UK enters recession with record quarterly decline of 20% – Live Updates


4) Airbnb pushes towards IPO as it recovers from travel crisis: The company plans to confidentially file an initial public offering as early as this month, The Telegraph understands. The company could be worth more than $ 30 billion (£ 23 billion) after emerging from the pandemic-induced travel crisis stronger than many expected.5) financier defends role in controversial £ 253million PPE deal: Tim Horlick – whose company Ayanda Capital won the taxpayer-funded contract at the height of the Covid crisis – rejected suggestions from cronyism. He said Ayanda had the skills for the job despite questions about his previous experience in the industry.

What happened during the night

Shares were mostly lower in Asia on Wednesday after Wall Street curbed its recent rally.

Tokyo’s Nikkei 225 index rose slightly while the Shanghai Composite index fell 2 pc.

Overnight, a late fall by big tech companies left indexes significantly lower on Wall Street, breaking a seven-day winning streak for the S&P 500.

A discouraging lack of progress in negotiations over increased economic aid for the US economy, coupled with concerns over the coronavirus pandemic and tensions between the US and China, has prompted investors to sell off and lock in profits recent gains, analysts said.

The Nikkei 225 gained 0.4% to 22,848.24, while Hong Kong’s Hang Seng edged down 0.2% to 24,845.57. In South Korea, the Kospi was flat, at 2,418.32. The Shanghai Composite Index lost 66 points to 3,273.75. The Australian S & P / ASX 200 was down 0.5% to 6,107.20.

Shares fell in Taiwan, India and most countries in Southeast Asia.

Coming today

Intermediate results: Admiral Group, Avast, Balfour Beatty, Capital & Counties, CLS, Hostelworld, Just Eat, M&G, Spirax-Sarco

Economy: T2 GDP, sector indices, trade balance (United Kingdom); industrial production (euro zone); inflation (United States)


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