5 Things You Need To Know, Today, on Friday 20th March 2020
Justin Waite
5 Things You Need To Know
06:42, 20th March 2020

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5 Things You Need To Know, Today, on Friday 20th March 2020

5. UK cruise firm Saga are understood to have spoken to government officials to explore their potential use as hospitals and are awaiting a reply.

The luxury ships could provide space for more than 2,600 patients in separate cabins and have on-board medical facilities.

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4. The global economy is already in a recession as the hit to economic activity from the coronavirus pandemic has become more widespread, according to economists polled by Reuters.

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3. Jaguar Land Rover said late yesterday it would temporarily suspend production at its UK manufacturing facilities from next week to curb the coronavirus’ spread.

The carmaker said it intends to resume production at the facilities in the week of April 20th.

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2. The Bank of England has cut interest rates again in an emergency, the second cut in just over a week, bringing them down to 0.1% from 0.25% the lowest ever in the Bank's 325-year history.

The Bank said it would also increase its holdings of UK government and corporate bonds by £200bn with an effort to lower the cost of borrowing.

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1. The chancellor is set to announce an employment and wage subsidy package to try to protect millions of jobs.

Talks went on into the night with business groups and union leaders, who urged the government to help pay wages amid the coronavirus pandemic.

(Click here to read more)

 

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