Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.
The financial fallout of coronavirus will have the biggest impact on the under 25s, women, and people on low incomes. New research from the think tank the Institute for Fiscal Studies (IFS) shows that they’re more likely to work in hard pressed sectors such as hospitality and retail. IFS boss Paul Johnson also said it will also be a tough jobs market for young grads coming out of school and university this year.
The property market will be put on ice for much of 2020 as house sales plummet from 1,175,000 last year to just 734,000 this year. The prediction by property firm Knight Frank also suggests prices will take a 3% hit in 2020, assuming that the economy shrinks by 4%. The forecast then sees property prices recover and grow by 5% next year.
Online transactions are up 170% in an online shopping boom that’s seen Brits spend 20% more than usual. Our top priorities? Fitness and fun. Free weight sales are up 270% and we’re buying five times more video games consoles than last year.
A simulated version of the Grand National attracted 5 million TV viewers over the weekend, after the real event was cancelled. The coverage used an algorithmic model that runs every year. 18-1 shot Potters Corner crossed the virtual line first, with favourite Tiger Roll coming in fourth. Bookies donated all the £2.6 million profits to the NHS.
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