2) CBI Chief Carolyn Ferbearn: “Now we are all abandoned.” The outgoing CBI chief says the huge need to boost the economy is in the face of a pandemic that will put aside any bad blood between the group and Tory leaders.
3) One in five young workers at work has already lost their jobs: Youth unemployment is thought to have reached 20pc – the highest since the financial crisis – as inexperienced workers carry the brunt of the crisis.
4) Microsoft boosted by Covid as sales of cloud and video games increase: Demand for cloud computing, tablets, and video games has prompted Microsoft sales to jump as more people work, play, and socialize remotely.
5) As part of the brutal rivalry between Monzo and Starling Bank: Insiders reveal bitter personal and professional rivalry between Anna Boden and her former protégé Tom Blomfield.
What happened overnight
УEquity futures fell on most Asian stock exchanges as concerns surfaced about the impact of a worsening pandemic on economic activity in some parts of the world. The dollar jumped relative to its larger peers.
Shares fell in Japan and Hong Kong, with trading in South Korea. S&P 500 futures retreated and European contracts fell about 1.5%. Shares of Microsoft slipped in extended trading because the earnings forecast in some departments was not in line with the forecasts of top analysts.
The Chinese yuan was stable as traders boiled over news that the nation’s banks had given up on including a key factor used to calculate the currency’s daily reference rate. The revenues of the Ministry of Finance decreased.
Instability remains heightened as the possibility of a stimulus package to the United States before next week’s elections fades, and analysts warn that Bo Biden will not be expected to defeat President Donald Trump.
In China, indicators monitored by Bloomberg showed that the recovery continues to show mixed signals, while in October it remains generally stable.
Corporate: GlaxoSmithKline (Temporary); Elementis, Johnon Laing Group, Next (Trading Statements)
Economy: Economy Consumer trust (France), trade balance of goods (USA)