England gets ready to reopen gyms, pools and nail bars as Covid-19 lockdown eases - as it happened

Rolling coverage of the latest economic and financial news as England's leisure businesses prepare to re-open

• Gyms, pools and salons to reopen shortly in England
• Scots to be allowed to meet indoors as Welsh pubs and cafes to open outdoors

3.03pm BST

2.53pm BST

Cruise ship operator Carnival says it is planning for a phased return to operations after being forced to stop running cruises in mid-March.

However, it is still expecting to report a net loss for the second half of 2020, and will burn around $650m per month over the final six months of the year.

The company expects to resume guest operations, with ongoing collaboration from both government and health authorities, in a phased manner.

The pause in guest operations is continuing to have material negative impacts on all aspects of the company's business.

2.35pm BST

Wall Street is open for trading and it looks like investors are moving cautiously following Thursday's record one-day surge in Covid-19 cases in the US:

2.15pm BST

NEWS FLASH: Boohoo has effectively been dumped by one of its biggest shareholders, Standard Life Aberdeen, over its response to allegations over poor working conditions across its supply chain.

The asset manager has sold 27 million shares since last week, eliminating its holding across three of its ethical funds. A spokesperson for SLA said that while it still held Boohoo stock in other funds, it was not significant."

While we would have liked progress to have been quicker we did feel that progress was being made.

However, in the last few weeks our concerns have grown on the progress being made, which even before recent developments, had negatively impacted our conviction levels in the company. Having spoken to Boohoo's management team a number of times this week in light of recent concerning allegations, we view their response as inadequate in scope, timeliness and gravity.

1.53pm BST

DATA FLASH: US producer prices unexpectedly dropped 0.2% in June compared to a month earlier, after rising 0.4% in May.

Economists had been expecting a monthly rise of 0.4%, according to a Reuters poll.

1.30pm BST

Turns out only 21 % of people in UK are comfortable with eating indoors at a restaurant now that restrictions are being lifted.

According to a survey by the Office for National Statistics, 60% of people are either uncomfortable or very uncomfortable with the idea.

12.54pm BST

The hospitality chain the Restaurant Group (TRG) has said that one in 10 of its restaurants and pubs will not reopen this year, with the sector struggling to recover after the coronavirus lockdown.

The owner of chains including Wagamama, Frankie & Benny's, and Garfunkel's has reduced its overall business to about 400 locations, down from more than 600 at the start of 2020.

Related: One in 10 of Restaurant Group outlets will not reopen this year

12.25pm BST

As some Britons prepare to travel again, Admiral is reinstating the sale of travel insurance to new customers.

Admiral started selling cover to new customers from 7 July, according to Reuters, and is one of the first in the UK to do so. Its policies will cover medical expenses and repatriation related to Covid-19 but not for cancellations due to the virus.

Direct Line will resume the sale of new travel insurance policies once we are confident that we can provide cover that meets the needs of our customers.

11.21am BST

Time to check in on markets.

Major indices across Europe that started in the red are now trading in positive territory:

10.59am BST

Don't expect the cruise ship industry to bounce back anytime soon - at least not due to demand from the UK.

The UK's Foreign and Commonwealth Office (FCO) issued a statement on Thursday advising people not to embark on sailings due to the coronavirus pandemic.

Related: Foreign Office urges holidaymakers to avoid cruise ships

10.41am BST

While the reopening of leisure businesses this month only affects England, there are also easing measures taking place in Scotland and Wales.

In Scotland:

Related: Scots to be allowed to meet indoors as Welsh pubs and cafes to open outdoors

10.18am BST

BREAKING: UK regulator Ofcom has fined Royal Mail 1.5m for missing its first class delivery targets in 2018/2019.

It was meant to deliver at least 93% of first-class post across the UK within one working day of collection but only managed to deliver 91.5% on time. Ofcom said the company's performance improved in 2019/2020 after taking into account the impact of Covid-19.

We have today fined Royal Mail 1.5 million for failing to meet its first-class delivery target in 2018/19. https://t.co/fm3XQFgiAf

Many people depend on postal services, and our rules are there to ensure they get a good service, at an affordable price.

Royal Mail let its customers down, and these fines should serve as a reminder that we'll take action when companies fall short.

10.04am BST

The Gym Group, one of Britain's largest operators of low-cost gyms, has set out plans to reopen almost all of its establishments in England from 25 July, with Covid-19 measures including apps for customers to check if gyms are busy.

