Sadiq Khan: Saving London’s shops and cafes is ‘urgent priority’ August 10, 2020 Mayor of London Sadiq Khan has said keeping London’s hospitality businesses and venues open should be an “urgent priority” during the pandemic, or the city risks a downturn it may not recover from. Speaking to City A.M., Khan responded to calls from hospitality businesses to lobby for more support as London gets back on its [...]
Hong Kong media tycoon Jimmy Lai arrested under new security law August 10, 2020 Hong Kong media owner Jimmy Lai was arrested by police today under the territory’s draconian new security law. Lai was accused of collusion with foreign forces and the offices of his Apple Daily newspaper were raided by more than 200 police officers. Lai is the most high-profile victim of a Beijing-backed crackdown following the passing [...]
Government says reopening schools is a ‘national priority’ August 10, 2020 Getting children back to school in September after months away is a “national priority”, the government has said. Schools were closed in March for all pupils except the children of key workers when the government announced a UK coronavirus lockdown. Classrooms were reopened in June for a small number of children. However the government has [...]
Saudi Aramco profit collapses but oil giant retains $75bn dividend August 10, 2020 State oil giant Saudi Aramco saw profit collapse nearly 75 per cent in the second quarter as the coronavirus pandemic decimated oil prices around the world. In the three month period, profit fell to 24.6bn riyals (£5bn), down 73 per cent from 92.6bn riyals the year before. The figure was lower than that forecast by [...]
Royal London swings to £181m loss on drop in sales and asset values August 10, 2020 Pensions provider Royal London today said it swung to a loss in the six months to 30 June which it blamed on falling asset values and slow sales during lockdown. Royal London posted a loss before tax of £181m for the six-month period, down from a profit of £397m at the half-year in 2019. Its [...]
Government mulls scrapping of daily coronavirus death toll August 10, 2020 The government is considering scrapping the UK’s daily coronavirus death toll after an investigation into how the figure is tallied by Public Health England (PHE). The Telegraph reported that the findings of the investigation were expected to be reported this week, with future options including shifting to a weekly death toll. The probe was launched [...]
Superdry secures new lending facility as coronavirus hits revenue August 10, 2020 Superdry has secured a new financing arrangement with its lenders as the designer clothing brand seeks to shore up its financial position amid ongoing disruption from the coronavirus pandemic. In a trading update, the firm said it had agreed a new £70m asset backed lending facility with HSBC and BNPP, extending the term until January [...]
Canary Wharf is ‘open for business’ as firms head back to the office August 10, 2020 As City firms prepare their return to the office, the chief executive of Canary Wharf Group has declared the development is open for business. Shobi Khan told City A.M. that everything is in place for a return to office life at Canary Wharf, which is home to some of the world’s leading firms. Companies had [...]
Monzo? I’d rather invest my tuppence in the bank August 10, 2020 “Railways through Africa. Dams across the Nile. Fleets of ocean greyhounds. Majestic, self-amortizing canals.” So enthuses Mr Banks to his dubious son Michael. An investment in the Fidelity Fiduciary Bank, in the words of director Mr Dawes, “fires the imagination”. And tuppence is all you need to open an account. Never has the promise of [...]
Lebanon’s greatest tragedy is its political class August 10, 2020 Following this past terrible Tuesday, it is easy to think about what happened in Beirut as a horrible act of God, of impersonal fate intervening to devastate this already crumbling country. But instead it is rage at Lebanon’s corrupt and incompetent political class that ought to be the dominant emotion. Following Tuesday’s gargantuan explosion — [...]
