UK businesses return to growth in December after lockdowns December 16, 2020 The UK’s businesses clawed their way back to growth in December after the England-wide lockdown hit the economy in November, a new survey has shown, although conditions were better in manufacturing than the all-important services sector. An early reading of the IHS Markit purchasing managers’ index (PMI) – a closely watched economic gauge – rose [...]
London’s most famous plumber Charlie Mullins: ‘I’d take another pandemic over Brexit every time’ December 16, 2020 Reflecting on the year that was, the coronavirus pandemic caused havoc in 2020 and helped to put this year down in the history books for the wrong reasons, London’s most famous plumber, Pimlico Plumbers’ founder and CEO Charlie Mullins, tells City A.M. this morning. “Having said that, I would relive this current crisis rather than endure [...]
Michael Gove to hold Covid Christmas talks with devolved nations over ‘rethink’ December 16, 2020 Talks over the plans to relax coronavirus restrictions over the Christmas period will continue today amid concerns that doing so could lead to a surge in cases of the disease. Cabinet Office minister Michael Gove will continue to lead negotiations with representatives from the UK’s devolved administrations, having failed to reach agreement yesterday. Under the [...]
Travis Perkins returns furlough cash following DIY boom December 16, 2020 Travis Perkins has announced it will return business rates relief and furlough cash for its Wickes and Toolstation brands, as the company continued to see a strong demand for DIY during the pandemic. The Northampton-headquartered firm said this morning that the repayment of government assistance totalled £50m. “Given the status of Wickes as an essential [...]
Bank of England set to hold policy amid Brexit and lockdown uncertainty December 16, 2020 The Bank of England is set to leave interest rates on hold when it announces monetary policy tomorrow, according to analysts, after expanding its bond-buying programme sharply last month. Economists said there was little reason for the Bank to act. The latest lockdown measures have not been as damaging as feared, while the BoE asset-purchase [...]
Britain begins trials of Valneva vaccine December 15, 2020 Valneva will begin phase one and two UK trials of its coronavirus vaccine today, boosting Britain’s chances of wide-scale inoculation next year. The Scottish-based vaccine company will initially test its jab on 150 British volunteers in England. Early stage trials will attempt to prove whether the vaccine produces a safe and effective immune response against [...]
‘We will lose £400k’: The cost of Tier 3 for the hospitality sector December 15, 2020 As the hospitality sector begins to count the cost of the latest Tier 3 lockdown, we spoke to one industry figure who says his company will lose £400,000. Stuart Procter, COO of Mayfair hotel and restaurant The Stafford, said the latest blow has left his company reeling in a year he’s already had to make [...]
Cold turkey: Ministers face pressure to scrap ‘rash’ Christmas relaxation of rules December 15, 2020 The government is facing mounting pressure to rethink its decision to relax coronavirus restrictions for five days over Christmas over fears it will lead to a third national lockdown. In their first joint editorial for more than 100 years, the British Medical Journal and Health Service Journal today said the government should U-turn on its [...]
‘Test to release’ travel scheme off to ‘chaotic’ start December 15, 2020 The government’s new “test to release” system to reduce quarantine got off to a “chaotic start” this morning after it transpired that only three of its approved test providers were open. Under the scheme, which was announced on 24 November, travellers who wish to leave quarantine early can do so by taking a coronavirus test [...]
Vaccine ‘gamechanger’ will see UK economy bounce back sharply, analysts say December 15, 2020 The coronavirus vaccine will help the UK economy recover more rapidly than most experts think, according to economists at consultancy Capital Economics (CE) who predicted Covid will barely affect growth in the long-run. The respected economics consultancy predicted the economy would grow by about 7.5 per cent in both 2021 and 2022, after shrinking by [...]