European Economics Preview: UK Inflation Data Due

Consumer and producer prices from the UK are due on Wednesday, headlining a light day for the European economic news.

At 3.00 am ET, unemployment data is due from Norway. The jobless rate is seen unchanged at 3.9 percent in January.

At 4.00 am ET, producer prices from Spain and industrial production from Austria are due.

Half an hour later, Statistics Sweden is slated to issue producer prices for February. Prices had fallen 0.4 percent on year in January.

At 5.30 am ET, the Office for National Statistics releases UK consumer and producer prices for February. Inflation is expected to slow marginally to 1.7 percent from 1.8 percent in January.

UK output prices are forecast to rise 0.9 percent on year in February, slower than the 1.1 percent rise in January.

At 7.00 am ET, the Confederation of British Industry publishes Distributive Trades survey data. The retail sales balance is seen at -12 percent in March versus +1 percent in February.

Amazon Disables Supply Of Non-essential Items Amid COVID-19 Pandemic

Amazon.com (AMZN) is suspending shipments of nonessential items to its warehouses in the US and the UK following shortages caused by the ongoing Covid-19 coronavirus pandemic.

“We are seeing increased online shopping and as a result some products such as household staples and medical supplies are out of stock,” the online retail giant said in a statement. “With this in mind, we are temporarily prioritizing household staples, medical supplies and other high-demand products coming into our fulfillment centers so we can more quickly receive, restock and ship these products to customers.”

The company said that for products other than these, it has temporarily disabled shipment creation. The new shipment freeze will be in effect through April 5, 2020.

The company also announced that it is opening 100,000 new full- and part-time positions in fulfillment centers across the US.

Leon’s Furniture to lay off 3,900 workers, close 72 stores amid COVID-19 pandemic

Leon‘s Furniture Ltd. is laying off 3,900 employees or about half its total current workforce as it deals with the COVID-19 pandemic.

The company says it will temporarily close 72 of its 205 corporate-owned stores across Canada.

Food stolen from Peterborough porch

The back porch of a Hunter Street home was targeted twice by thieves who snatched booze and food on two occasions, Peterborough police say.

Police say the thefts happened between 5 p.m. March 17 and 7 a.m. March 18 and again between 5 p.m. March 23 and 5 p.m. March 24.

Both times an unknown person or persons entered the home’s rear porch and stole food and alcohol, police say.

Anyone with information is asked to call police or Crime Stoppers.

Stock Alert: Boeing Rises 13%

Shares of The Boeing Company (BA) are climbing more than 13% Wednesday morning.

Boeing is planning to restart the production of grounded 737 MAX by May, Reuters reported, citing people familiar with the matter. As per the report, Boeing has asked some suppliers to get ready to ship the parts of 737 MAX in April.

Airlines stocks are continuing their rally from yesterday after the U.S struck a $2 trillion coronavirus relief package deal.

BA is currently trading at $144.82. It has traded in the range of $89- $398.66 n the past one year.

Brazil's private equity firm IG4 Capital closes new Latam private equity funds

SAO PAULO, March 25 (Reuters) – IG4 Capital has secured $ 231.5 million in commitments for the final close of its Private Equity Fund II, focused on special opportunities in Latin America, raising the total managed by IG4 to $500 million.

IG4 has also raised additional co-investment commitments for the IG4 Capital Infrastructure Investments, which will target infrastructure and logistics assets in the Andean Region in South America. (Reporting by Tatiana Bautzer Editing by Chizu Nomiyama)

Portugal government sees 2020 recession due to coronavirus outbreak

LISBON, March 25 (Reuters) – Portugal’s finance minister Mario Centeno said on Wednesday that all scenarios pointed to a recession this year due to the impact the rapidly-spreading coronavirus will have on the economy.

“We are working on scenarios to return to normality, but we will always be talking about a scenario of annual recession,” Centeno told a news conference. “It will be stronger the longer we take to return to the activity that was underway before March 15.” (Reporting by Catarina Demony and Sergio Goncalves, editing by Andrei Khalip)

UK's Johnson wishes Prince Charles speedy coronavirus recovery

LONDON (Reuters) – British Prime Minister Boris Johnson has wished Prince Charles a speedy recovery following news that the 71-year-old heir to the British throne has contracted coronavirus, Johnson’s official spokesman said on Wednesday.

“The Prime Minister wishes the prince a speedy recovery,” the spokesman told reporters at a briefing.

Charles’s household said the prince was displaying “mild” symptoms of the disease.

Stock Alert: Boeing Rises 13%

Shares of The Boeing Company (BA) are climbing more than 13% Wednesday morning.

Boeing is planning to restart the production of grounded 737 MAX by May, Reuters reported, citing people familiar with the matter. As per the report, Boeing has asked some suppliers to get ready to ship the parts of 737 MAX in April.

Airlines stocks are continuing their rally from yesterday after the U.S struck a $2 trillion coronavirus relief package deal.

BA is currently trading at $144.82. It has traded in the range of $89- $398.66 n the past one year.