Skip to content
Search

Latest Stories

Rishi Sunak says GDP may fall 30 per cent due to COVID-19

Britain's gross domestic product (GDP) could fall by up to 30 per cent between April and June, finance minister Rishi Sunak told his colleagues as members of the cabinet call for easing lockdown restrictions amid the COVID-19 outbreak, reports said.

Sunak discussed the possibility of a 25 per cent to 30 per cent fall in GDP in the second quarter.


Reports revealed that ten ministers were pressing for the lockdown to be eased in May.

The report, however, did not identify those ministers.

"It's important that we don't end up doing more damage with the lockdown. We're looking at another three weeks of lockdown and then we can start to ease it," a minister said.

More For You

TCS North America AI deals

A Tata Consultancy Services campus as the firm reports steady AI-led growth alongside profit pressures.

X handle/TCS

TCS breaks two-year North America slowdown on AI deals

  • AI services drive quarterly revenue slightly above forecasts.
  • North America returns to growth after a two-year slowdown.
  • Net profit slips amid restructuring and legal costs.

India’s Tata Consultancy Services has posted third-quarter revenue marginally above market expectations, helped by steady demand for artificial intelligence-led services and a long-awaited pickup in its North America business.

The company, part of the Tata Group, reported consolidated revenue of about £5.86 billion ($7.44 billion) for the quarter ended December 31, up 4.9 per cent year on year. Analysts had been expecting roughly £5.26 billion, according to LSEG-compiled estimates.

Keep ReadingShow less