Archives for Economy News

UK & Global Business News From Morning Brew…

TOGETHER WITH Good morning. These are certainly unusual times. The NBA is suspended, Italy is locked down, Tom Hanks has coronavirus, and many of you are currently reading this in PJs. We’re gonna get through this.And we want readers to know that now more than ever we are laser-focused on bringing you the most important business news every morning. If there’s ever any way we can be more useful to you, our inbox is always open.  Have a great day, and remember: When videoconferencing, the mute button is your friend. MARKETS NASDAQ 7,952.05 – 4.70% S&P 2,741.38 – 4.89% DJIA 23,553.22
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Office for National Statistics Release The Shopping Basket Report for Measuring Inflation…

Reusable bottles and gluten-free cereals are in, as ONS updates the inflation basket… Commenting on this year’s basket of goods, ONS senior statistician Philip Gooding said: “This year we have added reusable bottles and mugs to the inflation basket, as there has been a rise in popularity with many consumers looking to decrease their environmental impacts. “It is important to remember that these annual changes are only a small percentage of the overall basket. This year we’ve added 16 items, removed 14 and modified 4, while leaving 702 unchanged. “Decisions on changes to the basket depend, among other issues, on
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Irish Business News / IrishBiz – Prolonged Coronavirus Outbreak Could Place the Irish Republic in to a Recession…

A prolonged outbreak of coronavirus in the Republic could push the economy into recession, the Economic and Social Research Institute (ESRI) has warned. The think tank said the economy could shrink for the first time since the financial crisis if the country remained on lockdown for an extended period. The institute’s Kieran McQuinn said that if the outbreak can be contained to a single quarter and “if by June/July things are returning to normal then the Irish economy should still register positive growth this year”. However, if the issue and particularly the “lockdown” goes beyond that period “we’re looking at
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European Business News / EuropeanBiz – Latest European Economic News After Coronavirus Impact…

Europe’s economy was meant to have a decent year in 2020. Factory production in the 19-country eurozone rose strongly in January, after a tentative truce in the US-China trade war. Consumer confidence was strong. Housebuilders’ order books were full. The stage was set for a solid, albeit unspectacular year. The European economy would see “steady and moderate growth”, predicted the European commission’s economic forecast on 13 February. It also warned of clouds on the horizon, including a new virus. Noting mounting concern about coronavirus, as well as “downside” risks, the Brussels forecast concluded the outbreak would peak in the first three
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