Bombardier to cut 2,500 jobs as Covid-19 hits aviation demand June 5, 2020 Manufacturing giant Bombardier today said it will cut 2,500 jobs in its aviation division as the coronavirus crisis sparks a slump in demand. The Canadian company said the cuts, which equate to roughly 11 per cent of its aviation unit, were necessary due to a sharp fall in orders amid the Covid-19 lockdown. “Over the [...]
Number of new coronavirus cases in the UK has halved June 5, 2020 The number of new coronavirus cases in the UK has halved, new data published today said. The survey by the Office for National Statistics (ONS), IQVIA, the University of Oxford and UK Biocentre tested individuals from 9,906 households for Covid-19 with swab tests between 17 May and 30 May. They study estimated that (0.1 per [...]
Coronavirus: Luxury car brand Bentley to cut up to 1,000 jobs June 5, 2020 Bentley today confirmed plans to cut up to 1,000 jobs in the UK as the coronavirus crisis takes its toll on the car industry. The luxury car manufacturer, which employs 4,200 people, blamed “significant effects on the short-term financial outlook” and warned it could not rule out further cuts in the future. The Volkswagen-owned company [...]
CBILS: Market Finance starts small business lending under Covid-19 scheme June 5, 2020 Market Finance today opened for loan applications from small businesses under the government’s coronavirus business interruption loan scheme (CBILS). The London fintech firm last month gained accreditation from the British Business Bank to offer loans under CBILS, which offers support to small firms impacted by the Covid-19 crisis. Market Finance will offer a term loan [...]
FTSE 100 reshuffle: Easyjet and British Gas drop out over coronavirus June 4, 2020 Four major UK companies dropped out of the FTSE 100 in last night’s reshuffle, over their exposure to the coronavirus pandemic. Pummelled by a collapse in oil prices and commercial energy demand, British Gas owner Centrica has dropped out of the UK’s top index. Cruise ship operator Carnival, whose Diamond Princess cruiseliner suffered one of [...]
Coronavirus: Lookers to slash 1,500 jobs and shutter showrooms June 4, 2020 Car dealership Lookers today said it will cut roughly 1,500 jobs and close 12 showrooms as it reels from the impact of Covid-19. The struggling motoring chain, which employs roughly 8,100 people, said it will start consultations on the cuts across the business. Lookers also said it had identified a further 12 showrooms for closure, [...]
Merkel’s coalition secures €130bn coronavirus stimulus package June 4, 2020 Chancellor Angela Merkel’s coalition government last night agreed a bumper €130bn (£116bn) stimulus package to boost Germany’s economic recovery from coronavirus. Speaking to reporters after marathon talks, Merkel said the wide-ranging package would include lower value-added tax (VAT) to boost consumption. “The size of the package will amount to €130bn for the years 2020/2021, €120bn [...]
Coronavirus: Public confidence in UK handling of crisis slumps June 4, 2020 Public confidence in their governments’ handling of the coronavirus pandemic has slumped the most in UK, a survey showed today. In May, in the Group of Seven nations as a whole, 48 per cent of respondents approved of how authorities had handled the pandemic, down from 50 per cent in April and 54 per cent [...]
Business groups hit back at 14-day quarantine plan June 3, 2020 Home secretary Priti Patel earlier this afternoon laid out the government’s plans to quarantine all international arrivals in England for 14 days. However, the confirmation of the much-discussed plans, which will come into effect from 8 June, met with dismay from business groups from across the economy. Catherine McGuiness, policy chair at the City of [...]
Supermarket delivery slots: Which grocers offer home delivery amid UK coronavirus outbreak? June 3, 2020 UK supermarkets are racing to increase capacity as the demand for home delivery services soars amid the coronavirus pandemic. All UK supermarkets are prioritising home delivery slots for those who are vulnerable, elderly, disabled or self-isolating. Many have introduced special in-store shopping hours dedicated to key workers. The surge in demand following the coronavirus outbreak [...]