Rolling live coverage of business, economics and financial markets as European economy suffers its worst recession since at least 1995
- Germany, Spain and France all record deep contractions
- British Airways owner to raise €2.75bn after record loss
- UK house prices rise at fastest since 2009
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With the easing of the UK’s lockdown being slowed and the economic data showing record recessions in major economies, it looks like the rest of the summer will be difficult.
Eurozone data this morning confirmed that the economy contracted at a record rate of 12.1% as the pandemic took its toll.
The talks began in recent months after Nvidia approached SoftBank, which has been pursuing a series of other asset sales, about a potential acquisition. There is no guarantee that the discussions will result in a sale, the people cautioned, adding there were a number of issues pertaining to a deal that would need to be resolved.
Brexit on Amazon
Buying Arm would further consolidate Nvidia’s position at the centre of the semiconductor industry, at just the moment when the British chip designer’s technology is finding broader applications beyond mobile devices, in data centres and personal computers including Apple’s Macs.
Checking in on the FTSE 100, it feels like a very sleepy day on the London Stock Exchange: the main index has sagged by 0.22%.
British Airways owner IAG is the biggest faller, down by 7.4%, after announcing £2.5bn in fundraising plans. BT shares have lost 4.4%.