UK to borrow record £385bn in bond markets to fund Covid support July 16, 2020 UK government fundraising in the bond markets will hit a record £385bn between April and November after it announced plans to raise £110bn more from September. The unprecedented bond sales come as the government racks up the biggest peacetime budget deficit in hundreds of years. It has spent big to keep the economy on its [...]
Julian Lewis calls Tory party sacking ‘strange’ after Grayling plot July 16, 2020 Sacked Conservative MP Julian Lewis has called his removal from the party “strange” and labelled Downing Street’s attempt to install its own candidate to the chair of the Intelligence and Security Committee (ISC) as “improper”. Former transport secretary Chris Grayling had been handpicked by Boris Johnson to take the reins of the powerful committee, however [...]
UK unemployment: 650,000 Brits lose jobs in lockdown July 16, 2020 Around 650,000 people lost their jobs between March and June, official figures showed today, as the UK labour market “weakened markedly” during lockdown. Job losses led to a 0.3 per cent drop in total pay in May compared to a year earlier, the Office for National Statistics (ONS) said. That is a 1.3 per cent [...]
Ikea launches vegetarian meatball in climate crusade July 16, 2020 Vegetarians will now be able to try Ikea’s iconic meatballs after the Swedish giant announced it would launch a vegetarian version of the classic food. From 3 August, customers will be able to buy the new creation, named “plant balls”, which Ikea said were a “more sustainable” take on one of its best-loved products. Made [...]
Apple’s victory throws EU’s digital tax into doubt July 16, 2020 Apple’s successful appeal against a €13.1bn fine from the European Commission could leave the EU’s digital tax strategy at risk of unravelling, experts have warned. A top European court yesterday annulled a decision passed by the Commission in 2016 ordering Apple to pay Ireland more than €13bn in back taxes. It said the executive body [...]
London faces ‘historic rise in unemployment,’ warns Sadiq Khan July 16, 2020 There could be an “historic rise in unemployment” in London if the government does not do more to protect jobs amid the continuing coronavirus pandemic, mayor of London Sadiq Khan will warn today. The number of Londoners claiming unemployment benefits has already shot up around 185 per cent since the start of the pandemic, today’s [...]
Exclusive: Uber’s UK boss ‘optimistic’ it will win back London licence July 16, 2020 Uber’s UK boss is “optimistic” that the firm will win back its licence in the capital when courts decide in September. Transport for London (TfL) banned the ride-hailing app in London at the end of last year. It said Uber had unlicensed operators upload photos on other people’s accounts, leading to at least 14,000 trips [...]
What are the long-term prospects for healthcare investing post Covid-19? July 16, 2020 The pandemic has shone a spotlight on healthcare but what happens when a vaccine is found? We asked Schroders’ investment experts for their views on the sector’s long-term prospects. The Covid-19 crisis has hurt most economic sectors this year. As of 30 June, healthcare was one of only three sectors to post positive year-to-date returns [...]
Biffa eyes ‘steady recovery’ as revenues start to come back July 16, 2020 Waste management firm Biffa said it was seeing a “steady recovery” in demand for its services, with revenues last month recovering to 83 per cent of pre-coronavirus levels. In a trading update, the FTSE 250 firm said that its business had performed “slightly” better than expected over the last three months. However, it warned that [...]