Initially, 160 of its 179 branches will open on the first date permitted under government guidelines issued on Thursday, with the remainder - in Leicester, Scotland and Wales - to follow when restrictions are relaxed.

@OliverDowden, thank you so much for announcing that our gyms can reopen in England on Saturday 25 July. We're ready and we're absolutely delighted. We can't wait to see people training safely in our gyms. If you fancy it, we've reserved some kit for you too. #WorkOutToHelpOut pic.twitter.com/CpaP0WqiBS

We are in the process of unfurloughing our colleagues, who will be ready to open the doors of our gyms in England on 25 July and in the other home nations once restrictions are lifted. We are encouraged by the response of our members, the vast majority of whom are keen to get back to the gym to begin working out again.

Related: Gym Group to reopen most branches in England from 25 July

9.53am BST

BREAKING: Moody's has said it expects to see UK GDP contract 10.1% this year and a sharper peak-to-trough contraction than any other G20 economy, Reuters reports.

The ratings agency has also said that it expects a significant deterioration in theUK's deficit and public debt ratio this year.

9.48am BST

NEWSFLASH: The Competition and Markets Authority has received more than 17,500 complaints from consumers who have had difficulties with package holiday companies over cancellations and refunds following the coronavirus outbreak.

The CMA said it expects consumers who are entitled to refunds to be paid what they're owed.

The CMA is particularly concerned about the harm which consumers are suffering in the package travel sector.

Intelligence suggests that businesses may not be providing the refunds required by consumer law when package holiday contracts are terminated as a result of COVID-19.

Although we were sympathetic to the challenges faced in the early days of the pandemic, it is nonetheless important that businesses comply with consumer law.

9.34am BST

The upward revision to IEA oil demand forecasts have not really moved the dial on oil prices, with Brent crude still trading lower by nearly 1.2% on Friday morning.

WTI is down nearly 1.5%.

9.17am BST

NEWS FLASH: The International Energy Agency has raised its forecasts for oil demand in 2020 to 92.1 million barrels per day, which is a 400,000 bdp increase from its outlook last month.

The IEA said this is mainly because the decline in 2Q20 was less severe than expected."

While the oil market has undoubtedly made progress since Black April", the large, and in some countries, accelerating number of Covid-19 cases is a disturbing reminder that the pandemic is not under control and the risk to our market outlook is almost certainly to the downside.

9.04am BST

While England's gym owners, tattoo artists and beauticians are scrambling to get ready to open their doors, it's worth keeping their expectations low as consumers seem hesitant to return to old habits during the pandemic.

The BRC numbers serve as a warning on this front, as do figures around the pub and goers following their reopening on Super Saturday" last weekend.

When bars and restaurants began reopening in the US during May, it was only after a couple of weeks that sales reached 54% of pre-Covid levels.

It is going to take time for the trade to return but this provides a foundation on which to build consumer confidence and adapt and improve operations.

Related: Pubs and restaurants in England trade at half their pre-virus levels

8.43am BST

The British Retail Consortium has also flagged that a no-deal Brexit will push up the price of food and household goods.

The cost of household staples, ranging from meat and cheese to school uniforms and drinking glasses, will substantially increase if there is no Brexit trade deal, my colleague Lisa O'Carroll writes.

Related: No-deal Brexit will raise cost of UK household staples, say retailers

8.28am BST

The latest figures released by the British Retail Consortium show that shoppers were still cautious about returning to the high street even after non-essential stores were allowed to reopen in England on 15 June.

With lockdown measures easing, consumers are slowly re-emerging onto their high streets, shopping centres and retail parks. Footfall levels are still well below pre-coronavirus levels; however, the decline was softer than it was in May thanks to the reopening of non-essential stores on 15 June.

The chancellor's economic update earlier this week provided critical interventions to protect jobs and incomes for households across the UK. We hope that some of the generous measures taken to support the hospitality industry will benefit footfall for retailers who are in close proximity to restaurants, bars and cafes.

However, unless footfall returns to UK streets, Government must be prepared to step in and take further action to boost demand, such as widening the VAT cut to include retail goods.

8.09am BST

So here's a rundown of what is reopening in England and and when:

Saturday 11 July: Outdoor pools. Outdoor theatre and music with limited audiences.

Related: Gyms, pools and salons to reopen shortly in England

8.03am BST

It's red across the board as stock markets open for trading in Europe:

7.52am BST

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Gyms, nail bars, and pools will be among leisure businesses allowed to reopen in England this month after the UK government unveiled the latest easing measures following the coronavirus lockdown on Thursday.