Plus 500 boosts profit following coronavirus market volatility August 11, 2020 Trading platform Plus 500 today unveiled stellar numbers for the first half of the year with profit growing 452 per cent on the back of increased market volatility. Plus 500 boosted revenue 281 per cent to $564.2m (£431.6m) in the six months to 30 June. The company grew earnings 452 per cent to $361.8m during [...]
NHS Test and Trace to cut 6,000 staff August 10, 2020 The government plans to cut 6,000 staff from the NHS Test and Trace scheme by the end of August, it said today. Those who are left — approximately 12,000 employees — will work alongside local public health teams to reach more people who could be infected and increase their contacts in communities. The tactic is [...]
UK economy: Britain braced for GDP and jobs hit August 10, 2020 The full extent of the Covid-19 crisis on the UK economy is set to be laid bare this week with the release of two key reports. While economists have been at odds over the speed of the country’s recovery from the pandemic, this week’s figures from the Office for National Statistics (ONS) are likely to [...]
UK records another 816 positive coronavirus cases August 10, 2020 Health authorities today recorded 816 confirmed cases of coronavirus, falling back from the previous day’s total which had been the highest daily rise in infections since late June. A total of 311,641 people have now tested positive for coronavirus, official data on cases showed. The daily rate is unusually high for a starting week figure, [...]
London restaurants urge Sadiq Khan to drop congestion charge August 10, 2020 London’s restaurants and bars have called on Sadiq Khan to drop the congestion charge and encourage public transport use to boost visitor numbers following months of coronavirus lockdown. In a letter signed by top chefs and restaurateurs, including St John’s co-founder Trevor Gulliver, Angela Hartnett and D&D London’s David Loewi, the industry has urged Khan [...]
US Federal Reserve sets out capital ratios for major banks August 10, 2020 The US Federal Reserve today set out capital requirements for major banks following a round of stress tests. It marks the first time the Fed has mandated custom capital requirements for each bank under its new so-called stress capital buffer. The new requirements take effect from 1 october. Goldman Sachs and Morgan Stanley were ordered [...]
A third of UK firms plan job cuts by October as furlough scheme ends August 10, 2020 As many as one in three UK firms plan to slash jobs by October as the government winds up its coronavirus furlough scheme, a new survey has revealed. Roughly 33 per cent of companies, charities and public sector bodies said they expected to make redundancies in the third quarter, according to a poll from the [...]
Sadiq Khan: Saving London’s shops and cafes is ‘urgent priority’ August 10, 2020 Mayor of London Sadiq Khan has said keeping London’s hospitality businesses and venues open should be an “urgent priority” during the pandemic, or the city risks a downturn it may not recover from. Speaking to City A.M., Khan responded to calls from hospitality businesses to lobby for more support as London gets back on its [...]
Government says reopening schools is a ‘national priority’ August 10, 2020 Getting children back to school in September after months away is a “national priority”, the government has said. Schools were closed in March for all pupils except the children of key workers when the government announced a UK coronavirus lockdown. Classrooms were reopened in June for a small number of children. However the government has [...]
Government mulls scrapping of daily coronavirus death toll August 10, 2020 The government is considering scrapping the UK’s daily coronavirus death toll after an investigation into how the figure is tallied by Public Health England (PHE). The Telegraph reported that the findings of the investigation were expected to be reported this week, with future options including shifting to a weekly death toll. The probe was launched [...]