FTSE 100 Live: Stocks to tumble as interest rate decision looms; Oil falls as ‘economic catastrophe’ avoided
Sir Patrick McLoughlin appointed as Visit Britain chairman May 26, 2020 Former Conservative Party chairman and transport secretary Sir Patrick McLoughlin has been appointed as chair of the British Tourist Authority. McLoughlin, who was MP from Derbyshire Dales between 1986 and 2019, will chair the Visit Britain tourism board for three years from 1 June, it was announced this morning. He was government chief whip from [...]
UK SMEs see light at the end of the tunnel despite short-term gloom May 26, 2020 The UK’s SMEs are set to see their revenue fall a combined 28 per cent in the second quarter of the year due to the coronavirus pandemic, with almost three-quarters of businesses expecting the disease to have a significant impact for the next three months. According to new data from Barclaycard’s quarterly SME barometer, sentiment [...]
O2 Arena stood down as NHS Nightingale training facility May 26, 2020 The O2 Arena has been officially stood down more than 40 days after it was transformed into a training ground for frontline NHS workers fighting the coronavirus outbreak. Owner AEG last month handed over the iconic London venue to serve as an educational training hub for staff required at the new NHS Nightingale hospital at [...]
McLaren to cut 1,200 jobs as coronavirus forces group restructuring May 26, 2020 Supercar giant McLaren today announced it would cut 1,200 jobs across all of its operations due to the combination of the coronavirus pandemic and the new F1 price cap. The redundancies, which were first reported by Sky, will account for about a quarter of the Surrey-based firm’s workforce of 4,000. Jobs will be cut across [...]
CBILs failings are leading us to catastrophe May 26, 2020 Ranald Macdonald is a restaurateur and Managing Director of Boisdale Group The UK is sleepwalking into a financial disaster of biblical proportions that will exacerbate the economic effects of Covid many times over. Other leading nations, like Germany, the US and France, will avoid this calamity as they have been far more successful in ensuring [...]
Retail footfall soars over bank holiday weekend May 26, 2020 Retail footfall soared over the weekend compared to the Easter bank holiday as shoppers made the most of the relaxation of lockdown restrictions in England. High street footfall surged 49 per cent yesterday compared to Easter Monday, while coastal towns saw visitor numbers jump 62 per cent. Footfall at retail parks was up 42 per [...]
EU ‘willing to ease’ fishing demands in Brexit talks May 26, 2020 The EU is said to be willing to ease its stance on fisheries in talks with the UK next week in what would mark a significant breakthrough in post-Brexit trade negotiations. Fishing has proved a major stumbling block in Brexit talks, with the UK pushing back against Brussels’ demands for access to British waters to [...]
BoE not remotely close to decision on negative rates, says chief economist May 26, 2020 The Bank of England’s chief economist has said the bank is not remotely close to any decision on taking interest rates below zero to cope with the pandemic. Andy Haldane said the key factors for the BoE to consider were the consequences of negative rates for banks and lenders, which would squeeze margins. “Those are [...]
Inflation post Covid-19: to be or not to be? May 26, 2020 We spoke to two experts who argued the case for and against inflation in the near future and what it means for investments. Abdallah Guezour, Head of Emerging Market Debt and Commodities, and Keith Wade, Chief Economist, discuss the outlook for inflation in the midst of the Covid-19 crisis. Abdallah argues the case for inflation [...]
FRC probes KPMG and PwC’s Eddie Stobart audits May 26, 2020 The accounting watchdog has opened investigations into audits by KPMG and PwC of haulage firm Eddie Stobart Logistics. In August, Eddie Stobart sacked its chief executive and suspended trading in its shares after an accounting investigation found its 2018 profits had been overstated by £2m. A review of the company’s accounts, undertaken by finance chief [...]
