Moody’s Analytics Chief Economist Mark Zandi says investors are too optimistic about a quick economic rebound from the coronavirus pandemic. He explains what policymakers should do to boost the recovery and discusses longer-term changes in the economy.
The Bank of England has warned that the UK is heading for an unprecedented recession. It says the economy is on course for the sharpest annual contraction for 300 years, with the coronavirus pandemic dramatically reducing jobs and incomes.
The Governor of the Bank of England said the economy is expected to contract by 14%, twice as big a downturn as the great crash of 2008. Unemployment could double to 9% although the Bank of England is forecasting that the economy will bounce back next year.
Meanwhile The Prime Minister will make a public statement on Sunday setting out the next stages of lockdown and any plans to ease it. But Boris Johnson has said his government will "advance with maximum caution".
In Scotland First Minister Nicola Sturgeon has made clear that she will not be pressured into acting too early to ease the lockdown, saying getting it right is “a matter of life and death”.
Sophie Raworth presents BBC News at Ten reports from Economics Editor Faisal Islam and Political Editor Laura Kuenssberg.
CNN's Michael Smerconish talks with Dr. Jean Twenge, author of the new book "iGen", about a new study by researchers at the University of Pennsylvania that found limiting social media use can decrease loneliness and depression.
Analysis by Sky News of different recessions throughout UK and US history has found that the UK's recovery is now weaker than the American recovery after the Wall Street Crash of 1929.
The former head of the CBI and the Financial Services Authority, Lord Turner, told Sky News that something has gone "deeply wrong" with capitalism.
He said: "We have a whole load of people who in 2018 have real wages which are below where they were in 2007."
The bank known for the bailout is RBS which remains linked to the crisis with the biggest shareholder being the British government, a hangover from the emergency bailout of 2008.
Sky’s Ed Conway looks back at what this could mean for the Chancellor and if the past decade will be seen as the UK's depression in future.
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