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FT News Briefing

Eurozone economic forecast sinks, UK businesses plea support, aerospace and Brexit

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.41.3K Ratings

🗓️ 2 November 2020

⏱️ 11 minutes

🧾️ Download transcript

Summary

Fresh lockdowns in Europe announced have triggered a flurry of downgrades to economic growth forecasts, and UK business leaders have called for more financial help from the government to support crisis-hit companies. Plus, the FT’s Peggy Hollinger explains how Brexit will affect an already hard hit aerospace industry.  


Eurozone economic forecasts slashed as fresh lockdowns imposed

https://www.ft.com/content/3269f590-1cac-411f-8320-110c91c1f12e


Business seeks state support as it faces England lockdown

https://www.ft.com/content/adfebb62-2f01-4c4a-bdc6-8bf8ff621850



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Transcript

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0:00.0

Good morning from the Financial Times.

0:01.6

Today is Monday, November 2nd.

0:03.7

And this is your F.T. news briefing.

0:06.0

Economists have dampened their hopes for a recovery in Europe

0:11.8

after the latest wave of lockdowns.

0:14.0

And the UK's lockdowns have business leaders searching for support.

0:18.0

Plus, it's no secret that the aerospace sector has been one of the hardest hit industries during the pandemic.

0:24.0

So what will Brexit do to aircraft makers?

0:26.0

We'll have an aerospace expert on to talk about it.

0:29.0

I'm Mark Filipino, and here's the news you need to start your day.

0:33.0

The

0:35.0

The coronavirus winter that everyone's

0:38.0

the coronavirus winter that everyone's been worried about for months, well, it looks like it got here early.

0:47.0

Coronavirus cases have been surging across Europe, and several countries, France, Germany, Italy, Spain have all entered lockdowns,

0:54.8

which means on the economic recovery side of things,

0:57.6

well that's not looking too good either.

0:59.7

The FT surveyed 18 economists and they expect the Eurozone economy to shrink by 2.3%.

1:06.0

That's worse than what they predicted before the restrictions were announced.

1:09.5

The chief economist at Barclays told the F.T. that manufacturing has held up relatively well, but there are still major concerns about the service economy.

1:17.0

Despite the sour outlook, economists say countries have two things going for them.

1:22.0

One, these countries have been around the block

1:24.1

and they understand how to cope with lockdowns

...

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