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 [...]
TfL set to reopen its major construction projects June 9, 2020 Construction work is set to restart on major Transport for London (TfL) projects after months of inactivity. TfL announced today that it would organise a “phased restart” of its 300 sites that it shut down during the coronavirus lockdown. Key projects that will restart include the Bank station upgrade and the Northern Line extension. The [...]
Three more Debenhams stores to stay closed when lockdown eases next week, bringing total to 20 June 9, 2020 Debenhams will not reopen three more stores when lockdown restrictions on retailers are eased next week, in a move that will cost around 300 jobs. The news brings the tally of Debenhams outlets that will stay closed next week to 20. It comes after the retailer failed to agree terms with the landlord, embattled shopping [...]
A further 140,000 people affected in Nintendo Switch hack June 9, 2020 A breach of Nintendo Switch users in April may have affected more people than the gaming company first announced, Nintendo said today. The Animal Crossing creator said an additional 140,000 Nintendo Network IDs may have been affected by unauthorised logins, on top of the 160,000 IDs revealed earlier this year. This brings the total number [...]
Airlines face £84bn loss in ‘worst year in aviation history’ June 9, 2020 Global aviation body the International Air Transport Association (IATA) today said that the coronavirus crisis will see the world’s airlines make record losses of over £$100bn over 2020 and 2021. At a press conference this afternoon, director general Alexandre de Juniac said: “The losses this year will be the biggest in aviation history—over $84bn in [...]
Brexit: Minister says there is no point in an ’11th hour’ UK-EU trade deal June 9, 2020 Cabinet Office minister Penny Mordaunt has told MPs that there is no point doing an “11th hour” Brexit trade deal and that the EU needs to speed up negotiations. Mordaunt – who was stepping in for defacto Brexit minister Michael Gove in the House of Commons today – said that businesses needed enough time to [...]
Cheer up, crisis and trauma can spur positive growth June 9, 2020 Do you have a corona-buddy — someone you can talk to about your experiences during the pandemic and its aftermath? Psychologists suggest that a post-pandemic buddy system might help us get back to some sense of normality at work and in life. For many of us, the pandemic has been a traumatic experience. Even for [...]
Ferry service Thames Clippers to restart on 15 June June 9, 2020 River bus service Thames Clippers will return to service from 15 June as lockdown measures continue to ease and more commuters return to work. The company, which runs ferry journeys to 23 piers across London, will operate a bespoke timetable when it restarts services next week. Thames Clippers has made a number of changes to [...]