Economic News
IATA calls for rapid help to help Africa, Middle East airlines
Losses for African and Middle East airlines due to the coronavirus had risen to $23bn and governments needed to intervene rapidly, the International Air Transport Association said on Thursday.
Covid-19 coronavirus infections in Italy continue falling
The trend in the number of new infections from the Covid-19 coronavirus pandemic continues to trend lower in Italy.
British Airways to suspend 30,000 staff after deal with unions
British Airways said it had reached agreement with trade unions to suspend more than 30,000 staff until the end of May under the government's coronavirus furlough scheme.
Brent oil spikes higher after Trump says Russia and Saudi will cut output
Traders in Brent crude oil endured a roller coaster-like session after the US President said Russia and Saudi had agreed to restrain their combined output, but Russian officials quickly appeared to call that into doubt, at least in part.
UK cough and cold medicine prices rise 10.7%
The price of cough and cold medicine rose by 10. 7% last week as retailers take advantage of the rise in demand due to the coronavirus outbreak.
Richard Branson defers Virgin brand payments over coronavirus crisis
Richard Branson will defer tens of millions of pounds in fees owed in brand licensing by Virgin branded companies in response to the coronavirus crisis.
Air passenger traffic falls at steepest rate since 9/11 in February
Air passenger numbers tumbled in February at the steepest rate since the terrorist attacks on the World Trade Centre in 2001, industry data showed on Thursday.
US foreign trade deficit narrows more sharply than expected due to China lockdown
America's shortfall in trade with the rest of the world narrowed sharply in February as Chinese exports slowed amid the impact from the Covid-19 pandemic.
Initial US jobless claims soar during latest week
US jobless claims surged even further last week as businesses rushed to shutter activity, surpassing even the most downbeat estimates.
Trump studying reduction of domestic US air travel
US President Donald Trump said he was considering restricting domestic US air travel in attempts to curb the spread of the coronavirus.
COP26 postponed over Covid-19 crisis
The UN COP26 climate change conference due to take place in Glasgow in November has been postponed in the wake of the Covid-19 crisis.
UK house price growth ‘grinding to a halt’ after rising in March
UK house prices rose in March but the market is now "grinding to a halt" due to the coronavirus and government measures to slow its spread, according to a survey released by Nationwide on Thursday.