Andrew Bailey faces another tough year at Bank of England in 2021 December 22, 2020 Mark Carney must be thanking the gods he stepped down as Bank of England governor in early March. Since then, his successor Andrew Bailey has had to steer the historic institution through the worst economic downturn in 300 years, complete with a bout of market panic in the spring. Under Bailey’s leadership the Bank slashed [...]
British Chambers slam “constantly shifting goalposts” in desperate plea to PM December 22, 2020 The British Chambers of Commerce have today warned the Prime Minister that businesses are “on their knees” due to new lockdown restrictions. The body’s President, Baroness Ruby McGregor-Smith, says that the “constantly shifting goalposts” had left many businesses considering “shutting up shop for good.” In her open letter, she calls for the PM to offer [...]
New figures: Retailers in “significant distress” rises by 24 per cent December 22, 2020 Tens of thousands of retailers are now in significant financial distress as Tier restrictions take their toll. Some 39,232 retailers are believed to be in serious trouble, an increase of 24 per cent on the same period in 2019 and an 11 per cent jump on Q3 this year. Arcadia and Debenhams are amongst those [...]
New: PM criticises border closure and is “working” to a solution December 21, 2020 The Prime Minister has criticised the French government’s decision to block freight from the UK, saying the risk of truck drivers transmitting the new mutant strain of Covid-19 is “very low.” He said he was “working to a solution” and had spoken to French President Emmanuel Macron. Read more: All EU countries ban UK travellers [...]
New: All EU countries ban UK travellers for 48 hours amid mutant strain scare December 21, 2020 The EU has followed many of its countries in enforcing a BAN on all British travellers to the Continent and Ireland until midnight tomorrow. A unilateral French decision has caused chaos at the port of Dover today but other countries soon joined. Spain made the call to close its borders to the UK, with the [...]
Next year brings hope, but we’re not out of the woods yet December 21, 2020 As we approach the end of a year most of us would prefer to forget, Londoners have been dealt a fresh blow with news that the capital has been placed under the highest level of coronavirus restrictions. The new Tier 4 rules mean people should only go out for exercise or to travel for work, [...]
Banned: The full list of countries that have banned UK travellers December 21, 2020 The new mutant strain of Covid-19 which is said to be spreading widely in the UK has seen a number of countries crack down on British arrivals. The French decision to block the border has caused chaos at UK ports, but many other countries have made similar decisions. The full list: France India Italy Belgium [...]
D&D owner: Tax supermarkets to bail out bars and restaurants December 21, 2020 In his second City A.M. column, D&D London CEO and cofounder Des Gunewardena reflects on the “horror show” of the last week, asks the government to consider a Covid-tax to help struggling restaurants, and offers his empty venues up as Covid vaccination stations. We have had some bad weeks during this pandemic, but last week [...]
EU regulator gives green light to Pfizer/Biontech coronavirus vaccine December 21, 2020 Countries in the European Union could be rolling out coronavirus jabs within a week after the EU regulator approved the use of the Pfizer/Biontech vaccine. The European Medicines Agency (EMA) today recommended the EU should authorise the vaccine after finding it safe and effective. A decision from the European Commission is expected later today. The [...]
Global markets slump amid fears of mutant virus and UK border chaos December 21, 2020 The FTSE 100 and US and European stocks tumbled on Monday while the pound slumped after countries banned travel from the UK over fears of a new coronavirus strain. Adding to the gloom on markets was the impasse in post-Brexit trade talks between the UK and the EU. Rising coronavirus cases in Britain, on the [...]