Government resists calls for Eurostar bailout despite £400m debt pile April 6, 2021 The government has resisted calls for a bailout for cross-Channel train operator Eurostar, despite the company teetering towards bankruptcy. Eurostar has until June to repay £400m loans that it took out to bolster a collapse in revenue after passenger numbers plummeted during the pandemic. Chancellor Rishi Sunak last year unveiled a scheme called Project Birch to [...]
Credit Suisse takes £3.4bn hit from Archegos Capital collapse April 6, 2021 Credit Suisse have confirmed this morning that the collapse of US hedgie Archegos Capital will cost them a cool £3.4bn. A trading update sent to markets this morning said the CHF 4.4bn charge would send the bank to an expected pre-tax Q1 loss of around CHF 900m (£690m). The bank blamed “the failure by a [...]
Exclusive: Finance professionals want more flexible working week post-Covid April 6, 2021 People working in financial services want to see changes to their working week post-Covid, like flexible hours or choosing where to work from. More than half (54%) of financial services employees want their organisation to offer alternative working patterns such as flexible hours or the option of remote working, according to new research from Deloitte. [...]
UK launches £75bn Covid Recovery Loan Scheme April 6, 2021 Businesses will from today be able to apply for new government-backed Covid-19 “recovery loans” through a £75bn scheme. The new loan programme will see businesses able to apply for loans of between £25,001 and £10m, with the government taking on 80 per cent of the default risk of each loan. The new loan scheme, announced [...]
Mid-sized firms set for investment and hiring spree as UK exits lockdown April 5, 2021 Mid-sized firms set to splurge on investment and new hires as UK exits lockdown
Boris Johnson warns England to not book summer holidays abroad yet as traffic light system confirmed April 5, 2021 Boris Johnson warns England to not book summer holidays abroad yet as traffic light system confirmed
Boris Johnson: Central London’s post-Covid recovery ‘may take a while’ April 5, 2021 Boris Johnson has said that central London’s economic recovery “may take a while” post-Covid as he today confirmed pubs and restaurants will reopen next Monday. Johnson said at today’s press conference that he thinks “the London economy is capable of bouncing back very strongly”, particularly “when we get the life going again in the artistic, [...]
Boris Johnson confirms England’s pubs and non-essential retail will open Monday as vaccine passports given green light April 5, 2021 Boris Johnson has today confirmed pubs, restaurants and non-essential retail across England will reopen on 12 April as a large section of the country’s economy is released from Covid-19 restrictions. The government also confirmed that retail and hospitality businesses will be allowed to use new Covid vaccine certificates to determine whether people can enter their [...]
GameStop shares slump as it plans $1bn post-rally stock sale April 5, 2021 GameStop shares slump as it plans $1bn post-rally stock sale
Boris Johnson to urge everyone in England to take two Covid-19 tests a week April 5, 2021 Boris Johnson will today urge people in England to take two rapid Covid-19 tests a week so that “we can get back to seeing the people we love”. The government is planning on making two rapid Covid tests available to everyone in the country on a weekly basis, regardless of whether people have symptoms or [...]