UK airlines set for jobs crisis on par with collapse of mining in 1980s June 10, 2020 The UK’s aviation sector is on the brink of a jobs crisis as severe as that which devastated the mining industry in the 1980s, a new report has found. According to the New Economics Foundation (NEF), up to 70,000 jobs are under threat as a result of the coronavirus crisis, which has grounded airlines around [...]
Vodafone lashes out over UK’s Huawei doubts June 10, 2020 Vodafone has warned that the UK’s desire to be a global leader in 5G technology will be crippled if it decides to block Huawei from the country’s telecoms infrastructure. “The UK’s leadership in 5G will be lost if mobile operators are forced to spend time and money replacing existing equipment,” said Scott Petty, Vodafone UK’s [...]
UK lockdown: Zoos and drive-in cinemas could reopen from 15 June June 10, 2020 Prime Minister Boris Johnson is today expected to outline which sectors of the UK economy will reopen after lockdown on 15 June, such as zoos and drive-in cinemas. The UK is slowly reopening its economy after it entered lockdown on 23 March, leading to the widespread closure of restaurants, pubs, gyms, cafes and most shops [...]
Let the economy reboot itself June 10, 2020 How can the government best support the UK’s economic recovery after the crushing impact of the pandemic? Today, the Institute of Economic Affairs and Civitas are publishing a joint report on the economics of the Covid-19 crisis, written by Professor Len Shackleton and myself. Many are arguing that the crisis has demonstrated the need for [...]
Retailers get ready to reopen – but shoppers may be too scared to visit June 10, 2020 Shops across the country may be preparing to finally reopen their doors next week, but fears are growing that the British public will be too anxious to actually visit them after spending months under coronavirus lockdown. Those concerns have today been laid bare in a survey of more than 1,000 consumers, which suggested many people [...]
Coronavirus: UK economy set for ‘most severe downturn in modern times’ June 10, 2020 The coronavirus pandemic has dragged the UK into the “most severe economic downturn in modern times” with the economy set to contract over seven per cent this year, new forecasts suggest. The UK economy is expected to shrink 7.2 per cent in 2020 and is unlikely to fully recover from the impact of Covid-19 until [...]
Brits turn their back on cash during lockdown as contactless payments jump to £957m June 10, 2020 The average Brit has gone 44 days since using cash as new research reveals lockdown has accelerated the pivot to contactless payments. Customer data from Nationwide shows that tap-and-pay transactions have increased 44 per cent since the week of 23 March, when Britain was placed on lockdown. Nationwide members made 78.5m contactless between 23 March [...]
One in seven SME owners using personal savings to keep businesses afloat during pandemic June 10, 2020 The coronavirus pandemic is leading small business owners to take drastic steps to keep their companies afloat, according to a new survey, with one in seven small business owners digging into their own pockets to ensure their business survives. Small and medium sized businesses (SMEs) in the UK have come under intense pressure during the [...]
Sky announces extra £1.5m funding for small business ads June 10, 2020 Sky has today pledged an additional £1.5m to fund free advertising for small businesses hit by coronavirus. The scheme will provide £10,000 of funding to 150 small to medium-sized businesses (SMEs) in the UK that have been running for more than a year with fewer than 50 employees. Last month Sky Media, the advertising sales [...]
Britain’s tech sector takes in $5.3bn in first half of 2020 June 10, 2020 The UK’s tech businesses have raised more than $5bn in investment so far this year, despite the impact of coronavirus weighing on funds. Startups across the UK took in $5.3bn between January and May 2020, more than the rest of Europe combined at $4.1bn. Data compiled by Tech Nation and Dealroom showed London commanded the [...]