Retail footfall soars over bank holiday weekend May 26, 2020 Retail footfall soared over the weekend compared to the Easter bank holiday as shoppers made the most of the relaxation of lockdown restrictions in England. High street footfall surged 49 per cent yesterday compared to Easter Monday, while coastal towns saw visitor numbers jump 62 per cent. Footfall at retail parks was up 42 per [...]
Coronavirus: Minister resigns over Dominic Cummings lockdown row May 26, 2020 A government minister has resigned over senior adviser Dominic Cumming’s lockdown trips. Douglas Ross, MP for Moray, said that while he accepted Cummings’ justification for his trips, this was “not shared by the vast majority of people who have done as the government asked”. Ross, who also served as under-secretary of state for Scotland, said [...]
Lufthansa secures €9bn bailout from German government May 26, 2020 Lufthansa was last night saved from collapse after securing a €9bn (£8bn) rescue deal from the German government. The bailout, which is the largest German corporate rescue since the start of the coronavirus crisis, will see the government take a 20 per cent stake in the airline, which it intends to sell by the end [...]
Coronavirus: New York Stock Exchange trading floors reopen May 26, 2020 The New York Stock Exchange (NYSE) will today reopen its trading floors following a two-month closure caused by the coronavirus outbreak. In March the bourse announced it would close its trading floor and move to electronic trading for the first time in its history after one employee and a trader tested positive for Covid-19. In [...]
The City View: ‘The state is weak where it should be strong and strong where it should be weak’ May 26, 2020 In this episode Christian is joined by Dr Rainer Zitelmann, a German economist, author, historian and sociologist, for a lively discussion about the role of the state during periods of crisis. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Dr Zitelmann feels the state has failed in basic areas such as crisis prevention yet remains overbearing in [...]
Boris Johnson sets out plans for shops and markets to reopen May 25, 2020 The Prime Minister has set out plans for the second phase of easing lockdown restrictions from next week, which includes opening non-essential shops from 15 June. Boris Johnson said there will be a formal assessment of easing the coronavirus lockdown restrictions on Thursday as part of the legal review. However, he has revealed plans to [...]
UK coronavirus death toll rises by 121 to 36,914 May 25, 2020 A further 121 people in the UK have died with coronavirus, bringing the total to 36,914. The increase in deaths is the second-lowest 24-hour increase since March, and includes deaths in hospitals, care homes and the wider community. Although UK coronavirus deaths and cases are declining, there is usually a lag in the figures reported [...]
Recruitment boss warns of ‘tsunami of job losses’ once furlough scheme ends May 25, 2020 The UK is facing a “tsunami of job losses” once the furlough scheme comes to an end, according to the boss of Britain’s biggest recruiter. James Reed, chairman of online jobs site Reed, told the Telegraph he feared the labour market is heading towards a “day of reckoning” when the government’s job retention is wound [...]
Car rental firm Hertz files for US bankruptcy protection May 24, 2020 Car rental firm Hertz has filed for bankruptcy protection in the US after the coronavirus pandemic caused demand to collapse. The firm, whose largest shareholder is billionaire investor Carl Icahn, said the “sudden and dramatic” impact of coronavirus on travel demand had caused a “abrupt decline” in revenue and future bookings. A large portion of [...]
PM defends Cummings as report says adviser ‘made second Durham trip’ during lockdown May 23, 2020 Dominic Cummings reportedly made a second trip to Durham during lockdown, it has emerged this evening, as Boris Johnson resisted calls to sack his top adviser. Cummings drove 250 miles from London to Durham while his wife exhibited coronavirus symptoms in early April. Downing Street has stood by the Prime Minister’s top adviser, saying he [...]