Childcare subsidy scandal forces Dutch government to resign January 15, 2021 The government of Holland’s Prime Minister Mark Rutte collectively resigned today over a recent report which blamed Rutte’s cabinet for mismanaging childcare subsidies that brought financial ruin to thousands of low-income families in the Netherlands. According to Dutch state broadcaster NOS, ministers will stay on as ‘demissionair‘ – or caretaker government – until the general [...]
Supreme Court rejects insurers’ claims in landmark business insurance case January 15, 2021 The Supreme Court has largely ruled in favour of policyholders and the City regulator in the landmark business interruption insurance case. In a judgment handed down today, the court said it “substantially allowed” the appeal by the Financial Conduct Authority (FCA) and campaign groups Hiscox Action Group and Hospitality Insurance Group Action. The insurers Arch, [...]
Blackrock sells $200m China Telecom stake after US ban January 15, 2021 Blackrock has offloaded almost all of its stake in China Telecom at a significant discount following a new ban on US investment. China Telecom is one of a number of tech firms subject to a Trump administration executive order blocking American investors from owning companies deemed to have links with the Chinese military. The move [...]
Easyjet cancels all holidays until late March January 15, 2021 Easyjet has cancelled all holidays until the end of March as a result of international travel restrictions brought about by the latest lockdown. The airline is in the process of cancelling holidays booked up to and including March 24 and is contacting affected passengers to offer them a range of options, including future holiday credit [...]
England cricet team ‘unconcerned’ by Covid-19 outbreak at team hotel in Sri Lanka January 15, 2021 England are “not concerned” after two staff members at their hotel in Galle where they are playing two Test matches against Sri Lanka tested positive for Covid-19. The kitchen workers returned positive results after routine tests conducted by the hotel due to the presence of the England team, Sri Lankan media reported. “We are not [...]
Covid mutations: what we know so far January 15, 2021 A Brazilian variant of coronavirus has arrived in Britain, one of the UK’s leading scientists announced this morning. Speaking during a Science and Media Centre briefing, Professor Wendy Barclay said: “There are two different types of Brazilian variant and one of them has been detected in the UK.” Transport secretary Grant Shapps this morning insisted [...]
Business interruption case: Light at the end of the tunnel for SMEs January 15, 2021 Hundreds of thousands of businesses will today breathe a sigh of relief after the Supreme Court ruled leading insurers must pay out on business interruption policies. The court “substantially allowed” the appeal brought by the Financial Conduct Authority (FCA) and campaign groups Hiscox Action Group and Hospitality Insurance Group Action. It brings months of uncertainty [...]
Breaking: Brazil Covid mutation already in the UK January 15, 2021 A Brazilian variant of coronavirus has arrived in Britain, one of the UK’s leading scientists announced this morning, as the government unveiled a new research group to study the various Covid mutations. Speaking during a Science and Media Centre briefing, Professor Wendy Barclay said: “There are two different types of Brazilian variant and one of [...]
More than 200 jobs axed after M&S deal to buy Jaeger fails to save stores January 15, 2021 More than 200 high street jobs have been axed after womenswear brand Jaeger collapsed, resulting in the closure of its 63 stores. Marks & Spencer has acquired Jaegers stock and marketing assets but the retailer’s stores and concessions were not part of the deal. In total 211 store staff and 22 head office employees have [...]
Babcock shares plunge nearly 20 per cent before profitability review January 15, 2021 Babcock shares sank this morning after it said £100m had been shaved from its profit.