Coronavirus: Ineos to build third European hand sanitiser plant March 31, 2020 Chemicals company Ineos said today it will build a hand sanitiser plant in France in 10 days to help meet a European shortage. Ineos has already begun production on hand sanitiser plants in the UK and Germany. Last week the privately owned UK business said it would build UK and German plants to supply schools, [...]
Aston Martin furloughs workers as production suspended March 30, 2020 UK sports car-maker Aston Martin said today it would furlough some of its workers after the coronavirus crisis forced it to close factories. Under the government scheme employers can claim for 80 per cent of wage costs of up to £2,500 for staff they place on leave. The company suspended production at its Gaydon and [...]
Standard Chartered to freeze staff and cut bonuses to weather crisis March 30, 2020 Ftse 100 bank Standard Chartered has told staff it is freezing hiring for two months and said it is likely to cut bonuses, as it grapples with the fallout from the coronavirus pandemic. The Asia and Africa-focused bank said it would also re-prioritise discretionary investment for the time being, the company said in a memo [...]
Law and accountancy firms weigh coronavirus profit distribution delay March 30, 2020 Law and accountancy firms are weighing up delaying partner profit distributions to preserve cash to ride out the coronavirus-triggered economic crash. It is one strategy being considered among the Big Four accountancy firms and major law firms such as Linklaters and Pinsent Masons. US law firm Reed Smith, which has a sizeable London operation, confirmed [...]
Coronavirus: Bank of England extends emergency liquidity measure March 30, 2020 The Bank of England said today it would extend an emergency liquidity measure, the three-month Contingent Term Repo Facility (CTRF), to run until the end of April and it would also hold a one-month CTRF operation each week until 1 May. The Bank reactivated the facility last week as part of its attempts to keep [...]
Johnson & Johnson shares rise after it strikes $1bn coronavirus vaccine deal with US government March 30, 2020 Shares in pharmaceutical giant Johnson & Johnson rose today after it said it had agreed a $1bn (£810m) deal to supply the US government with coronavirus vaccine. Johnson & Johnson said it would start human testing of its experimental coronavirus vaccine by September, with the goal of having it ready for emergency use in early [...]
Coronavirus: 159 more deaths in England March 30, 2020 The National Health Service said today that a further 159 patients had died in England after testing positive for coronavirus taking the total to 1,284. A further six people have died in Scotland, taking the total to 47, Scottish first minister Nicola Sturgeon announced. In Wales, 62 people have died after contracting coronavirus, an increase [...]
Jefferies Group finance chief dies of coronavirus complications March 29, 2020 Investment bank Jefferies Group said today that its chief financial officer had died from coronavirus complications. Peg Broadbent, 56, was based in New York but grew up in London and qualified as an accountant in the UK with PwC. Chief executive Rich Handler and president Brian Friedman said: “We are heartbroken and grieve that our [...]
State could be landed with £8bn rail pension deficit March 29, 2020 Taxpayers could be on the hook for £8bn of railway pensions after the government effectively nationalised a portion of the rail system after coronavirus hit demand. The Telegraph reported that the massive government intervention could shift the pension deficit of franchises from the private sector to the public sector. The Department for Transport (DfT) last [...]
Trump says Meghan and Harry must pay for own protection in the US March 29, 2020 US President Donald Trump said today that prince Harry and his wife Meghan Markle must pay for their own security if they move to the US. “I am a great friend and admirer of the Queen & the United Kingdom. It was reported that Harry and Meghan, who left the Kingdom, would reside permanently in [...]