Goldman Sachs digital brand Marcus pauses applications for savings account June 9, 2020 Goldman Sachs is reportedly pausing new applications for its digital bank’s online savings account, from Wednesday, after a surge in deposits pushed it close to regulatory limits during the pandemic. Executives at the bank are taking steps to manage the growth of the British arm of Marcus, according to Reuters. Marcus has attracted around £21bn [...]
Major mobile networks suffer UK-wide outages June 9, 2020 Customers are experiencing issues with access to their mobile networks, with outages reported across the UK. Those affected include users of Vodafone, O2, EE, Three and Tesco Mobile. Many customers have reported being unable to use the UK mobile networks for voice call connections, though they can still text and use mobile data. Problems surfaced [...]
Hospitality industry asks government for financial support to overcome rent deadlock June 9, 2020 The hospitality industry has warned there will be significant job losses and business failures unless the government provides financial support to overcome the rent stand-off between landlords and tenants. Trade body UK Hospitality has said that a continued “stalemate” between landlords and tenants on the matter of unpaid rent needs to be resolved or reopening [...]
Senior Tory figures trying to oust mayoral candidate Shaun Bailey June 9, 2020 Senior Conservative party figures are reportedly trying to replace London mayoral candidate Shaun Bailey with former chancellor Sajid Javid for next year’s election. Bailey trailed mayor of London Sadiq Khan by 25 per cent in March polling before the election, originally scheduled for May, was postponed to next year due to the coronavirus outbreak. Khan [...]
Segro to raise £650m through private share placement to pursue ‘opportunities’ June 9, 2020 Property investment firm Segro has announced it will raise £650m through a private share placement to pursue “opportunities” across the UK and Europe. In a statement released after markets closed, Segro said the new equity would allow it to “take advantage of additional investment opportunities across the UK and Continental Europe through further, mostly pre-let, [...]
Coronavirus: Government confirms non-essential retail will open on 15 June June 9, 2020 Business secretary Alok Sharma has confirmed that England’s non-essential retail shops can open next Monday, while also pouring cold water on speculation that pubs and restaurant will open this month. Sharma said today that retail shops that open must comply to the government’s “Covid safe” guidelines or face potential fines. “Shops should reopen once they’re [...]
Theme parks set to open before schools June 9, 2020 Legoland, Thorpe Park, Alton Towers and Chessington World of Adventures are set to open next month, ahead of schools in England. The four theme parks, which are all owned by Merlin Entertainment, plan to open their doors to the public on 4 July after months of closure due to the coronavirus crisis. Today, the government [...]
BoE’s Cunliffe anticipates ‘great deal of pain’ for financial sector June 9, 2020 The initial shock of the pandemic to the financial system may have passed but another abrupt repricing of risk is possible, according to the Bank of England’s (BoE) deputy governor. “The first phase – the initial shock and adjustment to a far more challenging economic outlook in the near term – has passed,” Sir Jon [...]
Steel firm Celsa closes in on £30m loan June 9, 2020 A Cardiff-based steelmaker is nearing a deal with the government for a loan of £30m to bolster its finances amid the ongoing coronavirus crisis, Sky News reported. If an agreement is reached, Spanish-owned Celsa Steel UK will be one of the first firms to agree a bespoke funding deal outside the government’s official schemes. Although [...]
Honda forced to suspend factory activity in wake of cyber attack June 9, 2020 Honda has halted production at a number of its global factories after suffering a suspected cyber attack to its internal servers. A spokesperson for Honda said today that activity had been suspended as the company needed to ensure that its quality control systems were not compromised. Honda was hit by a suspected hack yesterday that [...]