Coronavirus sends Eurozone economy to worst quarter on record May 15, 2020 The Eurozone economy shrank at the fastest pace on record in the first three months of the year, official figures have shown, as coronavirus brought normal life to a halt. Euro area GDP plunged 3.8 per cent quarter on quarter in the first three months of the year, according to EU statistics body Eurostat. That [...]
When will the UK economy recover from coronavirus? May 15, 2020 The UK economy is set for its worst contraction since at least the Great Depression this year as the coronavirus lockdown brings activity to a halt. There’s little doubt about that. There is doubt about what comes next, however. Economists have made huge numbers of predictions, using an array of letters to describe the recovery. [...]
Woodford protege Mark Barnett leaves Invesco after 24 years May 15, 2020 Woodford protege Mark Barnett is leaving Invesco after 24 years, after a disappointing few months. Invesco confirmed the departure after Sky News reported Barnett would be leaving the firm after a difficult few months for the fund manager. It comes just weeks after he was sacked by Perpetual Income and Growth Trust after more than [...]
Coronavirus could cost global economy $8.8 trillion May 15, 2020 The global economy could haemorrhage between $5.8 trillion and $8.8 trillion (£4.7 trillion-£7.1trillion) this year depending on how long coronavirus containment measures last, the Asian Development Bank has said. In the worst-case scenario, that would be equivalent to almost 10 per cent of the world’s output. Economists say the world is going through its worst [...]
Video-by-default and a silver surfer generation: Predicting a post-pandemic tech world May 15, 2020 Everybody is in the business of prediction these days. The path of the pandemic, and its impact on health services. The shape of the impending recession, the stock market or the oil price. Unemployment figures or the size of the national debt. As a venture investor, I can’t predict the future better than anyone else. [...]
Just Eat boss Peter Duffy moves to Moneysupermarket May 15, 2020 Just Eat boss Peter Duffy has been appointed as chief executive of price comparison website Moneysupermarket. Duffy, who was chief commercial operator at Easyjet before he joined takeaway giant Just Eat, will take the reins at Moneysupermarket from 1 September. He will replace Mark Lewis who announced he would step down as chief executive in [...]
Royal Mail chief executive Rico Back steps down after less than two years May 15, 2020 The chief executive of Royal Mail has stepped down after less than two years in the role. Rico Back has stepped down as group chief executive with immediate effect, and will leave the company on 15 August after more than 30 years. Back, who joined the company in 1989 and was appointed as chief executive [...]
German economy shrinks at fastest pace since financial crisis May 15, 2020 The German economy shrank at its fastest pace since the financial crisis in the first quarter of the year, as the powerhouse of Europe was battered by the coronavirus pandemic. German GDP dropped 2.2 per cent in the first quarter compared to the final three months of 2019. It was the second largest drop since [...]
National Express running at 50 per cent revenue in April May 15, 2020 Coach operator National Express has said that it is currently operating at half its normal revenue due to the impact of the coronavirus pandemic on travel. In a trading update, the firm said its revenue in April was 50 per cent what it was in the same month last year. However, the coach company said [...]
BT shares surge on possible sale of £20bn stake in Openreach May 15, 2020 BT’s share price jumped in early trading today following reports the telco is preparing to sell a £20bn stake in its fibre rollout arm Openreach. The telecom giant’s shares, which have been trading at a record low this year, rocketed 9.25 per cent to 111.6p on a Financial Times report that discussions were underway. BT [...]
