Tag: virus

Coronavirus: Welsh towns ‘vulnerable’ to virus impact

Media playback is unsupported on your device Media captionChris Morgan, who runs a family cafe in Tredegar, says it will be a long time before things return to normal An economic downturn from coronavirus will fall “most heavily” on valleys towns and coastal communities in north Wales, according to a research group. The Centre for Towns says places already exposed… Read more →

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Coronavirus: Chinese retail giant Alibaba sees ‘recovery’ after virus

Image copyright Getty Images Chinese e-commerce giant Alibaba said it has seen a “steady recovery” in the country since March, but warned that the path to an economic rebound remains uncertain. The firm’s sales grew 22% in the three months to 31 March, despite virus-related restrictions denting activity. The gain was stronger than expected, driven by demand for groceries, electronics… Read more →

UK borrowing at record high as virus cost soars in April

Image copyright Getty Images Image caption The furlough scheme means the government is paying the wages of more than 6.3 million people The government borrowed £62.1bn in April, the highest monthly figure on record, according to official figures. It underlines the cost of coping with the coronavirus pandemic through jobs schemes and loans, and is double the forecast of many… Read more →

Coronavirus: Government faces WW2-sized bill for tackling virus

Image copyright Getty Images The cost of the government’s efforts to combat the coronavirus pandemic has risen to £123.2bn, according to latest estimates from the government’s independent economics forecaster. The Office for Budget Responsibility’s previous estimate was £103.7bn. The increased cost of the government’s furlough scheme is the main cause. It now expects annual borrowing to equal 15.2% of the… Read more →

McLaren offers classic cars to secure virus help

Image copyright Getty Images McLaren is considering raising money by mortgaging its historic car collection and factory to see it through the coronavirus crisis. The Formula One team owner and supercar maker has seen sales and F1 advertising revenues hit as countries globally went into lockdown. Cars on show at McLaren’s Surrey HQ include F1 winners from the 1980s and… Read more →