Corporate confidence slumps to all-time low

Confidence among UK businesses has hit its lowest level on record as it emerged a year’s worth of profit warnings had already been issued in 2020.

Companies have contracted operations and furloughed staff en masse due to the pandemic, which looks likely to cause a greater economic catastrophe than the 2008 crisis.

As a result, 83pc of chief financial officers (CFOs) at Britain’s largest publicly traded companies are less optimistic than they were three months ago, according to the Deloitte CFO Survey.

The restrictions on trade also caused FTSE 350 companies to publish 301 profit warnings before the end of

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