UK lockdown: Shoppers spend more on booze, beauty and crafts May 7, 2020 Brits have been splashing out on tequila, crafts and their beauty and exercise regimes during the UK lockdown, according to the latest data on consumer spending. The data from John Lewis showed that sales of skincare products jumped 183 per cent and facial masks are hair treatments soared 187 per cent during the UK coronavirus [...]
Goldman Sachs in talks to buy Invesco holdings May 6, 2020 Goldman Sachs is reportedly in talks to buy a large portfolio of company stakes being sold by Invesco. A unit of Goldman Sachs Asset Management is closing in on a deal to acquire the positions, according to Sky News reports, which could be closed within weeks. Invesco had applied a 60 per cent reduction to [...]
Government misses testing target for fourth consecutive day May 6, 2020 The government has missed its target for coronavirus testing for the fourth day in the row, after just 69,463 tests were carried out yesterday. In the Downing Street daily briefing, communities secretary Robert Jenrick confirmed 69,463 tests had been carried out in the past day. More than 30,000 people have died from coronavirus in the [...]
Aviation chiefs plead for more help from government amid coronavirus chaos May 6, 2020 Representatives of the UK’s airports and airlines have said that the government must do more to support the aviation sector, warning that it “does not understand the strategic role the industry plays in the economy”. Speaking to the transport select committee, Tim Aldersdale, the chief executive of Airlines UK, said that there were “lots of [...]
M&A set for torrid second quarter as deal volumes are expected to contract further May 6, 2020 UK M&A deal volumes are expected to contract further in the second quarter of 2020, after falling to a 35-year low last month. A Mark to Market survey of M&A professionals found that 95 per cent of respondents anticipate deal volumes in the UK to fall in the second quarter. Of those, 56 per cent [...]
Sadiq Khan unveils plans to transform roads for walkers and cyclists post lockdown May 6, 2020 London mayor Sadiq Khan has unveiled a new plan to transform the capital’s streets to accommodate a huge increase in walking and cycling once lockdown measures lift. Under the “Street Space” initiative, pavements will be widened and extra cycle lanes put in to allow people to travel to work while maintaining social distancing. Writing in [...]
Third of UK restaurant and bar bosses expect to permanently close sites due to coronavirus May 6, 2020 Hundreds of UK restaurants, pubs and bars are expected to permanently close due to the coronavirus crisis, according to the latest survey of industry leaders. A third of hospitality executives said they will close some sites due to the pandemic, with just 36 per cent saying they will eventually reopen all of their sites for [...]
Uber to cut 3,700 employees as ride-hailing demand slumps due to coronavirus May 6, 2020 Uber will cut 3,700 employees and its chief executive will forgo his salary for the rest of the year as demand for ride-hailing services collapses due to the coronavirus outbreak. The company said the job losses will include roles in its customer support and recruitment teams, with $20m in costs expected to be incurred as [...]
Germany to reopen shops and restart football in lockdown easing plan May 6, 2020 Germany’s federal government and its 16 states have agreed a plan to loosen lockdown restrictions, with shops to reopen and Bundesliga football to restart. Social distancing rules will continue for another month in Germany and schools are likely to only gradually reopen. Germany’s states have agreed to take responsibility for the timing of the reopening [...]
Alan Sugar bares his teeth in dental row with advertising watchdog May 6, 2020 Lord Alan Sugar today launched a biting attack on the advertising watchdog as he clashed with regulators over a tweet promoting a teeth whitening kit. The Apprentice star had a brush with the law after he failed to clarify the commercial intent behind a tweet advertising a Stylsmile teeth whitening product. The dental brand was [...]