5 things to start your day
1) Airline regulators are expected to launch a crackdown this week on carriers who have failed to reimburse families for flights canceled due to coronavirus, as the industry rebels over new restrictions on Spain. The Civil Aviation Authority has reportedly compiled a list of the worst culprits, with millions of customers still owing billions of pounds after being told they couldn’t fly.
2) Europe’s stimulus deal is already collapsing. The EU Stimulus Fund was not designed for immediate liquidity problems, writes Ambrose Evans-Pritchard. Italy is already warning that the money will not come soon enough to avoid a liquidity squeeze in the fall.
3) Double glazing sellers claim that Rishi Sunak’s donation of green houses has backfired and put more than 10,000 jobs at risk. The program was announced earlier this month, but will not take effect until September, dealing a blow to the industry as potential buyers delay the start, bosses said.
4) Could direct shopping change online selling for good? The shopping chain has remained largely unchanged since emerging into the intoxicating consumerism of 80s America, drawing thousands of desperate viewers to everything from a new refrigerator to a necklace. Now, however, the digital world is finally catching up.
5) Trade groups warn of a buildup of paperwork on Brexit. Ministers said earlier this year that around 50,000 more people from the private sector would be needed to meet customs demand when Britain leaves the single market, although that number may be lower if a trade deal is struck.
What happened during the night
Asian stock markets have been mixed, with gold surging to a record high price on Monday amid U.S.-China tensions and fears the recovery from the coronavirus pandemic may weaken.
Tokyo retreated while Shanghai and Hong Kong swung between gains and losses. Australia has moved forward.
Tokyo’s Nikkei 225 index fell 0.5 pc to 22,629.30 while the Shanghai Composite index was little changed at 3,197.47. The Hang Seng in Hong Kong lost 0.1 pc to 24,668.14.
The Seoul Kospi advanced 1.1 pc to 2,226.56 and the Australian S & P-ASX 200 was below 0.1 pc at 6,022.90. New Zealand lost 0.4% while Singapore and Jakarta advanced.
Gold jumped $ 30 to a record $ 1,927.60 an ounce, a sign that investors were looking for safe havens to park their money.
IFO Business Climate Index (Germany)