Coronavirus: Adidas forecasts 40 per cent drop in sales in second quarter April 27, 2020 Sportswear giant Adidas expects sales to plummet 40 per cent in the second quarter due to the impact of coronavirus lockdowns around the world. The German brand reported a 19 per cent decline in sales in the first quarter, but this morning said it forecast lower sales over the second quarter of the year. Coronavirus [...]
Airbus ‘bleeding cash at an unprecedented speed’ due to coronavirus April 27, 2020 Planemaking giant Airbus has written to its 135,000 staff warning them to expect deeper job cuts, with the firm “bleeding cash at an unprecedented speed”. In a letter to employees, chief executive Guillaume Faury said that the aerospace behemoth’s survival was at stake, saying that the recent drop in production of a third was not [...]
Boris Johnson returns to work under pressure to ease UK coronavirus lockdown April 27, 2020 Boris Johnson faces a flurry of meetings about the UK coronavirus lockdown upon his return to Downing Street today after his own severe battle with the infection. The Prime Minister returns to work today after three weeks of fighting off a coronavirus infection that could have killed him. After confirming his positive diagnosis on Twitter [...]
The City View podcast, from City A.M., with Dan Korski April 27, 2020 In this episode, Christian talks to Dan Korski, who served as a senior adviser to Prime Minister David Cameron. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Since leaving government, Dan has focused on backing startups and he’s now the CEO and co-founder of Public – supporting tech firms in [...]
UK coronavirus business loan scheme approval rate half of Germany’s April 27, 2020 The UK’s coronavirus business loan scheme has half the approval rate of its German equivalent, data has shown, as chancellor Rishi Sunak mulls the creation of a new programme targeted at the country’s smallest businesses. The latest figures from banking body UK Finance showed on Thursday that 16,600 firms had received loans worth a total [...]
UK economy will take three years to recover from coronavirus, say analysts April 27, 2020 The UK economy could take three years to return to its 2019 size after the coronavirus pandemic has passed, a new report has warned, as consumer spending and business investment plunge. The report from economics forecaster EY Item Club said UK GDP would likely shrink 6.8 per cent in 2020 and unemployment would surge to [...]
Businesses call for clarity on lockdown as fears grow for firms and jobs April 27, 2020 Business leaders’ group the Institute of Directors (IoD) has called on the government to provide more information about reopening the economy as bosses grow fearful about their firms’ prospects after the coronavirus outbreak. It comes as a report shows that one in three jobs are at risk in some parts of the country, including the [...]
Housebuilding set to drop 35 per cent in 2020, says report April 27, 2020 Coronavirus lockdown measures will mean 35 per cent fewer houses will be built in the UK in 2020 than originally planned, according to a new report, a fall likely to add to the stresses in the British housing market over the coming years. Property consultant Knight Frank predicted in a new report that around 104,000 [...]
Retailers call on government to withdraw ‘disastrous’ business rates bill April 27, 2020 A coalition of retail organisations today called on the government to ditch a business rates bill they say would be “disastrous”for the high street. The Non-Domestic Rating (Lists) Bill brings forwards the next revelation of business rates for 2.08m non-domestic properties in England and Wales to 1 April 2021. If the bill receives asset, it [...]
Exclusive: Liberal Democrats push government to set clear coronavirus loan scheme guidelines April 26, 2020 The Liberal Democrats have led a group of 25 cross-party MPs in demanding the government sets uniform lending requirements for its coronavirus business loan scheme in order to increase the speed at which banks approve loans. Liberal Democrat MP Wera Hobhouse wrote to business secretary Alok Sharma to urge him to “specify a minimum level [...]