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 [...]
Shareholders may push Debenhams into administration April 3, 2020 Debenhams is set to plunge into administration as shareholders attempt to keep the historic retailer out of creditors’ hands during the coronavirus outbreak, it is reported. Debenhams is poised to announce its intention to appoint administrators next week, with KPMG in the running, Sky News reported today. Investors could push for the move to prevent [...]
UK coronavirus death toll jumps 684 to 3,605 April 3, 2020 The UK’s coronavirus death toll jumped 684 today to 3,605, the Department of Health said. As of 9am today, a total of 173,784 people have been tested of which 38,168 tested positive, the department said. As of 5pm yesterday, 3,605 of those hospitalised who tested positive in the UK for coronavirus have died, the biggest [...]
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 [...]
BAE predicts ‘significant disruptions’ from Covid-19 April 3, 2020 Defence firm BAE Systems today said it expects “significant disruptions” due to coronavirus as it moves into the second quarter of the financial year. It comes after an opening three months where the Covid-19 pandemic had a minimal impact on the London-listed company. The firm today said it was assessing the situation and would update [...]
Coronavirus: Boris Johnson to stay in self-isolation with high temperature April 3, 2020 Prime Minister Boris Johnson has said he will remain in self-isolation after continuing to exhibit coronavirus symptoms first diagnosed last week. “Although I feel better and I’ve done my seven days of self-isolation, alas I still have one of the symptoms, a minor symptom. I still have a temperature,” Johnson said in a Twitter video. [...]
Banks welcome Chancellor’s revamp of coronavirus loan scheme April 3, 2020 A revamp of the coronavirus loan scheme for businesses has been welcomed by banks after they faced criticism for delays. The government has pledged to guarantee £330bn of loans but only £14bn has been lent so far. The coronavirus business interruption loan scheme means businesses with a turnover of up to £45m can apply for [...]
COVID-19 has now triggered 215 profit warnings April 3, 2020 The headline number tells you that we’ve recorded 215 COVID-19 related profit warnings in 2020, as of 9am 2 April 2020. Of those 215 COVID-19 related warnings, almost 190 have come in the last three weeks. That’s significantly higher than any quarter we’ve recorded in the last 21 years. It’s almost as many as we’ve counted [...]
Coronavirus: The London coffee firms offering home delivery April 3, 2020 The coronavirus lockdown has thrown everything off – from the morning commute to the pint after work. Odds are, it’s also disrupted your coffee routine. London coffee expert Tim Ridley tells City AM that most takeaway places have shut down thanks to the Covid-19 pandemic, but plenty of the capital’s hotspots have pivoted to online [...]
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 [...]
