Coronavirus crisis set to wipe $17bn off sports sponsorship market May 18, 2020 Global sports sponsorship revenue will fall by $17.2bn (£14.1bn) this year as a result of the coronavirus pandemic, new forecasts have revealed. Total spend is expected to reach just $28.9bn in 2020 — a 37 per cent fall year on year — as scores of live sporting events have been scrapped and businesses look to [...]
Uber to cut nearly 7,000 employees as firm seeks to consolidate core activities May 18, 2020 Ride-hailing firm Uber will cut nearly 7,000 employees, its chief executive Dara Khosrowshahi said in an email to employees, in a bid to remain profitable during the coronavirus crisis. In total, Uber will cut 6,700 staff – 23 per cent of its workforce – up from the 3,700 redundancies announced earlier this month. The firm [...]
Coronavirus: 6,000 jobs at risk as Cafe Rouge and Bella Italia owner faces collapse May 18, 2020 The owner of restaurant chains including Cafe Rouge and Bella Italia has filed notice of intent to appoint administrators, putting 6,000 jobs at risk. Casual Dining Group, which also runs the Las Iguanas chain, said the move will give it 10 working days’ respite as it weighs up potential restructuring options. Earlier today the company [...]
Government considering ‘air bridges’ to countries with similar Covid-19 infection rate May 18, 2020 Transport secretary Grant Shapps has confirmed that the government is considering “air bridges” between the UK and other countries with a low coronavirus infection rate, potentially cutting out the need to quarantine all arrivals. Last weekend Prime Minister Boris Johnson announced that all incoming travellers to the UK would have to be quarantined for 14 [...]
Oil prices soar as world begins to emerge from lockdown May 18, 2020 Oil prices continued their upwards trajectory this afternoon, dispelling fears of a repeat of last month’s price implosion as the countries around the world continued to move out of lockdown restrictions. Worldwide standard Brent crude broke through the $35 mark, rising nine per cent to stand at its highest levels since March. West Texas Intermediate, [...]
Huawei says ‘pernicious’ new US sanctions puts its survival at stake May 18, 2020 Huawei has slammed “pernicious” new sanctions rolled out by the US last week, warning they could put the Chinese tech giant’s survival at stake. “We expect that our business will inevitably be affected. We will try all we can to seek a solution,” Huawei’s rotating chairman Guo Ping said in a speech this morning. “Survival [...]
UK coronavirus death toll up 160 to 34,796 May 18, 2020 A further 160 people in the UK died from coronavirus yesterday, bringing the total to 34,796. Yesterday’s amount of deaths was one of the lowest one-day total since the coronavirus lockdown began in March, however numbers on the weekend tend to be lower than on weekdays. The UK’s official Covid-19 death toll is the highest [...]
UK pubs call for social distancing to be reduced to one metre May 18, 2020 The UK pub industry has called on the government to allow venues to reopen with one metre social distancing measures in place, rather than the two metres currently required. The government said that some hospitality venues, including pubs, could reopen from 4 July at the earliest, with social distancing measures. The current government advice is [...]
FTSE 100 breaks 6,000 barrier as vaccine hopes and Fed pledge boost markets May 18, 2020 The FTSE 100 broke through the 6,000-point milestone in a positive start to the week’s trading today, buoyed by hopes of a vaccine and more Federal Reserve stimulus. Easing lockdowns and lower infection rates in Europe infection hotspots Italy, the UK and Spain also boosted London’s blue-chip index. The FTSE 100 closed 4.5 per cent [...]
Just Eat slams watchdog’s approval of Amazon’s £442m investment in Deliveroo May 18, 2020 Just Eat has slammed the competition watchdog’s “U-turn” decision to give the go-ahead to Amazon’s £442m investment in Deliveroo during the coronavirus crisis. The delivery platform, which was bought by Dutch firm Takeaway.com earlier this year, said it was “concerned by the very sudden U-turn in the Competition and Market Authority’s decision making”. The CMA [...]
