Time to empower the doers in society May 22, 2020 A hands-on state has served society well during recent weeks. A selectively hands-off state is now needed for the economy to bounce back. Except during war it is hard to think of any other circumstance when decisive government intervention is more needed than during a deadly pandemic. However, the Coronavirus story is not only a [...]
Consumer confidence ‘battered and bruised’ by coronavirus crisis May 22, 2020 Consumer confidence has been “battered and bruised” by the coronavirus crisis, new research has found as optimism remained low despite the easing of lockdown restrictions. The latest data showed that confidence was at minus 34 as consumers were concerned about the economic impact of the pandemic, with unemployment claims rising amid warnings of a recession. [...]
Government ‘confident’ of NHS contact-tracing app launch despite delays May 21, 2020 Health secretary Matt Hancock today said he was confident the NHS contact-tracing app would be launched by 1 June despite technical issues that have already caused delays. Hancock said the app, which uses Bluetooth to track and trace coronavirus infections, would be in place to allow an easing of lockdown measures without risking a second [...]
Coronavirus: CMA investigating holiday firms over refund claims May 21, 2020 The UK’s competition watchdog is investigating package holiday firm’s over their failure to refund customers for cancelled holidays. According to its latest statistics, the Competition and Markets Authority (CMA) has received over 60,000 complaints from customers regarding the coronavirus crisis since 10 March. Of these, it said that 27,000 related to complaints about “unfair practices” [...]
Half of Facebook employees could work remotely by 2030, says Zuckerberg May 21, 2020 Half of Facebook’s workforce could be working remotely in the next five to 10 years, chief executive Mark Zuckerberg has said. The social media boss today said his company would embrace a more permanent work from home policy even after the coronavirus crisis ends. In an internal townhall live streamed on Facebook, Zuckerberg said the [...]
Trump’s economic adviser insists China deal ‘intact’ as tensions rise May 21, 2020 White House economic adviser Larry Kudlow has sought to soothe inflamed tensions between the US and China after Donald Trump increased his criticism of the Beijing regime last night. Speaking to the Washington Post, Kudlow insisted that the landmark trade deal between the two countries remained “intact” despite the recent flare-ups. The Chinese government has [...]
Lloyds hit by investor backlash over executive pay package May 21, 2020 Lloyds was left reeling from a shareholder revolt today after more than a third of investors voted against the bank’s pay policy for top executives. The investor backlash came after influential proxy adviser group ISS recommended voting against the changes to the policy amid concerns it will all but guarantee long-term bonuses. While the rebellion [...]
Facebook Workplace takes on Zoom with video call rival during lockdown May 21, 2020 Caught out by the sudden success of Zoom as the world entered coronavirus lockdown, Facebook has introduced its own video conferencing tool on Workplace. The social network’s B2B business has seen its own jump in user numbers this year, as paid customers rose from 3m six months ago to 5m in March. By then coronavirus [...]
UK to get 10m coronavirus antibody tests in ‘coming months’ May 21, 2020 The government has ordered 10m coronavirus antibody tests as new figures show 17 per cent of Londoners have already caught Covid-19. The tests, from pharmaceutical companies Roche and Abbott’s, will first be administered to staff, residents and patients in healthcare or care home settings and will be available in the “coming months”. Announcing the order, [...]
On the Beach to place 20 per cent of share capital in Covid-19 fundraise May 21, 2020 Travel company On the Beach has announced it will place new shares worth up to 20 per cent of its existing share capital to raise additional funding through the coronavirus crisis. The step is the latest that the firm has taken in order to shore up its finances in the face of the crisis, which [...]
