What to watch: UK borrowing records, retail sales climb, BMW job cuts

The rebound was driven by a 42% surge in sales of household goods, which the ONS put down to the re-opening of hardware, paints and glass stores. The Bavarian automaker, which employs 126,000 people globally, had put some 34,000 staff onto short-hours work as production came to a halt in March after plants were forced to close as part of the nationwide shutdown to contain the spread of COVID-19. The UK’s top financial watchdog is pushing to extend credit card, loan, and overdraft relief for banking customers hit by the coronavirus pandemic. “We have been working closely with other authorities, lenders and debt charities to support consumers in the current emergency,” interim FCA chief Chris Woolard said in a statement. Where consumers can afford to make payments, it is in their best long-term interest to do so, but for those who need help, it will be there.” European stocks rose on Friday as EU leaders were set to begin a round of delicate negotiations about the bloc’s proposed €750bn (£667bn, bn) coronavirus recovery plan. Stocks were also lifted by reports that China planned to comply with its phase one trade deal with the US by increasing purchases of US farm products such as soybeans, corn, and ethanol.