Coronavirus: Moss Bros shares dive as bidder looks for exit April 22, 2020 Shares in Moss Bros plunged more than 20 per cent today after the menswear firm said Brigadier Acquisition Company was seeking to pull out of a £22m deal to take it private due to coronavirus. The suit retailer said this morning that it had been informed by Brigadier, which owns Crew Clothing, that it is [...]
Exclusive: Growing divide in Boris Johnson’s Brexit unit over trade deal extension April 22, 2020 There is a growing divide in opinion within the government’s Brexit trade deal negotiating unit over whether to seek an extension to the 31 December deadline during the coronavirus crisis. Civil servants are increasingly frustrated that the government refuses to countenance the idea of an extension, while political appointees are keen to press home the [...]
A letter from France: Coronabonds are inevitable April 22, 2020 The coronavirus outbreak has led, perhaps understandably, to countries becoming more inward looking in an effort to try to contain the impact on the virus on their economies and societies. But once the fog has lifted and the reconstruction efforts begins, solidarity, rather than nationalism will be the name of the game. While the idea may shock our British cousins, and give them another reason [...]
Monzo applies for US banking licence in bid to tap giant market April 22, 2020 UK challenger bank Monzo has applied for a US banking licence so it can offer a full suite of services in the world’s biggest financial market. The fintech firm, known for its pink “hot coral” cards and sleek app, applied to the US authorities for a licence on Monday in the most important step in [...]
Exclusive: UK tech startup confidence slumps amid Covid-19 crisis April 22, 2020 Confidence levels among tech startups have slumped since the start of the year as the coronavirus crisis takes its toll on the UK’s thriving tech sector. Just 32 per cent of businesses are confident or very confident that their turnover will increase in the year ahead, City A.M. can reveal. This marks a quarterly drop [...]
Coronavirus: Banks team up with mobile industry to tackle text scams April 22, 2020 The UK’s banking and mobile industries have partnered with spy chiefs to crack down on text message scams linked to the Covid-19 crisis. The new campaign is aimed at tackling so-called spoofing techniques, where cyber criminals mimic legitimate businesses or organisations to trick unsuspecting victims into handing over sensitive information. Many scammers have attempted to [...]
UK coronavirus death toll passes 18,000 April 22, 2020 The UK coronavirus death toll has risen above 18,000 after a further 759 people died in hospital after testing positive for Covid-19. The number of deaths had reached 18,100 at 5pm yesterday, according to the daily government figures. The death toll increase is less than the 823 announced yesterday, and comes after health secretary Matt [...]
Coronavirus: Thwarted holidaymakers seeking £7bn in refunds April 22, 2020 Consumer rights group Which? has said that it has received thousands of complaints from customers trying to secure refunds from the UK’s biggest travel companies and airlines. New research from the group shows that many of the UK’s leading travel firms are breaching their legal obligations to pay refunds within the required timescale, instead offering [...]
Private equity activity reaches new peak but firms brace for difficult year April 22, 2020 European private equity activity hit a new peak in the first quarter, but firms are bracing for a significant slowdown as the impact of coronavirus hits. The first quarter saw 1,025 deals close for a total €132.9bn, a new quarterly peak, according to PitchBook data. It is in part because transactions that closed in the [...]
Consumers ‘uncomfortable’ returning to pubs and restaurants after coronavirus lockdown April 22, 2020 The hospitality industry could continue to struggle when venues are allowed to reopen after the UK coronavirus lockdown, as the latest research showed customers are nervous about returning to pubs, bars and restaurants. All hospitality and leisures businesses were ordered to close when the government announced the UK coronavirus lockdown on 23 March, and pubs, [...]