Economic impact of coronavirus could exceed Sars, China economist warns – business live

Rolling coverage of the latest economic and financial newsLatest: China economist predicts growth will sufferHong Kong stocks slide amid virus worriesBA suspends flights; Toyota keeps factories closed 2.01pm GMT Back in the markets, the oil price is rallying following reports of an attack on Saudi Arabia’s oil facilities.Not much detail yet, but Brent crude rallied by over 1.2% to $60.25 per barrel.Crude futures surged as much as 1.7% in New York on reports of the attack https://t.co/p5DtzftuuR #OOTT pic.twitter.com/0UU9N6ivMQ 1.31pm GMT Back in the UK, another rail operator has been taken out of private hands into the tender care of the government.Northern Rail, which operates services (badly) in the North of England will be nationalised on the first of March. The government has run out of patience over the litany of problems – from cancelled trains and carriage shortages to faulty ticket machines and a lack of drivers. Transport Secretary, @grantshapps has announced that @northernassist will now be operated by the government from 1 March 2020. Passenger journeys will not be affected. For more information https://t.co/9dxAoYHqeE pic.twitter.com/fwWav2TL3U51% of Britons – including 65% of Northerners – support the decision for Northern rail to be put into public ownership. Only 12% oppose it https://t.co/2dYLp4vMJz pic.twitter.com/KYDKFbyF5X Related: Northern rail franchise to be renationalised Continue reading…
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