Businesses will pay a price for Covid-19 even if panic dies down

The effects are already being felt and there may be worse on the way, James Moore says

Covid-19 may eclipse Blofeld as the deadliest Bond villain in the eyes of the film’s financiers (AFP/Getty)

Covid-19 is already having a far-reaching impact on a myriad of businesses even though the number of confirmed cases has yet to reach four figures on these shores

Last week was yet another a tough one for the already beleaguered retail sector.

Intu, the owner of Britain’s biggest shopping centres, abandoned its £1.5bn cash call after shareholders baulked. The company cited “extreme market conditions”. Anyone who’s been watching the FTSE 100’s gyrations will know what’s caused those.