5 Things You Need To Know, Today, on Wednesday 1st July 2020
Justin Waite
5 Things You Need To Know
04:51, 1st July 2020

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5 Things You Need To Know, Today, on Wednesday 1st July 2020


5. About 600 workers will lose their jobs after shirtmaker TM Lewin announced it will close all 66 of its UK shops.

The firm said most of its 700 workers will be laid off as it takes all of its sales online, to help cut costs.

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4.EasyJet says it has begun consultations on plans to close bases at Stansted, Southend and Newcastle.

The Unite union said nearly 1,300 UK crew members faced losing their jobs.

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3. Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both, according to energy consultancy DNV GL.

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2. Aerospace giant Airbus says it plans to cut 15,000 jobs as it deals with the effects of the coronavirus crisis.

It will cut 1,700 jobs in the UK, along with thousands more in Germany, Spain and elsewhere.

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1. Britain’s economy shrank by the most since 1979 in early 2020 as households slashed their spending, according to official data that included the first few days of the coronavirus lockdown.

Gross domestic product dropped by a quarterly 2.2% between January and March, below a forecasted fall of 2.0%.

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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