LIVE MARKETS: Stocks retreat as investors wait for the ECB stimulus update Spectators to close the dealerships; Aston Martin to cut 500 jobs
Markets rose today after Wall Street won surveys showing better jobs and manufacturing conditions in the United States than expected. However, the FTSE is expected to fall as the ECB prepares to hold another board meeting.
About 1,500 jobs are expected to be cut and another 12 showrooms closed at struggling car dealerships, as the group announced plans to cut costs in the face of the coronavirus crisis and a tough auto market.
Luxury car maker Aston Martin will lay off 500 people. The struggling company, whose share price has plunged since its IPO, says the reductions are due to “lower production volumes than initially forecast and improved productivity across the board.” ‘company”.
More than three-quarters of workers are ready to see higher tax rates to help the country get out of the £ 300 billion financial black hole it faces, according to new polling findings.
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