Oil hits 11-month high; China car sales keep recovering – business live

Rolling coverage of the latest economic and financial news

11.45am GMT

The boss of housebuilder Persimmon, Dean Finch, has warned that the new, more contagious Covid-19 strain is “particularly bad” and that “it could well affect output in the spring of this year”.

“We are clearly seeing customers look at how they want to live, where they want to live and whether they want to live in bigger houses as a result of the pandemic, and Persimmon is a beneficiary of that.”

“While the Group has achieved pre-Covid build rates since the end of June 2020, including during all subsequent lockdowns imposed in England, Scotland and Wales, we recognise the elevated risk to the Group’s planned build programmes presented by the higher transmission rates of the new variant of the Covid-19 virus.”

10.56am GMT

Morrisons has been applauded for guaranteeing to pay its store workers at least £10 an hour, becoming the first UK supermarket to do so.

“We’d love to see Morrisons accredit with the Living Wage Foundation to ensure that all staff earn a wage that covers the true cost of living, including outsourced cleaners, security guards and trolley collectors.”

“Every worker should be paid a fair wage they can live on. It’s just wrong that so many of our key workers, including in sectors like supermarkets and care, are being asked to survive on low pay.

Related: Morrisons to be first UK supermarket to pay minimum £10 an hour

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Source: theguardian
Oil hits 11-month high; China car sales keep recovering – business live