Santander reviews dividend and slashes executive pay amid coronavirus crisis March 24, 2020 Santander has postponed its interim dividend and slashed pay for senior management due to the coronavirus pandemic, with chair and chief executive of the Spanish bank donating half their pay to a medical equipment fund. The eurozone’s largest lender usually pays out an interim dividend in November, but will now consolidate the payment with the [...]
Global stocks set to rise sharply on Fed’s bond-buying pledge March 24, 2020 Global stocks rose overnight despite fears US President Donald Trump’s administration’s economic stimulus package faces further delays. Asian stocks surged in Tuesday trading that saw Japan’s Nikkei leap seven per cent higher and Hong Kong’s Hang Seng index jump 4.6 per cent. That came despite the Senate again blocking Trump’s near $2 trillion (£1.7 trillion) [...]
London must unite to beat coronavirus, for the sake of our city and our NHS March 24, 2020 In coronavirus, London is facing an unprecedented challenge. The actions we take today will decide who lives and dies, and whether our National Health Service will survive. Unless every single Londoner follows the government’s advice, we face losing thousands of our family, friends, and colleagues to this virus. This may be a global crisis, but [...]
Contactless spending limit increased in response to coronavirus March 24, 2020 The spending limit for contactless card payments will be increased next month in response to the coronavirus outbreak. Shoppers will be able to spend £45 using contactless payments, up from £30, from 1 April. The measure was already being considered by the industry but its introduction has been brought forward due to the coronavirus pandemic [...]
Coronavirus: Brokerage fee automation is a must in the current downturn March 24, 2020 Investment banks are embroiled in an unforeseen cost crisis when trading over the counter (OTC) markets, driven by a surge in swaps, interest rates, oil and currency derivative volumes. This month, some of the world’s largest interdealer brokers, who negotiate OTC trades between the big banks, have seen record trading volumes as sudden changes in [...]
Silver linings: Positive investment trends for stock market optimists March 24, 2020 Stocks investors are likely to be feeling battered and bruised at the moment. The coronavirus-induced bear market has seen share prices fall sharply — even the UK’s blue-chip FTSE 100 index is down more than 30 per cent since the start of the year. Many industries are facing hurdles due to the government’s self-isolation guidelines, [...]
Getting through the Covid-19 pandemic will require markets as well as strong government March 24, 2020 Covid-19 is a major shock to our system. With the UK speeding towards lockdown and much of Europe in similar or worse straits, this crisis — as with most crises — is causing people to look to their governments. This is both understandable and necessary. Rishi Sunak’s excellent pledges (and performances) last week reassured tens [...]
Coronavirus and policymaking: Mario Draghi didn’t just say ‘whatever it takes’ March 24, 2020 These are unprecedented times. Our lives as we know them have been upended: the comforts of routine squarely thrown out of the window and replaced with a combination of anxiety and dread. The coronavirus pandemic of 2020 is a black swan that no one saw coming (though we should have been better equipped) and has [...]
Coronavirus: Prime Minister announces unprecedented lockdown across UK as government battles Covid-19 March 23, 2020 The Prime Minister has imposed unprecedented restrictions on people’s movements, which will be enforced through the police, in a desperate bid to grapple with the coronavirus pandemic. In a historic address to the nation, Boris Johnson revealed that people would only be allowed to leave their home for “very limited purposes” including shopping for basic [...]
Stockpiling: Shoppers buying ‘a few extra items’ driving shelf shortages March 23, 2020 Empty supermarket shelves have been caused by customers adding an extra few items to their baskets and making more trips rather than stockpiling, according to the latest data. The average spend per supermarket trip jumped 16 per cent in the week ending 17 March to £22.13 compared to the same week a month ago. Meanwhile, [...]