Coronavirus: Landsec scraps dividend as rent payments fall April 2, 2020 Retail and office space landlord Landsec suffered a drop in rent payments last month due to the outbreak of coronavirus. Landsec, which this morning scrapped its interim dividend, said 65 per cent of the rent due on 25 March had been paid by the end of the month, compared to 96 per cent the previous [...]
BCC: UK businesses face cash flow crisis in coronavirus fallout April 2, 2020 Most of Britain’s small businesses have just three months or less of cash reserves as they bid to survive the UK coronavirus outbreak, according to a study released today. And firms have already experienced a “sharp and significant” fall in domestic and overseas revenue amid a global coronavirus lockdown. The British Chambers of Commerce (BCC), [...]
Coronavirus: British Airways to suspend 36,000 workers April 2, 2020 British Airways is preparing to suspend 36,000 employees after it was forced to ground flights due to coronavirus. The airline is close to reaching a deal with union Unite after negotiating for more than a week, however some details still need to be agreed upon, the BBC reported. Up to 80 per cent of the [...]
Boris Johnson: Testing is key to unlocking UK coronavirus ‘puzzle’ April 2, 2020 Prime Minister Boris Johnson has said a big increase in testing is the way to “unlock the puzzle” of the UK coronavirus outbreak. The Prime Minister admitted the government must “massively ramp up” testing after it emerged just 2,000 frontline NHS workers have been tested for coronavirus. A rapid increase in NHS testing was necessary [...]
Coronavirus: UK house prices growth ‘grinding to a halt’ April 2, 2020 UK house prices rose three per cent last month just before the coronavirus outbreak hit, according to Nationwide figures released today. But the bank warned housing market activity is “grinding to a halt” as the coronavirus lockdown stops buyers and sellers from viewing properties. Banks have also withdrawn mortgages or made it tougher to secure [...]
Treasury set to overhaul coronavirus loan scheme to avoid insolvencies April 1, 2020 The chancellor Rishi Sunak is reportedly set to overhaul the government’s emergency coronavirus loan scheme over concerns that small and medium sized businesses may go bust before they can access the funds. Sky News reported Sunak is set to announce that the requirement for banks to assess whether companies are eligible for other funding products [...]
UK mobilises army, navy and air force reservists for coronavirus fight April 1, 2020 The UK has mobilised 3,000 army, navy and air force reservists to help fight the coronavirus pandemic, the Ministry of Defence said today. “It is expected that 3,000 reservists will be required as part of this tranche and will initially be mobilised for six months, to be kept under review,” the ministry said. “The reserve [...]
Coronavirus: M&S gives staff 15 per cent bonus April 1, 2020 Marks and Spencer will give frontline staff across its stores and supply chain a 15 per cent bonus for their work during the coronavirus pandemic. The company also said employees that “have caring commitments or who are feeling more vulnerable” are able to be furloughed voluntarily on full pay. The retailer announced this morning that [...]
Government set to launch coronavirus ‘contact tracking’ app April 1, 2020 The government is gearing up to launch a new app that will alert users if they have come too close to someone who has tested positive for coronavirus. The contact tracking app, which Brits can download on a voluntary basis, will be rolled out either just before or just after the lockdown is lifted, Sky [...]
Mike Ashley’s Frasers Group cuts executive pay amid coronavirus crisis April 1, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has reportedly agreed to cut executive pay in order to continue to pay shop floor staff during the coronavirus crisis. Members of the retailer’s senior management team have agreed to reduce their basic pay to a maximum of £40,000 per year from May. The reduction will [...]