The City View podcast from City A.M., with Dr Gerard Lyons April 24, 2020 In this episode Christian is joined by Dr Gerard Lyons, former economic adviser to Boris Johnson. Listen to our daily City View podcast as we chart the economic fallout and business impact of the coronavirus pandemic. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Gerard gives his expert analysis of [...]
Consumer confidence teeters on brink of record low during coronavirus lockdown April 24, 2020 Consumer confidence plummeted at the beginning of April but held steady for the rest of the month as the UK adjusted to life under lockdown. The latest research showed that consumer confidence stayed at minus 34 points throughout the month, just five points above the record low reported in July 2008. The measure for the [...]
Brexit trade talks: Will the deadline be extended over coronavirus? April 23, 2020 Despite coronavirus, the UK’s chief Brexit negotiator David Frost, Boris Johnson’s so-called sherpa, and his Brussels counterpart Michel Barnier recommenced trade negotiations on Monday via video conference. The week-long negotiating round is the first of three to be held over the next six weeks. The ultimate aim is to thrash out and ratify a UK-EU [...]
Commercial landlords banned from using ‘aggressive’ rent collection tactics April 23, 2020 UK shops, restaurants and pubs will be protected against aggressive rent recovery action during the coronavirus crisis after the government issued new rules for commercial landlords. The government has temporarily banned the use of statutory demands and winding up orders until at least June following pressure from the retail and hospitality sectors. Many retail, hospitality [...]
Jury discharged due to coronavirus in fraud trial of ex-Locke Lord partner Jonathan Denton April 23, 2020 The jury in the fraud trial of Jonathan Denton – a former partner in the London office of US law firm Locke Lord – has been discharged because of fears of coronavirus. Denton, 60, was on trial alongside four other defendants facing charges of fraud by false representation. However, the 16-week trial at Birmingham Crown [...]
Daily UK coronavirus deaths drop to 616 April 23, 2020 The daily UK coronavirus death toll has dropped to 616, according to the latest figures. The figures mark a decrease from the 759 deaths reported yesterday, and take the total to 18,738. Daily deaths have gradually fallen over the last couple of days, with 823 announced on Tuesday. It comes after health secretary Matt Hancock [...]
More than 1m hospitality jobs at risk without extra government support, industry warns April 23, 2020 More than 1m hospitality jobs could be lost if coronavirus social distancing measures are extended without extra government support for the sector, the industry has warned. UK Hospitality has written to Cabinet Office minister Michael Gove to urge for more support for the country’s pubs, bars and restaurants amid concerns that social distancing measures could [...]
Independent furloughs staff and cuts pay as Covid-19 hits ad revenue April 23, 2020 The Independent today said it will furlough some of its staff and cut pay for others as the Covid-19 crisis decimates advertising revenues for news organisations. The digital-only newspaper said all employees earning more than £37,500 would have their pay slashed 20 per cent, while some would be placed on paid leave under the government’s [...]
CBILS application process ‘soul destroying’, says director of film industry business April 23, 2020 The process of applying to the lenders administering the coronavirus business interruption loan scheme (CBILS) has been “soul destroying,” the director of a small film industry business has said. Diane Nyiry of Devon-based Cine Power International told City A.M.: “I have been shocked at the way the banks have been behaving, they haven’t been very [...]
Coronavirus loans double to £2.8bn but only half are approved April 23, 2020 Banks have approved less than half of applications for coronavirus loans, as industry figures warn firms risk missing out. Loans for businesses increased £1.45bn in the week from 14 April to 21 April. It brings total lending under the Coronavirus Business Interruption Loan Scheme (CBILS) to £2.8bn, according to UK Finance data. Over 9,000 loans [...]