Building business resilience for a better future November 5, 2020 | City Talk The standout figure from EY’s latest profit warning analysis is the 34% of companies that have issued a profit warning in the first nine months of 2020. That’s over a third of companies that have materially downgraded their earnings forecasts at least once, compared with 23% in the whole of 2001 and 18% in 2008. [...]
Drinkers and shoppers flock to high streets to toast last night before lockdown November 5, 2020 Drinkers and shoppers flocked to pubs and high streets yesterday ahead of the introduction of a new nationwide coronavirus lockdown in England. The latest footfall data showed that high street visitor numbers surged 23.5 per cent on Wednesday compared to the previous week as consumers squeezed in a final pint or shopping trip before restrictions [...]
Rishi Sunak’s furlough extension ‘to cost £6.2bn a month’ November 5, 2020 The chancellor’s extension of the furlough scheme until March will cost around £6.2bn per month, the Resolution Foundation think tank has said. Sunak today announced a major U-turn, saying he would extend the scheme until the end of March rather than ending it this year. The job retention scheme – commonly known as furlough – [...]
Editorial: Chancellor’s move is a five-point-turn that has already cost jobs November 5, 2020 If it wasn’t such a serious matter, Rishi Sunak’s description of his furlough u-turn today as the result of a flexible and agile approach would have been darkly comic. Because a U-turn it most certainly is, albeit not of the handbrake variety. Instead, it has been by degree, a five-point turn that has already cost [...]
US election: Stocks jump and FTSE 100 climbs amid rush into big tech November 5, 2020 Wall Street stocks jumped again and the FTSE 100 rose as investors snapped up big tech and sold government bonds and the dollar in response to the ongoing US presidential election. Prior to the election, investors had bet that a strong Joe Biden victory would lead to a big stimulus package that would encourage growth. [...]
Coronavirus pressure drives down number of permanent jobs November 5, 2020 The number of permanent staff appointments fell in October as rising Covid-19 cases weighed heavily on recruitment plans, with jobs in retail, hotels and catering hit particularly hard. Greater uncertainty drove a marked rise in temporary placements, according to the latest KMPG and REC report on jobs, and overall demand for staff fell. Widespread reports [...]
Chancellor’s furlough extension ‘the right call’, say business bodies November 5, 2020 Business bodies have welcomed the chancellor’s extension of the furlough scheme until the end of March as “the right call”, but warned there was “more to do” to help businesses through winter lockdowns. Rishi Sunak today announced additional financial support for employees across the UK unable to work amid national lockdowns. The government will pay up [...]
Bank of England goes big with £150bn stimulus amid second lockdown November 5, 2020 The Bank of England will inject £150bn more stimulus into the UK economy to help it handle a new England-wide lockdown, and predicted that growth would go into reverse in the final three months of the year. The big increase in bond-buying – which came as the BoE left interest rates untouched at 0.1 per [...]
Rishi Sunak extends furlough scheme until end of March November 5, 2020 Chancellor Rishi Sunak has extended the furlough scheme until the end of March, following days of wrangling over fresh financial support for businesses during the second national lockdown. The furlough scheme, which was due to wind down last Saturday, will be rolled out for the next five months — a year after it was first [...]
London coronavirus cases falling in more than half of boroughs November 5, 2020 Coronavirus cases are falling in more than half of London boroughs, according to official figures, as the capital begins to see the effects of the rule of six and orders to work from home. Latest figures from Public Health England showed that cases of Covid-19 are falling in 19 out of 32 London boroughs, suggesting [...]