Coronavirus crisis drags down Flybe, as Wall Street slides again – business live

Coronavirus crisis drags down Flybe, as Wall Street slides again – business live

IATA warns Covid-19 will cost airlines up to $113bn in revenue this year, as regional airline Flybe collapses, and experts fear others will follow

  • Latest: CMA warns against price-gouging
  • HSBC sends some staff home at Canary Wharf
  • IATA says coronavirus could cost airlines over $100bn
  • Breaking: Flybe fell into administration today
  • How have you been affected?

4.12pm GMT

More and more companies are asking staff to work from home, or reining in their travel plans.

In the US, Amazon and Facebook are encouraging their employees in Seattle to stay home after workers for each company tested positive for Covid-19.

Amazon revealed earlier this week that one of its Seattle-based employees has been diagnosed with the virus. On Wednesday, Facebook said a contractor who works at one of its offices in Seattle had tested positive.

UK pay TV giant Sky bans all staff moving between offices in the country due to coronavirus, while also closing Sky Academy and banning non-staff from entering Sky Studios.

3.56pm GMT

The market turmoil has provided one benefit for Americans – mortgages rates are now their lowest ever.

Associated Press explains:

The average rate on a 30-year fixed mortgage has hit a record low of 3.29%, driven down by investors shifting money into the safety of U.S. Treasurys as the viral outbreak deepens.

Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year loan this week tumbled from 3.45% last week. The new rate is the lowest level since Freddie Mac started tracking it in 1971, the company says.

Continue reading…

Source link