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Morning Report: FTSE 100 opens in red ahead of US job numbers; Bail-out for Britain's buses

Headlines from the Proactive UK newsroom.

London’s leading shares are set to open on the back foot this morning ahead of the release later of US jobs figures for March.. But economists say the full scale of the rising jobless in the US economy will be revealed in next month’s figures.

Britain’s bus services are to receive a £167mln bail-out package from the government to keep services running and get essential staff to work. FirstGroup says regional bus service income has dropped 90% since the pandemic started.

George Weston, AB Foods chief executive and its finance director John Bason have both temporarily taken 50% pay cuts alongside Paul Marchant, the boss of clothing arm Primark.  AB Foods had a cash balance of £1.7bn as of last night.

Payments group Bango (LON:BGO) has expanded its strategic partnership with South Korean big data business NHN Corp. The Korean group will invest £6.5mln into the Audiens data platform business through an investment into Bango Deep where it is taking a 60% stake.

Reneuron (LON:RENE) has initiated a research programme to see if its proprietary exosomes can be used as a delivery vehicle for viral vaccines against diseases such as coronavirus. Unpublished data has shown that the exosomes can be loaded with biologically active cargo and delivered to specific places in the body. 

Salt Lake Potash (LON:SO4) is on schedule for the commissioning of its Lake Way Project in Western Australia's Goldfields region in December. Early process plant construction work is now underway.

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Market Report: FTSE 100 slides on slow economic recovery expectations

FTSE 100 slid almost 40 points to 6,131 as latest economic data highlighted the UK’s economic recovery from COVID-19 will be slow. Asian and US markets also retreated overnight. Britain’s GDP rose 1.8% in May, far less than hoped for by those predicting a V-shaped recovery. Housebuilding and...

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