Government to review 14-day quarantine plan every three weeks May 18, 2020 The government will review its 14-day quarantine measure for incoming travellers to the UK every three weeks, the prime minister’s spokesman has said. Speaking at a briefing for journalists, the spokesman said: “Any changes brought in will be subject to a rolling review every three weeks to ensure they are in line with the latest [...]
Covid-19 will boost London’s status as leading tech hub, says industry chief May 18, 2020 The coronavirus crisis will bolster London’s position as a leading global tech hub as society becomes increasingly reliant on the digital economy, a top industry boss has said. Russ Shaw, founder of London Tech Advocates, told City A.M. that the Covid-19 pandemic will “catapult London forward” and help cement the UK’s status as a “tech [...]
Landmark post-Brexit immigration bill returns to parliament May 18, 2020 The government’s landmark post-Brexit immigration bill will return to parliament today for its second reading before MPs. Under the new legislation, freedom of movement for EU citizens will cease, and will be replaced by a so-called points-based immigration system. Home secretary Priti Patel said that the bill would “give the UK full control of our [...]
Retail landlord Intu seeks debt standstill as rent payments fall in lockdown May 18, 2020 Embattled retail landlord Intu said this morning that it is seeking debt standstills from its lenders as it warned it expects to breach covenants next month due to a slump in tenant rent payments. Intu, which owns Manchester’s Trafford Centre, said the impact of unpaid rent and plummeting property valuations was likely to result in [...]
German economy set for ‘severe contraction’ in second quarter May 18, 2020 The German economy is set for a severe contraction in the second quarter of the year, a new report from the state Bundesbank has said. Despite a gradual easing of the most crippling restrictions on everyday life, economists expect the country’s recovery to be halting and timid. Across Europe as a whole, countries are expected [...]
UK households gloomy about finances as coronavirus crisis hits home May 18, 2020 UK households were slightly more positive about their finances in May than in April, but the month still ranked as one of the most pessimistic since 2009. IHS Markit’s UK household finance index (HFI) – which measures households’ overall perceptions of financial wellbeing – recorded 37.8 in May, up slightly from April’s eight-and-a-half year low [...]
Oil prices surge past $30 for first time in two months May 18, 2020 Global oil prices jumped this morning on growing optimism as governments around the world continued to ease lockdown measures. Worldwide standard Brent crude rose 5.2 per cent to hit $34.20, its highest levels in a month. US benchmark West Texas Intermediate also surged 6.9 per cent to $31.47, levels which it has not seen since [...]
Loss of smell officially added to UK’s list of coronavirus symptoms May 18, 2020 Loss of smell has been added to the UK’s official list of coronavirus symptoms by the government, with anyone experiencing this symptom now required to self-isolate. The government will advise today that anyone who experiences the symptom, which has the technical name of anosmia, will need to stay home for seven days, while people in [...]
Aldi launches grocery delivery trial with Deliveroo May 18, 2020 Budget supermarket Aldi has announced that it will launch its first grocery delivery service today in partnership with Deliveroo. The retailer will trial a rapid delivery service from a store in Nottingham before extending the service to a further seven East Midlands stores next month. The German grocer said it could roll the service out [...]
Coronavirus will slow pace of globalisation, warn financial leaders May 18, 2020 Financial leaders are concerned the outbreak of coronavirus is having a slowing effect on globalisation, as the prospect of a global recession looms. Three quarters of senior leaders based in Luxembourg’s financial centre do not expect economic conditions to normalise to pre-crisis levels for at least a year. Additionally, 82 per cent of respondents to [...]
