US stocks fell tonight as New York State followed California in ordering non-key workers to stay at home and the UK caught up with the rest of Europe by ordering the closure of pubs and cafes to fight the deadly Covid-19 outbreak.

Major airline groups including Aer Lingus owner IAG have reported strong earnings for the first half of the year, boosting faith in a sector which is finally taking off for investors.

CityJet founder Pat Byrne has said the airline’s transformation will be helped by greater access to credit after sealing a deal to buy the airline from its German owner, with the help of investors.

When it comes to the long-term national economic effects on western cities from outrages such as the killings in Paris, history tells us that the size of the attack does matter.