France and the Netherlands placed on UK quarantine list August 14, 2020 From Saturday, people travelling to the UK from France and the Netherlands will have to quarantine for 14 days after a surge in cases in the countries. From 4am tomorrow, those returning from the countries, as well Monaco, Malta, Turks & Caicos and Aruba will be forced to self-isolate for two weeks. They follow Spain, [...]
Natwest to bring wealth management divisions under single leadership August 14, 2020 Natwest has today announced that it will bring all of its wealth management businesses under the single leadership of private banking chief executive Peter Flavel. In a bid to strengthen its relationship with its high and ultra-high net worth clients, the lender said the move would bring together Coutts, Adam & Company, Holt’s, Drummonds, PCAIS [...]
Oil demand to contract by 8m barrels a day in 2020 August 13, 2020 The International Energy Agency (IEA) today warned that global demand for the fuel would drop 8.1m barrels per day in 2020 due to the coronavirus pandemic. According to the IEA’s monthly oil market report, demand is now set to fall to 91.9m barrels per day over the course of the year. The slump in demand [...]
US jobless claims fall below 1m for first time since pandemic began August 13, 2020 The number of Americans seeking unemployment benefits has dropped below 1m for the first time since the coronavirus pandemic began, official data today showed. According to the US labor department, 963,000 filed jobless claims last week, down 228,000 from the week before. The fall in claims was below estimates, with economists forecasting an extra 1.1m [...]
Thyssenkrupp mulls further job cuts as steel division posts huge loss August 13, 2020 German steel giant Thyssenkrupp today raised the prospect of further job cuts as it reported a €2bn loss for the first nine months of the year. The firm has already made 6,000 roles redundant under an ongoing savings programme, but finance chief Klaus Keysberg told reporters today that more cuts were being discussed. The majority [...]
Bulb to pay out £1.8m after breaking compliance rules August 13, 2020 Challenger energy brand Bulb has been ordered to pay out £1.8m after overcharging customers and blocking users from switching to its services. According to watchdog Ofgem, around 61,000 customers were affected by the compliance issues, which occurred between 2017 and 2020. The regulator said that Bulb, which has expanded rapidly in recent years to be [...]
Six per cent of people in England may have already contracted coronavirus August 13, 2020 Over 3.4m people in the UK may have already contracted coronavirus, a new study from Imperial College has shown. In the world’s largest home antibody testing programme, over 100,000 volunteers tested themselves at home using a finger prick test between 20 June and 13 July to check if they have antibodies against the virus. The [...]
Gambling giant GVC sees profit sink as coronavirus shuts betting shops August 13, 2020 Gambling giant GVC saw profit fall 14 per cent in the first half of 2020 as coronavirus forced its betting shops to remain closed through much of April and May. The firm, which owns Coral and Ladbrokes, said that the reopening of its stores meant it was “well-placed” for the rest of the year. Shares [...]
Holiday firm Tui falls to €1.1bn loss as coronavirus halts travel August 13, 2020 Tour operator Tui this morning posted a €1.1bn (£1bn) loss in the third quarter as business came to a “standstill” due to the coronavirus pandemic. The near total shutdown of its operations took the world’s largest holiday firm’s loss to €2bn over the past nine months, it added. Shares in the Anglo-German firm fell nearly [...]
National Express falls to £30m loss as coronavirus decimates demand August 13, 2020 Coach operator National Express swung to a £30m loss in the first half of 2020 after the coronavirus pandemic sent passenger demand plummeting 80 per cent. Despite the drop in passenger numbers, the bus firm said it still managed to secure 50 per cent of revenue in the period, recording cash flow of £270m over [...]
