CMA launches coronavirus taskforce to stamp down on over-pricing March 20, 2020 The Competition and Markets Authority (CMA) has launched a taskforce to prevent businesses from taking advantage of shoppers during the UK coronavirus outbreak. The UK competition watchdog warned the outbreak has “prompted many concerns that businesses might exploit the situacion to take advantage of people”. Amid stockpiling of food and toilet roll across the UK, [...]
Bank of England cancels stress tests over coronavirus March 20, 2020 The Bank of England has cancelled this year’s stress test of major banks in Britain, saying it could be hard to implement new global capital rules while lenders are focused on supporting customer lending amid the coronavirus pandemic. The central bank’s decision to scrap the test of the UK’s eight top banks comes after the [...]
Coronavirus: Man arrested on Isle of Man for failing to self-isolate March 20, 2020 A 26-year-old man has been arrested on the Isle of Man for failing to self-isolate as the local govenrment imposes strict rules. The Manx government has demanded that anyone arriving on the island must quarantine themselves for a period of 14 days. The man arrested arrived yesterday via boat and failed to adhere to those [...]
Coronavirus: Follow government advice and pandemic will end sooner, says health secretary March 20, 2020 The health secretary has urged the public to follow government advice as it will allow life to return to normal sooner. Matt Hancock said adhering to social distancing measures would prevent “difficult situations” such as those seen in Italy, where hospitals have become overwhelmed. “The more people follow the public health advice, the quicker we [...]
Investec warns on profits as it navigates ‘challenging’ market March 20, 2020 Investec has warned of a fall in profit as it navigates “challenging market conditions”, exacerbated by the coronavirus outbreak. The specialist bank said operating profit for the year to 31 March 2020 is expected to be 7 to 14 per cent behind the previous year, while adjusted earnings per share would be down between 16 [...]
Key worker list: These UK staff can still send their children to school amid coronavirus crisis March 20, 2020 With schools across the country shutting their gates until further notice to help contain the spread of coronavirus, the government has released a list of so-called key workers deemed essential to the UK’s fight against the pandemic. Schools will be closed to the majority of children from 23 March, but have been asked to continue [...]
Foxtons will take ‘all necessary steps’ to stay in business amid coronavirus outbreak March 20, 2020 Foxtons issued a trading update this morning advising that it will take “all necessary steps” ahead of the “inevitable material disruption to trading in the coming months.” The estate agent reassured investors that the first 11 weeks of the financial year had been in line with expectations but warned that the “significantly weakened economic outlook” [...]
Workplace: a key driver of business growth March 20, 2020 | Sponsored For organisations that dream of emulating Silicon Valley’s success stories, growth is the main goal. However, many senior managers underestimate the importance of bringing an organisation’s strategy into the physical realm of the workplace. Theoretically, it is well known that an organisation’s people – both its employees and clients – technology and operations are key [...]
Frasers Group: Mike Ashley’s firm issues profit warning amid ‘significant disruption’ caused by coronavirus March 20, 2020 Mike Ashley’s Frasers Group has issued a profit warning this morning citing the “significant disruption” to business. Formerly Sports Direct, the retailer will no longer give guidance in relation to the current financial year. Due to the coronavirus outbreak, the firm has seen reduced customer footfall to its brands’ stores, which includes House of Fraser, [...]
Coronavirus: Wetherspoon scraps dividend and warns on profit March 20, 2020 Wetherspoon boss Tim Martin has scrapped the pub chain’s dividend and issued a profit warning after Boris Johnson urged Brits not to visit pubs and restaurants amid the UK coronavirus outbreak. A rapid escalation in UK coronavirus cases has already seen a 4.5 per cent decline in Wetherspoon pub sales in the week to 15 [...]