GSK partners with Sanofi to develop coronavirus vaccine April 14, 2020 Pharmaceuticals giant Glaxosmithkline (GSK) has joined forces with French drugmaker Sanofi to develop a vaccine for the coronavirus disease. The two firms said that they were planning to begin clinical trials for the new treatment in the second half of this year. If successful, it is hoped that the vaccine would become available in the [...]
‘Unfair’ Covid-19 business grant scheme means more Scottish firms could go under April 14, 2020 Concerns are growing among Scottish businesses that the SNP government’s failure to match Westminster’s coronavirus economic support will force a string of retail and hospitality chains to go bust. English hospitality, tourism and leisure chains have been offered government grants of up to £25,000 per property, as long as the building’s rateable value is less [...]
Coronavirus: John Lewis launches virtual services April 14, 2020 John Lewis has launched a platform to provide its in-store services, such as decorating and style advice, online while its stores are closed during the UK coronavirus lockdown. The department store said it will offer virtual nursery, home design and style advice through video calls with customers. John Lewis is currently unable to provide the [...]
She speaks for the President—but is anyone listening? April 14, 2020 Last week a snippet of news dropped into my inbox, announcing that Donald Trump had taken time out of his busy schedule of bullish-if-confused press conferences to announce a new White House press secretary (the fourth since he was sworn in at the beginning of 2017, if anyone’s counting). Number three, Stephanie Grisham, thanked the [...]
Coronavirus: UK economy could shrink by 35 per cent in second quarter April 14, 2020 The UK economy could shrink by 35 per cent in the second quarter of this year and unemployment could hit 10 per cent as coronavirus lockdown measures take a devastating toll, Britain’s budget watchdog has warned. The Office for Budget Responsibility (OBR) said such a slowdown could send the budget deficit to its highest level [...]
China ‘using Covid cover’ to seize control of Imagination Technologies April 14, 2020 A state-owned Chinese investor is exploiting the coronavirus crisis to seize control of Imagination Technologies, the British chipmaker’s former boss has warned. Sir Hossein Yossaie, who served as chief executive until 2016, has written to ministers urging them to block China Reform Holdings from taking control of the company’s board, Sky News reported. Yossaie also [...]
Renault quits China partnership to focus on Nissan alliance April 14, 2020 French car giant Renault has scrapped its joint venture with Chinese firm Dongfeng Motor Group due to weak sales at the loss-making partnership. A general slowdown of sales in the world’s biggest auto market will be compounded by this year’s coronavirus pandemic, which has led to a widespread shuttering of factories and showrooms across the [...]
Barclays halts job cuts while coronavirus crisis ongoing April 14, 2020 Barclays has halted new job cuts while the coronavirus is ongoing the bank said in a memo. Barclays said it is also supporting staff in the process of being made redundant, the memo seen by Reuters said. The lender said it would support staff by paying up to 80 per cent of an employee’s wages [...]
Coronavirus: Oasis and Warehouse on the brink of collapse April 14, 2020 High street retailers Oasis and Warehouse are reportedly on the brink of collapsing into administration, putting more than 2,000 jobs at risk. The fashion chains are set to appoint Deloitte as administrator as soon as this afternoon or tomorrow, Sky News reported, making them the latest casualty of the coronavirus crisis. The Oasis and Warehouse [...]
Coronavirus set to cost the world’s airlines up to $314bn April 14, 2020 The coronavirus pandemic will cost global airlines up to $314bn (£249.6bn) in revenues, industry body the International Air Transport Association (IATA) has said. The figure reflects a 55 per cent fall in passenger revenues year-on-year, with air traffic expected to decline by 48 per cent. In March IATA had estimated a hit of $252bn, which [...]