News And Announcements
Bookmaking company GVC's Ladbrokes and Coral UK operations are refusing to pay rent on more than 3,000 shops to save cash as the coronavirus pandemic hammered profits, Sky News reported on Friday.
The People’s Bank of China has cut the amount of cash smaller banks must keep in reserve, as it looks to bolster the country’s economic recovery following the Covid-19 outbreak.
China’s crucial services sector recovered only marginally in March after tumbling to record lows in February, data published on Friday showed.
Eurozone economic output crashed at a record pace in March as the coronavirus epidemic took its toll on demand and production, a benchmark survey showed.
The UK services sector suffered its worst decline on record in March as the coronavirus outbreak took its toll, according to a survey released on Friday.
Retail sales crashed to their worst month on record in March as government coronavirus measures hit trading and consumers tightened their belts, a closely watched survey showed.
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.
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 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 numbers tumbled in February at the steepest rate since the terrorist attacks on the World Trade Centre in 2001, industry data showed on Thursday.
Losses for African and Middle East airlines due to the coronavirus had risen to $23bn and governments needed to intervene rapidly, latest analysis from the industry body showed on Thursday.
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.
British banks should use the £7. 5bn saved in scrapped dividends and bonuses to write off debt repayments for customers affected by the coronavirus, investment platform AJ Bell said on Wednesday.
UK mobile network O2 said it had ended its partnership with Carphone Warehouse after it failed to agree to a new deal with the retailer.
Aerospace companies and the UK's biggest airport are reportedly lobbying the government to bail out struggling airline Virgin Atlantic.
US output slumped at its fastest pace since the height of the financial crisis in March, data published on Wednesday showed.
Private sector employment eased in the US last month, figures released by consultancy ADP on Wednesday showed, but is expected to fall even further in the coming weeks because of the coronavirus outbreak.
The recent global market recovery will unwind as the impact of Covid-19 increases, the economy slumps into recession and corporate defaults rise, a prominent distressed debt investor has warned.
UK manufacturing output fell in March at its fastest rate in eight years, while employment declined at the fastest rate in more than a decade as the coronavirus outbreak and efforts to slow its spread took their toll, according to data released on Wednesday.
Chinese manufacturing stabilised in March after a record plunge caused by the coronavirus crisis, a survey showed.