Smiths Group shares tumble as profit sinks by a quarter during pandemic September 24, 2020 Shares in Smiths Group sank as much as eight per cent this morning, as the industrials conglomerate reported a 26 per cent drop in pre-tax profit for the year following a “disrupted” few months during the pandemic. The results Pre-tax profit for the 12 months to the end of July slumped 26 per cent to [...]
Impersonation frauds soar 85 per cent during pandemic as scammers exploit government loan websites September 24, 2020 Impersonation frauds almost doubled during the pandemic, as scammers scooped up around £208m from fake government loan forms, phishing emails and bogus websites. More than 15,000 impersonation scams were reported in the first half of 2020, marking an 84 per cent increase compared to the same period last year, according to a report released today [...]
Volunteers ‘to be deliberately infected with Covid-19’ in UK vaccine trials September 24, 2020 Britain is reportedly planning to host clinical trials where volunteers are deliberately infected with Covid-19 to test the effectiveness of potential vaccines. So-called challenge trials are expected to begin at a quarantine facility in London in January, the Financial Times reported, citing people involved with the project. The government said it was working with partners [...]
BoE: Considering the climate would have held back stimulus September 24, 2020 The Bank of England has said it did not attach any climate-related conditions to its major loan scheme as this would have “frustrated” the effort to support companies quickly. However, Bank official Sarah Breeden said that the BoE is “considering” attaching green strings to its future corporate bond purchases. Threadneedle Street has been criticised for [...]
Cycling debutants in London more-than-double as the capital’s commuters switch to two wheels September 24, 2020 If you thought the city’s cycling lanes were busier with newbies over the past few months, you’re not alone. New data out today by Strava Metro showed the number of people newly taking up cycling in the capital peaked in May, with 119 per cent year-on-year growth. By June, the total number of cycling trips [...]
Facebook to launch oversight board just before US election September 24, 2020 Facebook is planning to launch its long-delayed oversight board in mid- to late October, just ahead of the US presidential election, following mounting criticism over its handling of hate speech and other divisive content. The social media giant’s independent oversight board will initially have the power to review decisions to remove content from Facebook and [...]
Rishi Sunak set to pump billions into economy to stave off unemployment September 24, 2020 Rishi Sunak will today unveil a multi-billion pound support package for ailing companies as he tries to stave off mass unemployment over winter. Sunak’s “winter economy plan” is expected to involve further VAT cuts, more emergency business loans and new wage subsidies for part-time workers to replace the furlough scheme. He will also announce that [...]
Veteran journalist and editor Sir Harold Evans dies aged 92 September 24, 2020 Sir Harold Evans, one of the most influential journalists of the 20th century, has died at the age of 92. The former Sunday Times editor, who was known for his crusading investigations, died of heart failure in New York, his wife Tina Brown said. Over a career spanning seven decades Evans worked as a magazine [...]
Wework sells control of China arm for $200m in global pullback September 24, 2020 Wework is selling control of its Chinese division to one of its investors, in a deal that further reduces the office space provider’s global presence after the coronavirus pandemic worsened its financial troubles. Private equity firm Trustbridge Partners will pay the company $200m (£157m) for majority ownership of the unit, as Wework retreats from a [...]
AA mulls all-cash offer from former rivals Towerbrook and Warburg Pincus September 24, 2020 The AA is today in talks about a possible all-cash offer from a consortium made up of private equity firms Towerbrook Capital Partners and Warburg Pincus. Shares are up three per cent on the news. The roadside recovery service also confirmed talks with Centerbridge Partners Europe and Platinum Equity Advisors had broken down, as was mooted [...]