BT chief executive diagnosed with coronavirus but will “work remotely” March 12, 2020 BT boss Philip Jansen has been diagnosed with coronavirus but will continue to work remotely. The telecoms group confirmed that Jansen had tested positive for Covid-19 this afternoon and as a result is in self-isolation. BT said it is now working closely with Public Health England to undertake a full deep clean of relevant parts [...]
Dame Jayne-Anne Gadhia to quit as Salesforce UK boss March 12, 2020 Former Virgin Money boss Dame Jayne-Anne Gadhia is set to quit Salesforce as its executive after just six months at the helm. Salesforce will announce tomorrow morning that Gadhia, who only joined the company last August, will step down as boss of the British business to become an adviser, according to Sky News. A Sky [...]
H20’s Alpha 10 fund suffers huge losses amid market rout March 12, 2020 A hedge fund run by H2O Asset Management reportedly suffered a large loss during this week’s market turmoil. The fund lost 15.8 per cent in one of its share classes on Monday, according to the Financial Times. Another share class of the fund reportedly lost 10.5 per cent in the same day. The $900m fund [...]
Sunak and Carney hold banking summit to discuss coronavirus outbreak March 12, 2020 The Chancellor and the Governor of the Bank of England held a banking summit today to discuss a coordinated response to support small and medium sized businesses affected by coronavirus. Mark Carney and incoming BoE Governor Andrew Bailey outlined the measures that the Bank announced yesterday morning to help mitigate the economic impact of the [...]
Canadian PM Justin Trudeau self-isolates after wife develops flu-like symptoms March 12, 2020 The Canadian prime minister Justin Trudeau is self-isolating after his wife returned from London and started to show “mild flu-like symptoms”. The PM’s wife, Sophie Gregoire Trudeau, is now being tested for coronavirus and is self-isolating awaiting test results. Her symptoms have reportedly since subsided. On doctor’s advice, the PM is self-monitoring but is not [...]
Number of UK coronavirus cases record biggest daily jump to 590 March 12, 2020 The number of confirmed cases of coronavirus in the UK has jumped from 456 to 590, marking the biggest daily increase. Two more people have died in London after testing positive for coronavirus, bringing the death toll to 10. A patient in their 80s died at Charing Cross Hospital, while a woman in her sixties [...]
Fury as IR35 is confirmed in 2020 Budget March 11, 2020 The business community hit back at Chancellor Rishi Sunak after he confirmed that reforms to IR35 were going ahead in today’s Budget. IR35 is a change to Britain’s tax laws that will clamp down on avoidance by targeting contractors for companies who are, in practice, providing the same service as employees. The change is likely [...]
Dow Jones closes in bear market as it plunges 1,400 points March 11, 2020 The Dow Jones has entered bear territory after plunging more than 1,400 points as investors panic over the coronavirus outbreak. The index dropped 1,464.94 points to 23,553.22, which means it is down 20 per cent from its recently set 52-week high. The benchmark S&P 500 closed 4.89 per cent lower while Nasdaq fell 4.37 per [...]
HSBC interim chief executive’s pay set to rise to £1.3m March 11, 2020 HSBC has revealed chief executive Noel Quinn will receive a 2.5 per cent pay rise, bringing his total salary to £1.3m, while finance boss Ewen Stevenson’s salary will rise to £741k. Last month, the bank unveiled a radical strategy overhaul alongside its annual results. Under the plans, HSBC will cut 35,000 jobs over the next [...]
Budget 2020: Government announces review of UK funds regime March 11, 2020 The government will open a review into the VAT treatment of fund management fees as part of a wider look at the UK funds regime. Annual management charges levied by fund houses are currently VAT-fee, but the fees clients pay are subject to the tax. The consultation forms part of a broader review of the [...]
