Trump’s economic adviser insists China deal ‘intact’ as tensions rise May 21, 2020 White House economic adviser Larry Kudlow has sought to soothe inflamed tensions between the US and China after Donald Trump increased his criticism of the Beijing regime last night. Speaking to the Washington Post, Kudlow insisted that the landmark trade deal between the two countries remained “intact” despite the recent flare-ups. The Chinese government has [...]
On the Beach to place 20 per cent of share capital in Covid-19 fundraise May 21, 2020 Travel company On the Beach has announced it will place new shares worth up to 20 per cent of its existing share capital to raise additional funding through the coronavirus crisis. The step is the latest that the firm has taken in order to shore up its finances in the face of the crisis, which [...]
Oil prices hit highest levels since March as demand recovers May 21, 2020 Global oil prices today rose to their highest levels since early March as the market grew more stable due to global production cuts. Worldwide benchmark Brent crude rose 2.5 per cent to reach $36.64, while US standard West Texas Intermediate hit $34.30. Both measures were trading at their highest points since 11 March, before a [...]
Coronavirus: UK death toll rises by 338 to reach 36,042 May 21, 2020 A further 338 people have died of coronavirus in the UK, the Department of Health has announced this afternoon. In total, the death toll has now reached 36,042, as of 5pm yesterday evening. There were also 2,615 more confirmed cases of the virus, taking the total number of cases in the UK to 250, 908. [...]
Historic department store Macy’s set for $1bn first quarter loss May 21, 2020 Historic US department store Macy’s warned today that it could see first quarter losses of over $1bn (£820m) due to the coronavirus lockdowns. Retail outlets around the world have been battered by the stringent restrictions, which has seen many shops shut their doors for over a month on governmental instruction. In a release, Macy’s said [...]
Khan and Bailey clash over congestion charge hike May 21, 2020 A row has erupted between Sadiq Khan and one of his challengers to be the next Mayor of London over the conditions of the government’s bailout of struggling Transport for London. Yesterday, the Mayor said that the government had forced him to reinstate and expand the congestion charge as a condition of the £1.6bn rescue [...]
Astrazeneca set to supply potential coronavirus vaccine in September May 21, 2020 Pharmaceuticals giant Astrazeneca has confirmed it is prepared to deliver the first 400m doses of its potential coronavirus vaccine from September. In total, the drugmaker, which is the delivery partner for the University of Oxford, has secured the capacity to manufacture 1bn doses of the treatment over the next two years. Of the doses, 100m [...]
Venezuela sues Bank of England to force access to $1bn gold reserves May 20, 2020 Venezuela’s central bank has submitted a legal claim to make the Bank of England hand over $1bn in gold reserves so President Maduro can finance the country’s coronavirus response. According to a legal filing submitted today, Venezuela has asked the BoE to liquidate the funds and send them to the United Nations to help battle [...]
Met Office confirms hottest day of the year as mercury pushes 28 degrees May 20, 2020 The Met Office has confirmed that it is the hottest day of the year so far, with temperatures reaching 27.8 degrees at Heathrow Airport. The record comes after a string of days of hot, sunny weather, with the mercury reaching 26 degrees in London yesterday. However, the coming days will likely see cooler temperatures, with [...]
A third of North Sea oil could remain untouched due to price collapse May 20, 2020 More than a third of the remaining oil in the North Sea basin may never be extracted if prices do not improve, a new study has warned. Economists at Aberdeen University have modelled the impact of $25, $35 and $45 per barrel prices on the industry, At the lowest figure, the research finds, up to [...]
