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Breaking Economic News
31 Mar
Covid-19 could leave 24m in poverty, warns World Bank

The economic impact of the Covid-19 pandemic could leave 24 million people trapped in poverty in East Asia and the Pacific (EAP), the World Bank warned on Tuesday.

27 Mar
control tower with aircraft 11111
Gatwick closes North terminal, reduces flight hours from April 1

Gatwick Airport said it would close one of its two terminals from April 1 and operate flights for eight hours daily as the Covid-19 impact hammered demand for air travel.

27 Mar
Covid-19: UK self-employed to receive 80% of salary

Self-employed workers hit by the coronavirus crisis will receive a government grant worth 80% of earnings under a new scheme unveiled on Thursday, but would have to wait until June to get the cash, Finance Minister Rishi Sunak said on Thursday.

24 Mar
camden high street retail shopping
UK heads for deep recession as business activity slumps

The coronavirus caused a record slump in UK business activity even before the government imposed extraordinary measures to curb the spread of the disease, a closely watched survey showed.

23 Mar
Covid 19: UK govt urges Britons travelling abroad to return home

The UK government advised all Britons travelling abroad to return home immediately, an hour before Prime Minister was due to address the nation on the coronavirus crisis.

23 Mar
Covid-19: UK govt suspends rail franchises to stop firms collapsing

The UK government effectively renationalised the railways on a temporary basis as it suspended all franchise agreements to help train companies avoid collapse due to the coronavirus pandemic.

20 Mar
Covid-19: UK to guarantee wages for up to 3 months

The British government unveiled an income guarantee for workers affected by the coronavirus pandemic covering up to 80% of salaries in a socialist gamble unthinkable a week ago.

20 Mar
Covid-19: UK orders pubs, restaurants, cinemas, gyms to shut from tonight

The UK government ordered all cafes, bars, pubs and restaurants to close from Friday night to stop people congregating and increasing the risks of spreading the coronavirus.

20 Mar
Bank of England cancels 2020 stress tests in response to Covid-19

The Bank of England said it had cancelled its annual stress tests for major banks to help them focus on lending during the coronavirus crisis.

18 Mar
Coronavirus: Johnson pledges law to protect renters

The government would bring forward emergency legislation to protect private renters from eviction if they fell ill with the coronavirus, Prime Minister Boris Johnson said on Wednesday.

17 Mar
Euro 2020 football championship postponed for a year

The European football Championship due to be played this summer has been postponed for a year, the continent's ruling body decided on Tuesday, as the disruption caused by the coronavirus continued globally.

17 Mar
Avis Budget placed on negative watch by S&P as demand slumps

Car rental giant Avis Budget was placed on negativewatch by ratings agency S&P which expected “materially weaker” operating results as demand for vehicles at airports slumped due to the coronavirus pandemic.

16 Mar
EasyJet cancels more flights; calls for govt backing to save industry

EasyJet said government backing would be needed to save the European airline industry from the impact of the coronavirus as it warned it may have to ground a majority of its fleet.

15 Mar
Coronavirus: US extends travel ban to UK, Ireland

The US government said it was extending its travel ban to the UK and Ireland from Monday in response to the coronavirus pandemic.

14 Mar
Coronavirus: Ryanair cancels Poland flights as country locks down

Ryanair cancelled all flights to Poland until the end of the month after the government there decided lock down the entire country to contain the spread of the Covid-19 coronavirus.

13 Mar
Swedish central bank lends $51bn to companies

Sweden’s central bank said it would lend up to SKR 500bn ($51bn) to domestic companies via banks to maintain the supply of credit during the coronavirus pandemic.

13 Mar
Norway cuts rates in surprise announcement

Norway's central bank made an unexpected cut in its key policy rate to 1% from 1. 5% to counter the economic impact from the coronavirus pandemic, adding that it was prepared to make further cuts.

11 Mar
UK BUDGET: Govt unveils £30bn package to combat coronavirus impact

UK Finance Minister Rishi Sunak unveiled a £30bn package of measures to combat the economic impact of the coronavirus and reassure jittery markets as he also pledged a major fiscal boost over the next five years.

11 Mar
Reactions to BoE interest rate cut to combat coronavirus impact

Market and industry reactions to the bank of England's emergency cut in its base rate to 0. 25% from 0. 75 as part of a package of measures to combat the economic impact of the coronavirus.

11 Mar
Bank of England slashes base rate by 0.5% in response to Covid-19

The Bank of England slashed its base rate to 0. 25% from 0. 75% on Wednesday in an emergency move to combat the economic impact of the coronavirus.