This pandemic may lead to more trade barriers, but is that such a bad thing? March 25, 2020 The current crisis dominates everything, from trade to everyday life. But, within a relatively short space of time, it will pass. What next? What will be the “new normal” after coronavirus? A key policy aim across the west for many decades since the Second World War was to reduce barriers to international trade. But it [...]
PM warns Mike Ashley – obey the rules or face the consequences March 25, 2020 Prime Minister Boris Johnson has warned Sports Direct boss Mike Ashley to “obey the rules or to expect the consequences”, after the retailing heavyweight insisted staff must continue working during the coronavirus outbreak. During a bumper PMQs, Johnson was repeatedly asked about the situation facing workers, particularly self-employed, who currently have no additional support beyond [...]
Qantas raises over AU$1bn to guard against coronavirus disruption March 25, 2020 Australian flag carrier Qantas has secured over AU$1bn (£501m) worth of new funding as the airline seeks to bolster its financial position against the ongoing coronavirus disruption. The debt, which has been taken out against seven of the airlines’ 787-9 planes, will hold for 10 years at an interest rate of 2.75 per cent. This [...]
Number of coronavirus deaths in Spain surpasses China March 25, 2020 A total of 3,434 coronavirus patients have died in Spain, surpassing the number of recorded deaths in China where the outbreak began. As Spain surpassed China’s 3,285 cases, Europe has now become the epicentre of the coronavirus outbreak. Spain has the world’s second-highest tally of coronavirus deaths, just behind Italy, which has recorded more than [...]
Debate: Is it appropriate for businesses to invoke a ‘wartime spirit’ during the coronavirus outbreak? March 25, 2020 As the coronavirus outbreak curtails practically every aspect of our daily lives, some have compared efforts to fight it to the fabled “wartime spirit” of World War II. Is this appropriate, asks City A.M.? Yes, says Rob Nowell, global marketing director at Edge by Ascential Around 80 years ago, World War II caused entire sectors [...]
Coronavirus advice for workers must be clearer, says business committee chair Rachel Reeves March 25, 2020 The government needs to issue clearer coronavirus guidance for workers to address concerns employees are being unnecessarily forced to go into work, said Rachel Reeves, chair of the business select committee. In a letter to business secretary Alok Sharma, Reeves said the committee had received hundreds of messages from workers concerned about their employers’ response [...]
Coronavirus: Upper Crust owner SSP launches major cash call and cuts jobs March 25, 2020 The owner of Upper Crust and Camden Food Co. SSP will issue new shares and slash jobs it said in a wide-ranging trading update on its strategy to survive the coronavirus slump. SSP will close outlets and reduce staff after encountering a 85 per cent plunge in business across its European sites amid the coronavirus [...]
Government and Bank of England urge banks to keep lending despite coronavirus uncertainty March 25, 2020 British banks must continue to provide loans during the coronavirus pandemic to ensure that previously viable companies do not fail due to the crisis, the government and Bank of England said. In a joint letter to the chief executives of major banks, Chancellor Rishi Sunak, Bank of England governor Andrew Bailey and the interim chief [...]
One-third of Tube staff off sick as Underground trains still packed March 25, 2020 Mayor Sadiq Khan has urged more Londoners to stay at home today amid the coronavirus lockdown as he repeated his call for the government to ban construction work in the capital. Khan warned London’s Tube and bus transport network is approaching breaking point, with almost a third of Transport for London (TfL) workers off sick [...]
Over 400,000 volunteer to help NHS tackle coronavirus March 25, 2020 The number of people volunteering to help the NHS tackle the coronavirus pandemic has surged past 400,000, Prime Minister Boris Johnson said. Speaking at Number 10’s daily press conference on the outbreak, Johnson said some 405,000 people had put themselves forward for the scheme within 24 hours of a government appeal. Read more: Coronavirus may [...]