Tag: hit

Lockdown fears hit travel, hotel and pub shares

Image copyright Getty Images Leading shares across Europe have fallen sharply in morning trading amid fears that a renewed rise in coronavirus cases will blight economic prospects. In London, the benchmark FTSE 100 share index was down more than 3%, with airlines, travel firms, hotel groups and pubs leading the rout. Worst hit was British Airways owner IAG, which slumped… Read more →

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Business rent holiday extension ‘will hit pension schemes’

Image copyright Christopher Furlong Landlords have reacted with dismay to a further rent holiday for struggling businesses, saying it will hit pension schemes, savings, and lenders. The government extended the protection, which includes a moratorium on commercial evictions, on Wednesday. Business groups said the support, first introduced in April due to coronavirus, “will provide a respite” for firms. But landlords… Read more →

Coronavirus: Hit to global economy ‘will be less than expected’ in 2020

Image copyright NOAH SEELAM The damage to the global economy this year will be less than previously expected, but still “unprecedented”, a leading international body says. The Organisation for Economic Cooperation and Development now predicts a decline of 4.5% in 2020, versus the 6% drop forecast in June. It means it no longer expects the UK to have the deepest… Read more →

Young people hit as unemployment rate rises

Image copyright Getty Images The UK unemployment rate has risen to its highest level for almost two years, official figures show. The unemployment rate grew to 4.1% in the three months to July, compared with 3.9% previously. Young people were particularly hard-hit, with those aged 16 to 24 suffering the biggest drop in employment compared with other age groups. Firms… Read more →

Santander hit by online banking outage ahead of holiday weekend

Image copyright Getty Images Santander UK customers were unable to access their online accounts for several hours from Friday morning until mid-afternoon. “We are currently experiencing issues with customers logging in to Online Banking,” the lender told customers via Twitter. It comes ahead of a bank holiday weekend and monthly salary payments for millions of Britons. The bank said the… Read more →

Coronavirus: UK worst hit among major economies

Image copyright Getty Images The UK was the hardest hit by Covid-19 among major economies from April to June, the Organisation for Economic Co-operation and Development has said. Its economy suffered its biggest slump on record over the three-month period as coronavirus lockdown measures pushed the country officially into recession. Its 20.4% contraction was well above the 9.8% drop for… Read more →