UK PMI: Construction expands at fastest rate in over a year March 3, 2020 UK construction output rose at its fastest rate in over a year in February, a survey showed today, as new orders picked up at a fast clip. The IHS Markit/Cips construction purchasing managers’ index (PMI) jumped to 52.6 in February, up from 48.4 in January. A score of above 50 indicates expansion and it was [...]
What is the coronavirus and how dangerous is it? March 2, 2020 Since it emerged in China at the turn of the New Year, a deadly new strain of coronavirus has spread across the world and claimed hundreds of lives. The number of coronavirus cases globally is nearing 90,000, with fears of a possible pandemic. Read more: 14 Diamond Princess passengers evacuated to US test positive for [...]
Coronavirus: Stocks rise as traders expect US Federal Reserve rate cut March 2, 2020 Global stock markets have risen on expectations that the US Federal Reserve will slash interest rates to support the economy and boost confidence amid the coronavirus outbreak. A volatile morning saw Wall Street open higher before slipping into the red and then rebounding. The US’s S&P 500 stood 2.2 per cent higher two hours into [...]
Coronavirus live: OECD warning weighs down FTSE 100 recovery March 2, 2020 The OECD’s warning that the coronavirus outbreak could halve global growth in 2020 weighed down the FTSE 100 today, sending it back into the red before recovering marginally. Traders had initially sent London’s blue-chip index up 2.7 per cent this morning on the back of central banks saying they were ready to intervene to protest [...]
Coronavirus latest: UK to set out nationwide plan as Johnson warns spread ‘looks likely’ March 2, 2020 The UK government has agreed a plan for dealing with the coronavirus during an emergency Cobra meeting this morning, as the number of cases in the UK is expected to rise throughout the next few weeks. Prime Minister Boris Johnson urged people to “go about business as usual” and that the country was “very, very [...]
Wimbledon College closes after staff member contracts coronavirus March 2, 2020 Wimbledon College will be closed for at least a week after a staff member caught coronavirus on a trip to Italy, forcing teachers into quarantine. In a letter to parents sent yesterday, the esteemed south London school said the staff member is being treated for “confirmed novel coronavirus” following a recent trip to Italy. The [...]
UK mortgage approvals hit highest in four years March 2, 2020 UK banks approved the highest number of mortgages for four years in January, official statistics have shown, in a sign the housing market is recovering after a rocky 2019. Mortgage approvals for house purchase rose to 70,900 in January, up 4.4 per cent from December’s 67,930 figure, the Bank of England said today. The jump [...]
Coronavirus threat plagues Eurozone factory output March 2, 2020 Italy’s factory output slumped for the 17th month in a row in February, it emerged today, as economists warned the coronavirus outbreak could deepen the Eurozone’s manufacturing downturn. The embattled economy’s manufacturing industry activity fell from 48.9 in January to 48.7, according to IHS Markit’s purchasing managers’ index (PMI). Anything below 50 represents a contraction. [...]
UK PMI: Manufacturing output jumps but coronavirus looms March 2, 2020 Britain’s manufacturing sector grew at its fastest rate in ten months in February, UK PMI survey data has shown, although coronavirus has begun disrupting the industry. The IHS Markit/Cips manufacturing purchasing managers (PMI) index hit 51.7 in February, up from 50 in January, with a score above the 50 mark indicating expansion. The reading was [...]
Deutsche Bank under pressure from UK regulator over compliance failings March 2, 2020 The British financial regulator has criticised Deutsche Bank for failing to improve its compliance and anti-money laundering controls, and warned this could threaten the lender’s access to the UK post-Brexit. Bank of England regulators have told the German lender they now require monthly updates, as opposed to typical quarterly meetings, according to the Financial Times. [...]