UK business output plummets to nearly year low February 8, 2021 The impact of lockdown restrictions in January caused UK business output to fall at a rate not seen since April 2020. Business output in January 2021 fell by 5.38 points to a near year low, according to consultancy firm BDO, with the service sector driving the decline. Despite business output falling, economic activity was significantly [...]
UK firms will have borrowed more than £60bn by the end of 2021 February 8, 2021 UK firms will have borrowed more than £60bn by the end of the year, having borrowed £35.3bn in 2020, and been forecast to borrow a further £26bn this year, according to the EY Item Club. Following the UK’s third national lockdown, EY predicted that many businesses are unlikely to start making inroads into repaying their [...]
More than 12 million have had first dose of Covid vaccine February 7, 2021 More than 12 million people have had the first dose of a vaccine against Covid-19, the Department of Health and Social Care announced today. As of today, some 12,014,288 people have had a first dose of a vaccine against coronavirus. More than half a million individuals have had a second dose of a coronavirus vaccine, [...]
Oxford/AstraZeneca jab offers less protection against South African variant February 7, 2021 AstraZeneca has said its vaccine, developed with the University of Oxford, appeared to offer only limited protection against mild disease caused by the South African variant of Covid-19, based on early data from a trial. The study from South Africa’s University of the Witwatersrand and Oxford University showed the vaccine had significantly reduced efficacy against the [...]
Pandemic profiteers face tax hike on Covid winnings February 7, 2021 Companies that have cashed in a result of the coronavirus pandemic, including the likes of Amazon, will face a double tax raid under plans being draw up by the government. The government has summoned companies to discuss how an online sales tax would work, while plans are also being drawn up for a one-off “excessive profits tax,” the [...]
Rapid Covid-19 testing rolled out to businesses with more than 50 employees February 7, 2021 Workplace Covid testing is being offered to companies in England with more than 50 employees, for staff who cannot work from home during lockdown. Businesses with more than 50 employees are now able to access lateral flow tests, which can produce results in less than 30 minutes, according to reports. Officials said the move was [...]
German finance minister lashes out at EU vaccine drought February 6, 2021 Germany’s finance minister has renewed tensions within the bloc following a high-profile tussle last week over EU vaccine shortages. Olaf Scholz told the BBC this afternoon he was “angry about some of the decisions that were taken last year”, among suggestions that the EU failed to order sufficient vaccine supplies for its member states. So [...]
Sunak extends Covid loan relief after BoE says £22bn may never be repaid February 5, 2021 Rishi Sunak to extend Covid loan relief with longer repayment time for small businesses
Majority of adults in UK to be offered Covid vaccine by May February 5, 2021 Most adults in the UK will receive a Covid vaccine by the end of May, according to a senior government adviser, in a major boost for hopes of a return to normality by the summer. Samuel Kasumu, a senior adviser to the Prime Minister on ethnic minorities, revealed the target in a resignation letter leaked [...]
Peloton deliveries disrupted by Brexit and port delays February 5, 2021 Peloton’s stock of treadmills and bikes has been badly hit by Brexit and global shipping congestion, leading to severe delays, according to company CEO John Foley. On Peloton’s website, some items can take eight to ten weeks to be delivered, higher than the four to six week delivery windows earlier this year. The company has [...]