Crispin Odey: Governments may ban private gold ownership May 20, 2020 Hedge fund tycoon Crispin Odey has warned that governments may ban private ownership of gold if they lose control of inflation in the wake of the coronavirus crisis. The price of gold has soared since the beginning of the Covid-19 pandemic as jittery investors flock to safe haven assets amid a wider recession. Odey said [...]
BT bosses to waive millions in bonuses after dividend suspension May 20, 2020 BT’s top executives are said to be waiving cash bonuses for the next two years in a bid to appease investors following the company’s decision to suspend its dividend. Chief executive Philip Jansen and finance director Simon Lowth will defer their combined bonus payments of £2.2m for the next three years. They will also turn [...]
US arrests two men over escape of former Nissan boss Carlos Ghosn May 20, 2020 US authorities today arrested two men wanted by Japan on charges of aiding the escape of former Nissan boss Carlos Ghosn from the country. Prosecutors have accused former US special forces soldier Michael Taylor and his son Peter of helping Ghosn flee to Lebanon last year to avoid trial in Japan over alleged financial misconduct. [...]
UK inflation: What are people buying during coronavirus lockdown? May 20, 2020 There was further confirmation of the economic impact of the Covid-19 crisis this morning when new figures revealed a slump in inflation. The UK inflation rate tumbled to just 0.8 per cent in April, down from 1.5 per cent the previous month and marking the lowest level since August 2016, according to the Office for [...]
TUC calls for shake-up of UK economy during Covid-19 recovery May 20, 2020 The Trades Union Congress (TUC) has urged the government to roll out a raft of radical economic reforms to tackle the “despair of mass unemployment” and aid the UK’s coronavirus recovery. In a report published today the TUC, which represents most UK unions, called for the creation of a national recovery council to oversee an [...]
BBC Three could return as on-air channel after Normal People and Fleabag success May 20, 2020 BBC Three could be brought back on air as the broadcaster looks to capitalise on a string of recent hits that have resonated with its vital youth audience. The channel was taken off linear TV and became online-only four years ago to save £30m, with the BBC arguing that young people were increasingly watching shows [...]
Coronavirus: Government launches £500m Future Fund for startups May 20, 2020 Startups that have been impacted by the coronavirus outbreak will now be able to apply for emergency support under the government’s £500m Future Fund scheme. The fund, which opened for applications today, will offer UK-based startups convertible loans of between £125,000 and £5m to support continued growth and innovation across a range of sectors. The [...]
Facebook launches new shopping feature to help small firms move online May 19, 2020 Small businesses will be able to open a single online store selling products through Facebook and Instagram thanks to a new feature launched by the tech giant today. Facebook Shops, which will be rolled out over the coming months, allows customers to buy products through a firm’s business Facebook page or Instagram profile, or through [...]
UK coronavirus death toll rises by 545 as official total passes 35,000 May 19, 2020 A further 545 people have died from coronavirus in the UK as the official total death toll passed 35,000. Speaking at the government’s daily briefing, environment secretary George Eustice said the country’s death toll now stood at 35,341. Another 2,412 people have tested positive for coronavirus since yesterday, he added. The figure is a sharp [...]
Rishi Sunak warns swift economic recovery ‘not obvious’ May 19, 2020 Chancellor Rishi Sunak has poured cold water on hopes that the UK economy will make a rapid recovery from the sharp economic downturn caused by Covid-19. Speaking in front of the Lords economic committee today, Sunak warned it was “not obvious that there will be an immediate bounce back”. “It takes time to get back [...]
