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US stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500’s best month in 33 years.
The bill facing the government for subsidies and tax breaks for businesses hit by the Covid-19 outbreak has already reached more than £100bn, according to the Treasury’s independent economic forecaster.
UK manufacturing output is likely to plunge by more than 55% in the second quarter as demand evaporates due to the coronavirus outbreak, an industry body has said.
The European Commission has announced a relaxation of banking accounting rules to ensure that lenders can continue to extend loans to companies struggling during the Covid-19 crisis, in a bid to ensure a coordinated EU response and avoid national fragmentation.
Reports have surfaced criticising Deloitte’s role in expanding testing across the country. One testing centre Deloitte supports underperformed to the extent that local hospitals sought to take over the flagship operation from the Big Four giant.