Britain’s manufacturing sector showed signs of stabilising last month to emerge from the longest downturn since the financial crisis, according to the latest PMI.
Opec is reportedly considering cutting oil output by around 500,000 barrels per day in order to boost the slump in crude prices, according to Reuters. Demand for oil has fallen amid the coronavirus outbreak, causing prices for benchmark Brent crude to fall by around $10 to $56.47.
The EU has published its draft negotiating guidelines for the Brexit trade talks, setting out its stall ahead of discussions starting in earnest.
Ryanair Holdings (RYA) reported profit after tax of €88m euros (£74m) for the three months to the end of December, the third quarter of its financial year.
Chinese stock markets plunged on Monday in a delayed investor reaction to the coronavirus outbreak that has seen increasing numbers of confirmed cases.
Nissan has reportedly drawn up contingency plans to pull out of manufacturing in mainland Europe in the event of a hard Brexit in favour of ramping up its production in the UK.
The FCA has warned credit card firms against the blanket suspension of cards of consumers who are stuck in a debt spiral, telling them to reduce or waive interest and other charges instead.
Britain’s energy regulator, Ofgem, has said it will change how it governs the industry to help meet the government’s climate targets, after coming under fire for failing to prioritise the climate emergency.
