Rishi Sunak: Financial support for self-employed people to increase November 2, 2020 Chancellor Rishi Sunak this morning said that self-employed people would be given extra support due to the onset of a new national lockdown. Speaking to the BBC, he said that the cap on current grant of 40 per cent of trading profits would be increased. The grant is paid out in a single instalment covering [...]
Ryanair dives to €200m loss as coronavirus decimates passenger numbers November 2, 2020 Ryanair crashed to a €197m (£177.8m) loss in the first half of the year as the budget carrier flew just 17m due to the coronavirus pandemic. From the start of lockdown in March to the end of June, 99 per cent of the Irish airline’s planes were grounded amid stringent travel bans and health concerns. [...]
GVC warns that new lockdown could cost it £43m November 2, 2020 Gambling giant GVC has warned that it will lose £43m if all of its betting shops have to close due to the new coronavirus lockdown. The Ladbrokes and Coral owner said that its forecasts took into account new government support schemes. Under the new restrictions announced on Saturday, GVC will have to close all its [...]
Hiscox sets aside $75m for catastrophe claims as gross premiums grow November 2, 2020 Insurance firm Hiscox said that it had set aside $75m (£58.1m) for natural disasters claims in the third quarter as gross written premiums grew in the first nine months of the year. In a trading statement this morning, the FTSE 250 firm revealed the decision to set aside the money after another autumn of dramatic [...]
‘No alternative’ to second lockdown, PM to tell MPs November 2, 2020 Boris Johnson is expected to tell MPs that there is “no alternative” to a second lockdown later today as he seeks to garner support for new restrictions which are due to come into effect on Thursday. In a statement to Parliament, he will warn that deaths from coronavirus could be twice as high as in [...]
Weekly outlook, 2-6 November: FTSE heavyweights in spotlight as election day arrives November 2, 2020 It’s election day at last, and while the outcome of Tuesday’s vote in the US will drive the headlines for much of this week and beyond, there’s still a full slate of results and economic updates in store for UK markets. With coronavirus cases now surging at an alarming rate, Boris Johnson has announced a [...]
Gousto becomes latest UK tech ‘unicorn’ after lockdown surge November 2, 2020 Recipe box firm Gousto has become the UK’s latest tech “unicorn” after raising £25m in a new funding round. The new investment, which came from existing partners Perwyn and BGF, means that the company is now achieved a valuation of over $1bn. It is the fourth tech firm to gain the mantle this year. Gousto, [...]
Exclusive: Downing to raise £200m for renewable energy fund November 2, 2020 Downing Renewables and Infrastructure Trust (DORE) will today announce a £200m capital raise in order to invest in a range of renewable energy assets. The fund will put money into a variety of clean energy sources, including hydro, solar, wind and geothermal power. The assets in question will be spread across the UK, Ireland and [...]
West End braces to lose £2bn in Christmas sales due to new lockdown November 2, 2020 Retailers in London’ shopping district are set to lose up to £2bn in sales across the eight-week period up to Christmas, new data released today has found. According to the New West End Company, only 9m people will visit the West End in the festive season due to the new month-long lockdown. Previously the group, [...]
Taxpayers to bear brunt as lenders hike interest rates on emergency loans November 1, 2020 Taxpayers are bearing the brunt of hefty interest rates and arrangement fees charged by lenders providing emergency loans for struggling businesses. The Sunday Times reported that some specialist lenders are charging fees as high as five per cent of the whole loan, and in some cases charging interest rates as high as 15 per cent. [...]
