UK inflation: What are people buying during coronavirus lockdown? May 20, 2020 There was further confirmation of the economic impact of the Covid-19 crisis this morning when new figures revealed a slump in inflation. The UK inflation rate tumbled to just 0.8 per cent in April, down from 1.5 per cent the previous month and marking the lowest level since August 2016, according to the Office for [...]
Met Office confirms hottest day of the year as mercury pushes 28 degrees May 20, 2020 The Met Office has confirmed that it is the hottest day of the year so far, with temperatures reaching 27.8 degrees at Heathrow Airport. The record comes after a string of days of hot, sunny weather, with the mercury reaching 26 degrees in London yesterday. However, the coming days will likely see cooler temperatures, with [...]
Chair of audit watchdog the FRC Simon Dingemans resigns after less than nine months May 20, 2020 Former Glaxosmithkline finance boss Simon Dingemans has stepped down as chair of audit watchdog the Financial Reporting Council (FRC) less than nine months after taking the role. Dingemans was appointed last July to chair the FRC and oversee its transformation to the Audit, Reporting and Governance Authority (ARGA) after the FRC was heavily criticised for [...]
A second tragedy: Greek economy could shrink by 13 per cent this year May 20, 2020 The Greek economy could shrink by 13 per cent this year, the country’s finance minister has said, in an economic disaster that comes despite Greece keeping coronavirus infections under control. Finance Minister Christos Staikouras said the economy could shrink by between 10 and 13 per cent. But he said the conservative government will do all [...]
London landlord Great Portland Estates pulls rental value guidance due to coronavirus May 20, 2020 London landlord Great Portland Estates pulled its guidance on rental values for the year, but warned that the coronavirus crisis would continue to have a negative impact on property in the capital. The property firm’s portfolio value dropped 0.3 per cent in the year ended 31 March as retail property values fell 3.5 per cent. [...]
A third of North Sea oil could remain untouched due to price collapse May 20, 2020 More than a third of the remaining oil in the North Sea basin may never be extracted if prices do not improve, a new study has warned. Economists at Aberdeen University have modelled the impact of $25, $35 and $45 per barrel prices on the industry, At the lowest figure, the research finds, up to [...]
TUC calls for shake-up of UK economy during Covid-19 recovery May 20, 2020 The Trades Union Congress (TUC) has urged the government to roll out a raft of radical economic reforms to tackle the “despair of mass unemployment” and aid the UK’s coronavirus recovery. In a report published today the TUC, which represents most UK unions, called for the creation of a national recovery council to oversee an [...]
Johnson & Johnson stops selling Baby Powder talc in US amid cancer claims May 20, 2020 Johnson & Johnson last night said it would stop selling its talc Baby Powder in the US and Canada, saying demand had dropped in the wake of what it called “misinformation” about the product’s safety amid a barrage of legal challenges. Johnson & Johnson faces more than 19,000 lawsuits from consumers and their survivors claiming [...]
David Attenborough documentary spurred on appetite for ESG investment May 20, 2020 British investors have opted for ESG funds over the last three years more than any other category of investment fund, according to Calastone’s latest figures. The appetite for a more sustainable and ethical approach to investing came in the autumn of 2017, which coincided with the release of David Attenborough’s Blue Planet 2 documentary. Little [...]
Public trust in airlines and travel firms at record low, says Which? May 20, 2020 Public trust in the UK’s airlines and travel companies has dropped to a record low as passengers struggle to get refunds due to the coronavirus pandemic, new research from Which? has found. According to a survey of 2,000 people, just 22 per cent of the public trust travel firms and airlines at the moment, with [...]
