Britain may be in the grip of its worst economic slump in centuries, a Bank of England official warned, as the coronavirus lockdown pounded businesses this month with more force than even the most pessimistic forecasters had feared.
FILE PHOTO: Workers are seen as the sun sets behind a construction site in London, Britain, January 21, 2020. REUTERS/Henry Nicholls/File Photo
The government will need to issue 180 billion pounds of debt in the next three months alone to pay for the unprecedented measures launched to stem the collapse of the economy, the Treasury said on Thursday. It fell to record low of 12.9 from 36.0 in March - not even close to the weakest forecast in a Reuters poll of economists, a reading of 31.4. The picture was similar in France and Germany.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Britain suffering worst peacetime downturn ever; recovery may falter: Reuters pollBritain is in the midst of its deepest downturn in peacetime as the coronavirus pandemic wreaks havoc on the economy, a Reuters poll of economists found, while an expected recovery in the second half is already in jeopardy.
Read more »
Police seek motive as Canada's worst mass shooting death toll rises to 23The gunman, 51-year-old Gabriel Wortman, who masqueraded as an RCMP officer and disguised his car to look like a police cruiser, shattered the peace of rural communities during a rampage that started late on Saturday, Canadian authorities say.
Read more »
Is Michael Jordan Really the Worst Dressed Athlete of all Time?With the new docuseries on the NBA all-star, “The Last Dance,” airing on ESPN, there’s a renewed focus on Michael Jordan’s infamous fashion sense. But were his clothes actually so bad?, writes jacobwgallagher
Read more »
Vodafone exec slams 5G-coronavirus conspiracy theories: 'The worst type of fake news'Such baseless claims have inspired people to torch cell phone towers in Europe, resulting in outcry from officials, carriers and scientists.
Read more »
Coronavirus Today: Plans for a worst-case scenarioOur special-edition newsletter breaks down the latest coronavirus news, including California public health officials planning for a surge that may overwhelm hospitals.
Read more »