US jobless claims: Nearly 3m more Americans file for unemployment benefits as lockdown slams economy May 14, 2020 Another 2.981m Americans filed for unemployment benefits in the week ending 9 May, according to jobless claims data released today by the US Labor Department. The previous week’s figure was revised higher to 3.18m from 3.17m jobless claims. Since the coronavirus pandemic hit the US two months ago, more than 36m Americans have filed unemployment [...]
World Trade Organization head set for shock exit May 14, 2020 The head of the World Trade Organization (WTO) is today set to announce his early departure, more than a year before the end of his term. Brazilian Roberto Azevedo, 62, has been director-general since 2013 and is serving a second term due to conclude at the end of August next year. Azevedo has summoned a [...]
Square Mile lockdown: City firms plot staff’s return to work May 14, 2020 City banks and professional services firms are drawing up plans to send staff back to the office as the UK begins to ease its coronavirus lockdown. Earlier this week Prime Minister Boris Johnson announced that people who can work from home should continue to do so, as he laid out guidance to make workplaces “Covid-secure”. [...]
Lloyd’s of London expects to pay up to $4.3bn in coronavirus insurance claims May 14, 2020 Insurance market Lloyd’s of London today said it expected to pay out $3bn-to-$4.3bn (£2.5bn-to-£3.5bn) in claims stemming from the coronavirus pandemic. This is on par with the September 11 attacks in 2001 and to the combined impacts of hurricanes Harvey, Irma and Maria in 2017. Lloyd’s said the overall cost to the global insurance industry [...]
Uber installing in-car partitions to help stop coronavirus spread May 14, 2020 Uber said today it was piloting the installation of screens in 400 cars to help stop the spread of coronavirus. Uber is working with AA to install the partitions in 400 cars in Newcastle, Sunderland and Durham. It is also working with Unilever to distribute hygiene kits to Uber drivers in the UK. Uber said [...]
Airbus could cut 10,000 jobs amid coronavirus travel slump May 13, 2020 European aerospace titan Airbus could cut up to 10,000 jobs in the coming days as it struggles with the fallout from the coronavirus pandemic. The Telegraph reported that executives are set to finalise plans for cuts to the company’s 134,000 staff next week. One source quoted in the report said cuts will be “imminent and [...]
Fed chair Jerome Powell warns the US faces extended period” of weak growth May 13, 2020 US Federal Reserve chair Jerome Powell today warned that the US faces an “extended period” of weak growth and stagnant incomes, and pledged to continue to intervene in the economy, and issued a call for additional fiscal spending. “It will take some time to get back to where we were,” Powell said. “There is a [...]
Ford to restart UK car manufacturing at Dagenham and Bridgend May 13, 2020 Ford today announced that it will restart production at its Dagenham and Bridgend plants on 18 May. The vehicle giant said production would restart with social distancing and health and safety protocols in place to limit the risk of coronavirus. The company said it was continuing to build ventilators at Dagenham as part of the [...]
Public support for government handling of coronavirus falls May 13, 2020 Public support for the government’s handling of the coronavirus crisis has fallen, according to research published today. A survey by polling firm Kantar found 49 per cent of respondents thought the government was doing fairly or very well on coronavirus, down from 61 per cent in April. Forty three per cent said its handling of [...]
UK house market to restart as government relaxes regulations May 12, 2020 The government has relaxed lockdown rules from tomorrow to allow the UK house market to restart. Under the new regulations people will be able to visit estate agents, view properties and move house without breaking lockdown rules. Those involved will be expected to observe social distancing rules and wear gloves or masks where necessary. The [...]