country entered coronavirus lockdown, with households buying games consoles to pass the hours and yoga mats to keep fit and healthy while movement is restricted. Transactions at major online UK retailers are at 170 per cent of their seasonal average, according to internet advertising firm Criteo. Brits [...]
Arcadia and Debenhams eye drastic measures as coronavirus pummels retailers April 5, 2020 The UK’s retail sector is creaking under the weight of coronavirus, with a number of high-profile names such as Debenhams, Cath Kidston and Arcadia Group scrambling to stay viable. Topshop owner Arcadia could walk away from as many as 550 of its stores this week, serving notice to landlords weeks after it shut its physical [...]
Oil prices surge but global stocks drop over coronavirus fears April 3, 2020 Global stocks have slipped lower even as oil prices have rebounded, as investors focus on the economic fallout from coronavirus. Oil prices have jumped after US President Donald Trump yesterday announced Saudi Arabia and Russia would cut production. Brent crude rose 10.8 per cent to $33.18 per barrel. US crude rose 4.4 per cent to [...]
Coronavirus: US services sector slows but data hides real slump April 3, 2020 US service sector activity slowed to a three-and-a-half-year low in March, survey data has shown, although economists believe the real picture is much worse as coronavirus spreads rapidly through the country. The ISM non-manufacturing purchasing managers’ index (PMI) fell to 52.5 in March from 57.3 in February. A score above 50 indicates expansion. Analysts had [...]
US unemployment surges as coronavirus lockdown takes toll April 3, 2020 US unemployment surged in March as coronavirus sent the economy into a tailspin, official data has shown. US employers laid off 701,000 workers in March after hiring 275,000 in February, the Labor Department (DoL) said. Analysts had been expected a fall of 100,000. The figures represent an abrupt end to the US labour market’s winning [...]
Pound slides against the dollar amid coronavirus recession April 3, 2020 The pound has fallen against the dollar after dire economic data and as investors sell shares in favour of holding cash amid the coronavirus pandemic. Sterling was one per cent lower against the dollar this morning at $1.228. It was down 0.6 per cent against the euro at €1.136. Stock markets were lower across Europe [...]
Coronavirus pushes UK services sector to worst month on record April 3, 2020 The UK’s dominant services sector shrank at the fastest pace on record in March, survey data has confirmed, as the coronavirus lockdown ravaged the economy. “The services sector was sucked into a black hole and flung into the unknown,” said Duncan Brock, group director of the Chartered Institute of Procurement and Supply (Cips). The IHS [...]
Coronavirus: Eurozone economy suffers record hit in March April 3, 2020 The Eurozone economy suffered the biggest blow on record in March, survey data has shown, as coronavirus containment efforts all but stopped activity. The IHS Markit purchasing managers’ index (PMI) – a closely watched gauge of the health of the euro area economy – crashed to 29.7 in March from 51.6 in February. A score [...]
FTSE 100 falls as oil prices slip and coronavirus spreads April 3, 2020 The FTSE 100 has fallen at the bell after oil prices slipped and the number of global coronavirus cases topped 1m. Britain’s oil-heavy FTSE 100 index was 1.3 per cent lower just after the open at 5,411 points. The benchmark had risen roughly 0.8 per cent the day before. European markets were also lower. The [...]
Asian stocks slip on oil and coronavirus pessimism April 3, 2020 Asian stocks dropped overnight as oil prices pared some of their gains and investors braced themselves for another weekend of headlines about the spread of coronavirus. China’s Shanghai composite index fell 0.8 per cent, Hong Kong’s Hang Seng dropped 0.7 per cent, and Japan’s Nikkei slipped 0.1 per cent. Australia’s S&P ASX fell 1.7 per [...]
