Happy for EU

Get straight to the good stuff with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

EU leaders strike deal

After 4 long nights of talks, the European Union has agreed a €750 billion deal to support its 27 members in their post-coronavirus economic recovery. The package includes grants and loans to enable governments to continue spending.

Homes on the high street?

Forget trying to revitalise shops; high streets should be transformed into residential hubs. That’s according to a report from the Social Market Foundation (SMF). Even before coronavirus, the traditional high street was struggling, and the recent boom in online shopping and home working has put its future at even greater risk. The SMF’s answer? Turn empty shops into 800,000 homes and let people live in town centres.

Payday for Musk

Tesla’s market capitalisation (what its shares are worth on the open market) has just passed $150 billion and its owner, Elon Musk, gets a $2.1 billion payday. The electric car maker’s share price has enjoyed a long bounce. It’ll find out later today if it turned a profit last quarter, which would mean Tesla shares can enter the S&P 500 index on Wall Street.