Rolling coverage of the latest economic and financial news, as stocks begin the new quarter with fresh losses
UK banks aren’t the only companies taking drastic action to cope with Covid-19.
Housebuilder Taylor Wimpey has announced that its directors have cancelled their bonus scheme for 2020, and are taking a 30% pay cut for the duration of the coronavirus lockdown.
Fairly intensive selling has now driven the FTSE 100 down by over 4%, down 235 points at 5434.
The banks are doing plenty of damage, along with other financial stocks such as Legal & General (-10%), Standard Life Aberdeen (-8.5%) , Aviva (-8.4%) and Prudential (-8.1%).
Continue reading...from The Guardian https://ift.tt/2UAd4zH
