DEBATE: Is there any point in members of the wealthy elite calling for higher taxes in response to Covid-19? July 14, 2020 In light of this week’s Millionaires for Humanity letter, is there any point in members of the wealthy elite calling for higher taxes in response to Covid-19? Gary Stevenson, inequality economist and trader, says YES. On Monday, 83 millionaires — myself included — signed an open letter calling on governments to raise taxes on people [...]
UK economy grows by much less than expected after April crash July 14, 2020 The UK economy grew at a much slower rate than expected in May after April’s historic crash, official figures have shown, in a sign that the recovery could be weaker than anticipated. UK GDP expanded by 1.8 per cent in May, the Office for National Statistics (ONS) said, after shrinking by an enormous 20.3 per [...]
Lidl to open 25 new stores in the UK this year creating 1,000 jobs July 14, 2020 Lidl has said it plans to open a new store every week until Christmas, seeing 25 new branches and 1,000 more jobs. The budget supermarket also plans to invest £1.3bn in the UK for 2021 and 2022, which will see the creation of 100 new stores and around 4,000 new jobs. Lidl aims to have [...]
OBR: Public borrowing set to top £370bn amid worst crash in 300 years July 14, 2020 Government borrowing could skyrocket to a peacetime high of over £370bn this year as the UK economy suffers its worst economic crash in 300 years, the UK’s budget watchdog has said. The Office for Budget Responsibility (OBR) presented three scenarios, each of which said the UK economy would shrink more than 10 per cent in 2020. [...]
British Airways to sell art collection amid coronavirus cash squeeze July 14, 2020 Struggling British Airways (BA) is flogging 17 pieces from its art collection at auction house Sotheby’s, as the cash-strapped carrier continues to battle the coronavirus pandemic. In total, the combined pieces could be worth up to £1.4m, according to estimates, with the most expensive, Bridget Riley’s Cool Edge, slated to sell for £1.2m. The sale, [...]
Give me Liberty or Give me TikTok July 14, 2020 Bytedance’s superstar mobile app, TikTok has risen to hero status becoming the go-to source of entertainment during lockdown. Viral dance challenges, comedic skits and short snippets of video content have grabbed the attention of over 1 billion monthly users. In a time where uncertainty and boredom reigns, a bit of creative romance is received with [...]
Marvin Liao talks to BEQUANT July 14, 2020 Marvin Liao is an angel investor, advisor to several Family offices, ex-VC and ex-Tech & Media Executive. Marvin took a few minutes to talk to the team at BEQUANT about his views on COVID, crypto and the future of blockchain. 1. What in your view will happen to crypto post COVID? I think the growth of [...]
China threatens to sanction Lockheed Martin over Taiwan arms sales July 14, 2020 Lockheed Martin looks set to be slapped with sanctions by China for its role in providing arms to Taiwan, in a move likely to further damage the US’ relationship with the east Asian giant. Last week the US government approved a $620m upgrade package for a surface-to-air missile system, in which Lockheed is the main [...]
UK has now approved £46.7bn of coronavirus business loans July 14, 2020 British businesses have now accessed £46.7bn of loans through the government’s package of emergency coronavirus support schemes. New figures released today showed that £31.70bn of bounce back loans -lending of up to £50,000 which the government 100 per cent underwrites – have now been approved for 1.05m businesses. A further £11.85bn to 54,538 businesses has [...]
Former BP boss Lord Browne to step down as Huawei UK chair July 14, 2020 Lord John Browne has resigned as UK chairman of Huawei, ahead of an expected ban on the telecoms provider to be announced later today. He will step down from the board in September, ending his tenure seven months early. Culture secretary Oliver Dowden is expected to tell MPs this afternoon that the government will ban [...]
