BoE not remotely close to decision on negative rates, says chief economist May 26, 2020 The Bank of England’s chief economist has said the bank is not remotely close to any decision on taking interest rates below zero to cope with the pandemic. Andy Haldane said the key factors for the BoE to consider were the consequences of negative rates for banks and lenders, which would squeeze margins. “Those are [...]
FRC probes KPMG and PwC’s Eddie Stobart audits May 26, 2020 The accounting watchdog has opened investigations into audits by KPMG and PwC of haulage firm Eddie Stobart Logistics. In August, Eddie Stobart sacked its chief executive and suspended trading in its shares after an accounting investigation found its 2018 profits had been overstated by £2m. A review of the company’s accounts, undertaken by finance chief [...]
Treasury extends CLBILS loan size to £200m as total support hits £32bn May 26, 2020 The Treasury is extending the CLBILS loan size to £200m after announcing more than £32bn in loans and guarantees have been awarded to UK firms. Chancellor Rishi Sunak today announced that businesses have benefitted from over £32bn in loans and guarantees to support them during the coronavirus crisis. With lockdown restrictions limiting business, Sunak introduced [...]
S4 Capital acquires data analytics group in face of coronavirus May 26, 2020 The coronavirus crisis will not stop Martin Sorrell’s expansion plans, with his business S4 Capital today acquiring a data analytics group. Marketing guru Sorrell said: “Now is not the time to slow down, as we see Covid-19 accelerating digital transformation – at all levels, consumer, media and enterprise.” His comments came as S4 Capital today [...]
Airline stocks rise on lockdown hopes and Lufthansa bailout May 26, 2020 Airline stocks were among the best performers on the FTSE 100 this morning as investors were cheered by further easing of lockdown measures and Lufthansa’s rescue deal. On Monday Germany agreed a €9bn lifeline for Lufthansa, agreeing a bailout plan which gives the government a veto in the event of a hostile bid. The German [...]
Boris Johnson sets out plans for shops and markets to reopen May 25, 2020 The Prime Minister has set out plans for the second phase of easing lockdown restrictions from next week, which includes opening non-essential shops from 15 June. Boris Johnson said there will be a formal assessment of easing the coronavirus lockdown restrictions on Thursday as part of the legal review. However, he has revealed plans to [...]
UK coronavirus death toll rises by 121 to 36,914 May 25, 2020 A further 121 people in the UK have died with coronavirus, bringing the total to 36,914. The increase in deaths is the second-lowest 24-hour increase since March, and includes deaths in hospitals, care homes and the wider community. Although UK coronavirus deaths and cases are declining, there is usually a lag in the figures reported [...]
Dominic Cummings: ‘I don’t regret what I did’ May 25, 2020 Dominic Cummings has said he does not regret breaking lockdown measures and has defended his trip to his parents’ house in Durham. Cummings has been under fire since a joint investigation by the Mirror and the Guardian revealed he, his wife and young son had travelled to his parents’ house in Durham in late March, [...]
All the Tory MPs who have called for Dominic Cummings to go May 25, 2020 The Prime Minister is facing renewed pressure from Tory MPs to sack Dominic Cummings. Boris Johnson has stood by his adviser Dominic Cummings despite growing calls for his resignation after breaking lockdown rules. Number 10 initially batted off the Guardian and Mirror investigation into Cummings’ movements during lockdown as activities of “campaigning newspapers”. However, Tory [...]
Dominic Cummings timeline: What we know of adviser’s lockdown movements May 25, 2020 The PM’s chief adviser Dominic Cummings is facing calls to resign after he allegedly broke lockdown rules to travel to his parents’ home in Durham. Boris Johnson has backed his aide saying he acted “responsibly, legally and with integrity” following a “father’s instinct”. Cummings has said he made the journey to his parents’ property for [...]
