March, 2020

• 24 March

  Working from home to drive up electricity bills

  

  Bloomberg Household electricity bills are set to soar, thanks to the millions of people now working at home to avoid catching the coronavirus. Running laptops and other home appliances will cost consumers an extra 52 million pounds ($60 million) each week in the UK, according to a study from Uswitch, a website that helps consumers compare the energy prices that ...

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• 24 March

  Coronavirus is pushing door-to-door solar salesmen online

  

  Bloomberg The novel coronavirus pandemic is testing the residential-solar sector, which had forecast strong growth this year but hasn’t faced a recession since it reached the American mainstream. Its key challenges are similar to those facing many other industries: how to close sales, complete installations, and convince homeowners to add solar panels during a period of unexpected and mounting economic ...

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• 24 March

  US to let nuclear plants defer repair works

  Bloomberg US regulators are willing to let nuclear power plants defer some maintenance and inspections as the coronavirus threatens availability of workers. The Nuclear Regulatory Commission (NRC) expects to issue guidelines for operators to request permission for employees to work longer than allowed under current regulations. The agency expects to add additional sections covering maintenance as soon as possible, a ...

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• 24 March

  IMF sees a recession at least as bad as global financial crisis

  

  Bloomberg The International Monetary Fund (IMF) said it expects a global recession this year that will be at least as severe as the downturn during the financial crisis more than a decade ago, followed by a recovery in 2021. Nearly 80 countries have asked the Washington-based IMF for emergency finance, Managing Director Kristalina Georgieva said in a statement following a ...

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• 24 March

  AT&T seeks larger $5b term loan from banks

  

  Bloomberg AT&T Inc. is in discussions with banks for a new $5 billion term loan as it seeks alternative short-term financing options following a spike in commercial-paper costs, according to people familiar with the matter. The talks are still in flux and details may change, said the people, who asked not to be named because the discussions are private. The ...

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• 24 March

  UK virus stimulus exceeds boost during financial crisis

  

  Bloomberg The UK has pledged more fiscal stimulus to fight the economic fallout from the coronavirus than during the global financial crisis a decade ago, underscoring the scale of the threat posed by the pandemic. Prime Minister Boris Johnson’s government has allocated a total of almost 57 billion pounds ($66 billion) in direct support since the budget on March 11, ...

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• 24 March

  Germany’s economy heads for steep slump on Covid-19 impact

  

  Bloomberg Germany’s economy is heading for a steep recession as attempts to slow the outbreak of the coronavirus pandemic sent the services sector into an unprecedented slump. IHS Markit’s gauge of manufacturing and services activity plunged in March. It signals GDP in euro area’s biggest economy could drop by around 2% in first quarter — with worse to come. “The ...

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• 24 March

  Canada’s economic heartland shuts down

  Bloomberg Canada’s economic heartland is shutting down as Ontario and Quebec step up efforts to slow down the coronavirus outbreak. The two provinces, which together account for about 57% of the country’s economy, have ordered non-essential businesses to close by the end of Tuesday. The order is set to run for two weeks in Ontario and three in Quebec. “We’re ...

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• 24 March

  Twitter slashes quarterly sales forecast, warns of loss

  Bloomberg Twitter Inc. slashed its revenue forecast and warned of a loss for the current quarter, citing a decline in advertisers’ spending on its social network during the coronavirus outbreak. First-quarter sales will be down “slightly” year-over-year, compared with analysts’ average estimate for growth of 11%, according to a Bloomberg survey. San Francisco-based Twitter said it expects to incur an ...

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• 24 March

  Europe’s labour market better placed to face virus than US

  

  Bloomberg Continental Europe’s labour-market model is experiencing rare praise from economists because it may help prevent massive job losses during the coronavirus pandemic. While widespread layoffs are feared in the US, analysts don’t expect the same fallout in euro-area employment, where rules often make it harder for companies to fire workers, and also encourage their retention during a crisis. Such ...

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