UK furloughed workers could be allowed back to work part-time but as many as 1.2m could lose their job completely as businesses struggle to keep the doors open (The Telegraph).
This comes as chancellor Rishi Sunak is told to extend the furlough scheme until September - a move he is likely to announce as soon as this week - to avoid spiralling job losses over the summer (The Guardian). Sunak has however warned that the scheme - covering 80% of the wages of over 6m workers - was not sustainable at this rate, and it is thought to be reduced to 60% (BBC).
Morrisons, Asda and Tesco have cut petrol prices to less than £1 per litre, the lowest national price in four years, following a collapse in global oil demand (The Guardian, BBC).
Britons are splashing out cash on home comforts amid the coronavirus pandemic, spending an extra £47m on TV, gaming, food and alcohol, according to research by insurer Legal & General and the Centre for Economics and Business Research think tank (The Telegraph).
China has suspended imports of red meat from Australia in a move thought by analysts to be “politically motivated punishment” for Canberra’s call for an inquiry into the origins of the coronavirus pandemic (The Financial Times £).
Tequila exports soared during the coronavirus pandemic as Americans under lockdown seek the Mexican spirit. US sales leapt 60% in the four weeks to 25 April compared to the same period last year (The Financial Times £).
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