Manchester United revenue drops almost £30m due to Covid-19 May 21, 2020 Manchester United today said its revenue fell by almost £30m in the third quarter after the football season was brought to a halt due to the Covid-19 pandemic. The New York-listed football club reported total revenue of £123.7m in the three months to the end of March, down from £152.1m in the same period last [...]
Economists rule out ‘V-shaped’ recovery after weak survey data May 21, 2020 Survey data today showed that the UK economy remained mired in a deep downturn in May despite an improvement from a dire April. Many economists have said that any hopes of a swift ‘V-shaped’ recovery from the coronavirus crash have all but faded. At the beginning of the crisis, policymakers and analysts hoped that once [...]
Boris Johnson U-turns on NHS surcharge for migrant care and health workers May 21, 2020 Boris Johnson has told the health and home departments to remove the NHS immigrant surcharge for NHS and care workers, after defending the policy just 24 hours ago in parliament. The charge, which is £400 per year for adult migrants from non-European Economic Area countries, has been criticised for applying to frontline workers who have [...]
Newspaper circulation figures to be kept private as sales crash due to Covid-19 May 21, 2020 UK publishers will no longer have to make their circulation figures public as the Covid-19 crisis continues to decimate newspaper sales and distribution. The Audit Bureau of Circulation (ABC), which publishes the official data, today said it will no longer publish its public monthly report, though the figures will still be available to advertisers. The [...]
City calls for financial services not to be overlooked in Brexit trade deal May 21, 2020 City figures have this week called for the UK and EU not to overlook financial services in the final Brexit trade agreement. The UK published its draft Brexit trade agreement this week which called for the UK and EU for treatment “no less favourable than that it accords to its own like financial services and [...]
Oil prices hit highest levels since March as demand recovers May 21, 2020 Global oil prices today rose to their highest levels since early March as the market grew more stable due to global production cuts. Worldwide benchmark Brent crude rose 2.5 per cent to reach $36.64, while US standard West Texas Intermediate hit $34.30. Both measures were trading at their highest points since 11 March, before a [...]
More than three quarters of RBS staff set to work from home until at least September May 21, 2020 More than 50,000 of RBS’ staff will continue to work from home until at least the end of September. The decision to keep more than three quarters of the bank’s workforce at home for the next four months was revealed in an internal memo, first reported by the Guardian. It will then be reviewed again [...]
China poised to tighten grip on Hong Kong with new national security laws May 21, 2020 China is reportedly set to propose draconian new national security laws for Hong Kong in a move that would tighten Beijing’s grip on the region. The laws would ban secession, foreign interference, terrorism and all seditious activities aimed at toppling the central government, the South China Morning Post reported. The legislation, which could be introduced [...]
Markets live: FTSE 100 goes green as US stocks shrug off China tensions May 21, 2020 The FTSE 100 turned from red to green as US markets opened higher today, despite the looming threat of escalating US-China tensions. Britain’s main stock index had fallen 0.78 per cent by 10.30am to 6,017 points. By 2.50pm it had risen 0.2 per cent to 6,078 points, however, as US markets shrugged off more jobless [...]
Lloyds boss says bank can absorb coronavirus loan defaults May 21, 2020 The chief executive of Lloyds Banking Group today said the bank would be able to soak up a jump in loan defaults triggered by the coronavirus pandemic. Antonio Horta-Osorio told the bank’s annual meeting today that supporting customers hit hard by the pandemic was the “right thing to do”, but would have a financial impact [...]
