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Visitor numbers at UK shopping destinations dive in coronavirus lockdown May 18, 2020 The number of visitors to UK shopping destinations collapsed last month during the coronavirus lockdown, according to the latest research. UK footfall plunged 84.7 per cent in April, a record decline for the retail industry, due to the mandatory coronavirus lockdown that forced shops to close and restricted the movement of consumers. Shopping centre footfall [...]
UK economy receives fresh warnings before Rishi Sunak addresses MPs May 18, 2020 Chancellor Rishi Sunak is preparing to address MPs today following new dire predictions of the impact of coronavirus on the UK economy. Sunak is set to face questions over how the UK will pay for huge public borrowing currently propping up the economy. The Treasury boss extended his job retention scheme to October last week, [...]
Jay Powell: US economy could shrink 30 per cent over coronavirus May 18, 2020 Federal Reserve chairman Jay Powell has warned the US economy could “easily” decline by 20 to 30 per cent over the coronavirus pandemic. The US central bank boss also warned the economic downturn could continue until late 2021, and there may be no recovery until scientists create a vaccine. Powell called on the Trump administration [...]
Job market set for ‘significant’ downturn despite furlough scheme May 18, 2020 The UK job market is set for a “significant turn for the worse” over the next three months, a new report from the Chartered Institute of Professional Development (CIPD) has found. According to the research, more than half of private sector firms are preparing to freeze pay for the next 12 months, while hiring intentions [...]
Coronavirus: UK death toll rises by 170, the smallest increase since day after lockdown May 17, 2020 The number of people who have died in the UK from coronavirus rose by 170 to 34,636, business secretary Alok Sharma has announced. The rise is the lowest daily increase since 24 March, the day after lockdown measures were implemented. It also represents a sharp drop from the previous 24 hours, in which 468 more [...]
Treasury mulling plans for ‘bad bank’ to manage stakes in bailed-out firms May 17, 2020 The Treasury is considering plans to develop a so-called “bad bank” in order to hold stake in bailed out companies, the Sunday Times reported, amid fears that key firms could fail due to the coronavirus pandemic. The initiative reflects similar steps taken by the Labour party during the 2008 financial crisis, when it set up [...]
Heathrow Airport to begin temperature screening trial this week May 17, 2020 Passengers arriving at Heathrow Airport’s terminal two will from Thursday be screened to see if they have high temperatures in an attempt to identify whether they have coronavirus. The airport will implement thermal screening technology in the immigration area, which will automatically scan anyone passing through the terminal. Later, it will also begin to use [...]
All care homes residents and staff to be tested for coronavirus by early June, health secretary says May 15, 2020 Health secretary Matt Hancock told the government’s daily coronavirus briefing today that all care home patients and staff would be tested for covid-19 by early June. The government has been critcised for the measures taken to protect care home residents from covid-19 which is still a serious problem in the care system. Hancock said there [...]
Coronavirus: 384 more deaths recorded in the UK May 15, 2020 The number of coronavirus deaths in the UK has risen by 384 to 33,998, the Department of Health has said. The latest death toll counts those who tested positive for coronavirus and died by 5pm on 14 May. As of 9am this morning, the department said that it had carried out 2,353,078 tests in total, [...]
Nissan considers moving Renault production to Sunderland plant May 15, 2020 Nissan is considering moving the manufacturing of two Renault SUV models from Barcelona to its Sunderland plant, it is reported. Such a move could secure thousands of British manufacturing jobs at Nissan, which committed £400m in extra funding to the factory in March. The Japanese car manufacturer is reportedly in talks with its strategic partner [...]