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Markets slide despite government stimulus pledges to fight Covid-19 recession – business live – The Guardian, Theguardian.com

Markets slide despite government stimulus pledges to fight Covid-19 recession – business live – The Guardian, Theguardian.com

Selfridges in London yesterdaySelfridges in London yesterday

Selfridges in London yesterdaySelfridges in London yesterday Selfridges in London yesterday Photograph: Facundo Arrizabalaga / EPA.

The coronavirus crisis has forced Selfridges, the high-end department chain, to shut its stores in London, Manchester and Birmingham will close from 7pm tonight.

Selfridges flagship store on Oxford Street is one of the capital’s landmark retail sites, so this shows the scale of the retail downturn.

My colleague Zoe Wood suspects other will soon follow ….

Zoe Wood (@ zoewoodguardian)

How soon before other department store stores follow Selfridges lead? High fixed costs and presumably no shoppers.

https://t.co/tUjUqYBhnC

March 35,

(5) AM EDT :

Investment bank Jefferies has welcomed Rishi Sunak’s £ bn stimulus package, saying it will help the UK economy recover.

The next few months will be grim – GDP could fall by up to % in April-June. They told clients:

What do you think?

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