Coronavirus: Contact-tracing app to launch in mid-May May 12, 2020 The coronavirus contact-tracing app will be rolled out across England in mid-May, health secretary Matt Hancock confirmed today. The NHS app, which authorities hope will help to track the spread of the virus, was launched on a trial basis on the Isle of Wight last week. Hancock today said the government was “pleased” with progress [...]
Elon Musk reopens Tesla factory in defiance of lockdown rules May 12, 2020 Tesla’s chief executive Elon Musk has said that the electric car firm will restart production at its factory in California despite an order forcing it to remain closed. In a tweet last night, Musk said that if anyone had to be arrested over the decision, it should be him: “Tesla is restarting production today against [...]
Moss Bros reopens online store after government return to work guidance May 12, 2020 Menswear retailer Moss Bros has reopened its online store following updated government advice for more people to return to work. The company said it will relaunch its e-commerce operations from tomorrow after implementing safety measures and following updated government guidance on returning to work. Moss Bros, which closed its physical and online stores in March, [...]
Coronavirus lockdown: Commuters should prepare to queue, government says May 12, 2020 The government has said that commuters using public transport should prepare to queue as more people begin to return to workplaces on Wednesday. In new guidance published today by the Department for Transport (DfT), people are urged to avoid public transport where possible and to prepare for journeys to take longer than normal. “If you [...]
Deliveroo launches in-app fundraising tool for free NHS meals May 12, 2020 Deliveroo today announced the launch of a new in-app fundraising tool allowing users to donate meals to NHS workers. From this week customers will be able to either round up their bill to the nearest pound or add an additional tip at checkout on the Deliveroo app. These funds will go towards the cost of [...]
Bank of England must weigh up negative interest rates, says deputy governor May 12, 2020 Bank of England deputy governor Ben Broadbent has raised the possibility of negative interest rates in the UK, but said the BoE would have to think hard about the challenges they pose. Asked about negative rates on CNBC, Broadbent said it was “a question that’s been thought about on and off since the financial crisis [...]
Former BoE governor says extend furlough scheme indefinitely May 12, 2020 Rishi Sunak should announce an indefinite extension of the coronavirus furlough scheme today with no changes to the level of pay, according to the former Bank of England (BoE) governor. Lord Mervyn King, who was the BoE helmsman during the 2008 financial crisis, said today that the scheme should be in place until “the economy [...]
Britain must stick up for trade May 12, 2020 The global economy has shut down and as a consequence, so has global trade. Around 80% of the world’s trade is carried by sea and since the beginning of the year there were over 430 so-called “blank sailings”, where shipping lines cancel their journey. The number is expected to increase into May and for comparison, [...]
Landsec shares dive after £1.2bn wiped off property value during coronavirus crisis May 12, 2020 Landsec’s share price plunged this morning after the property giant revealed it had taken a £1.2bn hit to its portfolio value. Landsec, one of the UK’s largest property companies, also warned that it does not expect the economy to recover until at least 2022. The value of the company’s portfolio slumped 8.8 per cent to [...]
Extend job retention scheme or risk ‘second wave’ of unemployment, says think tank May 12, 2020 Chancellor Rishi Sunak should extend the job retention scheme until September and longer for some sectors to help stave off a “second surge” in unemployment, a leading think tank has said. The Resolution Foundation said some sectors would need support for longer than others and suggested the scheme should run until the end of the [...]