DEBATE: Should the government take equity stakes in struggling businesses to help support them? August 21, 2020 Should the government take equity stakes in struggling businesses to help support them? Leigh Webb, associate director and head of private equity sponsor coverage at finnCap Group, says YES. While I agree that, on the whole, government ownership is far less effective than using equity or capital markets when bailing out companies, this is not [...]
The City View: Rachel Cunliffe on the government’s competence problem August 21, 2020 In this episode Christian is joined by City A.M.‘s comment editor, Rachel Cunliffe, who expands on her forthright column from earlier in the week, criticising the education secretary Gavin Williamson. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Rachel talks about the failure of leadership and accountability surrounding the A-level marking fiasco, [...]
Consumer confidence low ahead of ‘inevitable’ post-furlough job losses August 21, 2020 Consumer confidence remained low throughout August ahead of “inevitable” redundancies when the government winds down the coronavirus job retention scheme. According to the latest research, consumer confidence was minus 27 this month, flat compared to July’s reading. However, the coronavirus pandemic has seen optimism plummet since August 2019, when consumer confidence stood at minus 14. [...]
Portugal added to UK’s Covid-19 safe travel list August 20, 2020 Britons on holiday in Portugal will no longer need to quarantine when they return after the country was added to the UK’s safe travel list. The rule change, which comes into force at 4am on Saturday, means UK tourists do not have to self-isolate for two weeks after returning from Portugal. Travellers that return from [...]
Support for Lebanese wine industry soars after Beirut explosion August 20, 2020 Wine drinkers raced to snap up a box of Lebanese tipples to support the country following a huge explosion in Beirut, with the special offer selling out in record time. The Wine Society’s box of 12 bottles to support the country’s wine industry sold out within hours after going on sale earlier this week. It [...]
Are the Democrats sleepwalking into the US election? August 20, 2020 The first three days of the Democratic National Convention have progressed in the same conservative, risk averse manner of Joe Biden’s campaign so far. Despite having addresses from three former presidents, one former presidential nominee and a host of party grandees, there will be little if anything that will be remembered from the past three [...]
Estee Lauder to cut 2,000 jobs due to coronavirus pandemic August 20, 2020 Beauty brand Estee Lauder is preparing to cut up to 2,000 jobs due to the impact of the coronavirus pandemic on demand. The firm said it will slash between 1,500 to 2,000 jobs, or about three per cent of its workforce globally. It also said it is planning to close between 10 per cent to [...]
Oil prices fall on oversupply and US jobless data August 20, 2020 Oil prices dropped today after it emerged producer cartel faces a huge surplus and the number of new US jobless claims climbed back above 1m. Brent crude fell 2.7 per cent to $44.13 per barrel, while benchmark West Texas Intermediate was down three per cent at $41.62 per barrel. It followed reports that some Opec [...]
Steve Bannon charged with fraud conspiracy over US-Mexico border wall funding August 20, 2020 Steve Bannon, a former adviser to US President Donald Trump, has been charged with conspiracy to commit wire fraud in relation to a fundraising campaign to support the building of the US-Mexico border wall, the US Justice Department said today. Trump’s former White House chief strategist was arrested on charges that he defrauded donors to [...]
Tower of London ravens flee to find food as visitor numbers fall August 20, 2020 Ravens at the Tower of London are fleeing to look for food due to sluggish visitor numbers at the tourist attraction. According to legend, if six ravens permanently abandon the tower, which houses the Crown Jewels, the kingdom, the crown and the building will fall. The attraction closed on March 20 ahead of the UK’s [...]
