Oil prices stage brief rise thanks to Fed coronavirus action March 24, 2020 Oil prices rallied today after a torrid day yesterday. Brent crude was up to almost $28 a barrel and WTI crude futures is at $23, a four per cent rise on yesterday. This has been attributed to pledge from the Federal Banking Reserve to dramatically increase support for US business, although the US Senate could [...]
US coronavirus: Trump aims for business as usual by Easter March 24, 2020 President Donald Trump said he wants to reopen the US within less than a month, despite the coronavirus pandemic that is spreading across the country. Millions of Americans are currently under state orders to stay at home, however Trump has indicated that he wants to get the economy up and running again as soon as [...]
Coronavirus: Government goes to war with City Hall over London Tube restrictions March 24, 2020 The government and City Hall are at war over Transport for London’s decision to restrict the Tube’s services, which has forced remaining commuters to cram into available carriages. Last week, TfL shut 40 stations and reduced the usual weekday service with some lines only running a train every 10 minutes. The Waterloo & City shuttle [...]
London coronavirus lockdown: Which Tubes and buses are still operating? March 24, 2020 Boris Johnson’s address to the nation last night confirmed what many had thought inevitable. From today, the UK is under a police-enforced coronavirus lockdown, with people only allowed to go outside for a limited set of reasons. Public meetings of more than two people have been banned, while all stores deemed non-essential have been forcibly [...]
Waterfall secures extension to consider PSSL takeover bid March 24, 2020 Waterfall Asset Management has secured an extension to consider its proposed takeover of Pollen Street Secured Lending (PSSL). PSSL’s board sought approval for an extension from the Panel on Takeovers and Mergers after Waterfall was supposed to have made a decision on whether to make an offer by today. The asset manager will now have [...]
Coronavirus: UK death toll rises to 335 as pandemic accelerates March 23, 2020 The number of deaths from coronavirus in the UK has risen to 335, a jump of 54 in the last 24 hours. The increase is the second highest yet recorded for a 24 hour period, behind 20-21 March, when 56 deaths were recorded. As of 1pm, the Department of Health said that there were 6,650 [...]
Oil prices wallow near 20-year lows amid coronavirus price war March 23, 2020 Oil prices came close to hitting 20-year lows today, as Brent crude and West Texas Intermediate (WTI) dropped under the growing coronavirus economic panic. Brent crude fell as low as $25 a barrel before falling 2.2 per cent down at $26.40. That is still a level not seen since 2003. WTI, a US oil benchmark, [...]
Ted Baker completes London HQ sale to British Airways pension fund March 23, 2020 Ted Baker has agreed terms for the sale of its London headquarters, the Ugly Brown Building, with a British Airways Pension Trustees unit. Following the announcement of a strategic asset review in December, Ted Baker has today exchanged contracts with British Airways’ pension fund and the deal, worth £78.8m, is expected to be completed in [...]
Train operators running out of time to renew rail franchises March 22, 2020 Train operators are running short on time to agree new contracts with the government as the coronavirus outbreak continues to drive down passenger numbers. Go Ahead Group and First Group run the Great Western and South Eastern franchises respectively, the contracts for which expire on 31 March. Under the Railways Act, the government will step [...]
Goldman Sachs chief David Solomon gets 20 per cent pay rise to $27.5m for his work in 2019 March 21, 2020 Goldman Sachs chief executive David Solomon has been rewarded for his work leading the bank in 2019 with a 20 per cent pay rise. It sees his remuneration package reach a total of $27.5m, which includes $17.85m in performance-linked stock units. That comes on top of his $2m annual salary and a $7.65m cash bonus, the [...]