EU leaders make progress in €750bn coronavirus fund talks July 20, 2020 European leaders edged close to agreeing to the terms of a €750bn coronavirus bailout fund this morning after the “frugal four” governments signalled they were willing to compromise. Negotiations ended in the small hours of the morning after the Netherlands, Austria, Denmark and Sweden were satisfied with €390bn of the emergency fund being made available [...]
UK housing market enjoys ‘mini-boom’ as asking prices soar in July, says Rightmove July 20, 2020 Residential property asking prices soared in July as coronavirus lockdown restrictions were lifted, sparking a “mini-boom” in the UK housing market. The average asking price of property coming to market in July was up 2.4 per cent compared to March, before the coronavirus lockdown was announced. The 3.7 per cent annual rate of increase recorded [...]
EY told Wirecard that KPMG audit ‘risked misinterpretation’ July 20, 2020 EY reportedly told Wirecard that a draft of an independent audit lacked “context” and could lead to wrong conclusions about the firm. EY, which has been the German payments firm’s auditor for over a decade, intervened a day before the publication of the KPMG report in April, which cast doubt over Wirecard, according to the [...]
Virgin Australia bondholders submit rival buyout bid July 20, 2020 Virgin Australia bondholders have submitted a rival deal to Deloitte to buy the embattled carrier out of administration, a spokesman said today. Last month US investment fund Bain Capital emerged as the victorious bidder for the airline, in a deal worth an undisclosed sum. Although the offer eclipsed proposals offered by Cyrus Capital Partners and [...]
Amigo Loans swings to a loss after huge complaints bill July 20, 2020 Lender Amigo swung to a loss after taking a hit from the coronavirus pandemic and a surge in customer complaints. The figures Amigo reported a £37.9m loss for the year to the year ended 31 March 2020, down from a profit of £111m the year before. This was due to the cost of complaints jumping [...]
Synairgen hails coronavirus drug trial ‘breakthrough’ July 20, 2020 A new protein-based coronavirus drug could dramatically reduce the number of patients who need intensive care, according to the preliminary results from a trial. FTSE-listed Synairgen today said the trial could represent a “major breakthrough” in the fight to find effective coronavirus drug treatments. Synairgen saw a 79 per cent reduction in the odds of [...]
DEBATE: Is Rishi Sunak’s job retention bonus scheme the right strategy for supporting the retail sector? July 20, 2020 Is Rishi Sunak’s job retention bonus scheme the right strategy for supporting the retail sector? Helen Dickinson OBE, chief executive of the British Retail Consortium, says YES. The job retention bonus will provide welcome support as retailers think about future requirements and bring back thousands of staff over the next few months who have been [...]
Time for the UK to recognise the prospect of an independent Scotland July 20, 2020 The debate on Scotland’s future is changing. Opinion polls have begun showing majority support for independence. The two most recent polls have put the “Yes” vote at 54 per cent, nearly a full inversion of the 2014 referendum result. Brexit has been the main driver of this shift. The Scottish electorate consistently rejected leaving the [...]
In allying with Iran, China signals the start of Cold War II July 20, 2020 To read the lion’s share of today’s headlines, you would think the western world is in its final days, a Rome tottering on the edge of the abyss. And yet geopolitically, for all our leaders’ unheroic bungling of the coronavirus pandemic, our primary strategic rival China has had a far worse innings. Overconfident President Xi [...]
