Coronavirus loans: Labour shadow minister calls for extra assistance September 22, 2020 The government should look to alter its coronavirus emergency loan schemes to assist companies that may struggle to pay back their debts, according to a Labour shadow cabinet member. Shadow chief secretary to the Treasury Bridget Phillipson told City A.M. in a wide-ranging interview that some firms are “are in a much more fragile position [...]
IATA calls for worldwide airport testing to replace quarantine September 22, 2020 Global airline body the International Air Transport Association (IATA) has said that all international passengers should be given coronavirus tests before departing in order to scrap current quarantine measures. Speaking at an online briefing, IATA director Alexandre de Juniac said that there was no alternative solution that was “less challenging or more effective”. He said [...]
Ralph Lauren to cut 15 per cent of global workforce September 22, 2020 Fashion magnate Ralph Lauren has said it will cut around 15 per cent of its global workforce, as it seeks to recover costs and streamlines its offering to focus more on digital channels. The cuts, which will take place by the end of this fiscal year, could affect up to 3,700 jobs. The layoffs could [...]
Night-time businesses slam 10pm curfew as ‘devastating’ September 22, 2020 Businesses in the UK’s night-time economy have slammed the Prime Minister’s announcement of a 10pm curfew on venues for up to six months as “devastating”, and warned that it will lead to wide-scale business collapse and unemployment. Boris Johnson today announced a 10pm curfew on all hospitality and leisure venues in England in a bid [...]
Sadiq Khan calls for emergency business support as London restrictions loom September 22, 2020 Mayor of London Sadiq Khan has called on the Prime Minister to introduce emergency financial support for businesses affected by the new 10pm curfew and warned that extra restrictions lay on the horizon for the capital. Khan said he has had “constructive” conversations with Boris Johnson today about the new 10pm curfew for hospitality and [...]
Tiktok proposes social media coalition as MPs grill app over online harms September 22, 2020 Tiktok has proposed social media firms form a global coalition to better combat harmful and offensive content on their platforms, as MPs grilled the app’s European policy boss on its track record. Tiktok said in a statement ahead of the parliamentary hearing that it had sent letters to nine firms — Facebook, Instagram, Google, Youtube, [...]
Davos: World Economic Forum summit in doubt for 2021 September 22, 2020 Doubts have been cast over whether the World Economic Forum summit will take place in 2021 amid reports organisers are looking beyond its traditional Davos venue for next year’s event. The annual conference, which brings together the world’s top business leaders and political figures, usually takes place in the mountain-top resort in January. Last month [...]
Business groups call for further support as UK tightens restrictions September 22, 2020 The government must set out a new support package as new restrictions threaten to derail the economic recovery, business groups have warned. Addressing the House of Commons today, Boris Johnson dealt a devastating blow to the hospitality sector as he unveiled plans for a 10pm curfew. And as he warned of a second wave of [...]
Coronavirus: Boris Johnson imposes stringent new restrictions for up to six months September 22, 2020 Boris Johnson has imposed a swathe of stringent new restrictions that could last for up to six months if no new coronavirus treatments or vaccines are found. New restrictions in England from Thursday will include a 10pm curfew, enforced table service at hospitality venues and requirements that all retail and hospitality workers wear face masks [...]
Kingfisher profit jumps as online sales rise during lockdown September 22, 2020 B&Q-owner Kingfisher increased its pre-tax profit by 62.4 per cent in the first half of the year as a strong second quarter and online sales growth boosted the retail group. The FTSE 100 firm also said it had seen “an encouraging start to the second half of the year”. It said like-for-like sales were up [...]