Plans for lifting lockdown?

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.

Plan for reopening economy

Prime Minister Boris Johnson is back at work and has promised to provide a “menu of options” next week for how we can begin to lift the lockdown. Plans for looser restrictions will prioritise boosting the economy, reopening workplaces, and getting children back to school.

House price uncertainty

The outlook for the housing market is “highly uncertain” according to Nationwide. UK house prices were still rising until recently with annualised growth of 3.7% last month, but coronavirus has now put a stop to that. The outlook for the rest of the year is hard to predict; it all depends on how well the rest of the economy holds up.

RBS profits halve

Like all the other major banks, RBS has reported a big drop in profits (paywall) as it sets aside extra cash to cover an expected jump in bad loans. The bank, which is part-owned by taxpayers, said its profits fell 49% in the first quarter. To save some cash, it’s binning its digital banking spin-off, Bó, which launched last November.

Big beer giveaway

A brewery in Northumberland has started giving away casks of beer for free after it was left with a surplus on its hands. The Alnwick Brewery Company is asking punters to turn up with their own containers to take away the brew, which would go bad within a month otherwise. Its only other request? Make a donation to support the NHS.

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