Worst month ever for retail

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.

Shopping goes out of style

UK retail sales had their worst month on record in March, as shoppers ditched fashion and lifestyle goods in favour of buying up the essentials. Bricks and mortar stores suffered under lockdown with a dip of 34.1%, and online trade failed to make up the difference. By contrast, March was the best month on record for UK supermarkets.

Empty buses

The government has stepped in to cover costs for bus services that are struggling to make ends meet. Bus companies saw passenger numbers drop following the official advice to stay at home, and cut services as a result. The £167 million government bailout will keep essential routes running so that key workers can get to work.

Oil price rebounds

The price of oil has bounced at the news of a possible truce between Russia and Saudi Arabia. The two countries are huge oil producers and have been locked in a price war that triggered the fastest oil market collapse in decades. Prices are now around $30 a barrel, back up from an 18-year low of $23 a barrel earlier this week.

Gaming and streaming boom

Working from home under lockdown has left the average person with 15% more leisure time on their hands. What do we do with it? Gaming and streaming, of course. Game sales were up 63% (paywall) in the week to 22nd March, and streaming also enjoyed a 20% boost last month.