Jay Powell: US economy could shrink 30 per cent over coronavirus May 18, 2020 Federal Reserve chairman Jay Powell has warned the US economy could “easily” decline by 20 to 30 per cent over the coronavirus pandemic. The US central bank boss also warned the economic downturn could continue until late 2021, and there may be no recovery until scientists create a vaccine. Powell called on the Trump administration [...]
What we know about the new Cold War May 18, 2020 The American astronomer, Carl Sagan, put it well: ‘Where we have strong emotions, we’re liable to fool ourselves.’ To deal with this very debilitating—if very human—impediment, before making any definitive political risk statements, I try to blow the emotional cobwebs away by playing an invaluable game called ‘What We Know.’ ‘What We Know’ is an [...]
Kindness at the heart of City’s mental health efforts May 18, 2020 Even amid the anxiety and sad stories that have engulfed many of our daily lives, rays of light – acts of kindness that have made the news and that we have ourselves experienced first-hand – have still managed to cut through. It’s no surprise that the links between kindness and mental wellbeing are well-established in [...]
Outdoor ad agencies launch #SendingLove campaign May 18, 2020 London ad firm Talon Outdoor, alongside The World Out of Home Organisation, has today launched what is believed to be the largest user-generated content campaign ever to run on digital outdoor advertising. The campaign, #SendingLove, asks the public to send in images of “love and unity” to be displayed across the world. Advertising space has [...]
The City View: Darwinism and disruption in the tech sector, with Russ Shaw of Tech London Advocates May 18, 2020 In this episode Christian is joined by Russ Shaw, founder of Tech London Advocates and one of the most well-connected and influential people in the UK’s tech sector. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Russ offers a candid analysis of the state of the sector and explains why not all start-ups will survive the pandemic, and why not [...]
Global dividends set to plunge as much as 35 per cent this year May 18, 2020 Global dividends could fall as much as 35 per cent this year, as companies scramble to conserve cash amid the pandemic. The coronavirus pandemic and the hit to oil prices has had a profound impact on the cash position of a lot of companies. Businesses in the worst hit areas – such as hospitality, aviation [...]
Shoppers begin ‘cautious’ return to stores as lockdown measures eased May 18, 2020 Footfall at the UK’s retail destinations increased by a modest 3.3 per cent in the first week since lockdown measures were lifted, as Brits began taking tentative steps out of their homes. According to retail intelligence analysts Springboard, last week’s increase was the fourth in six weeks, although it was considerably smaller than that recorded [...]
Job market set for ‘significant’ downturn despite furlough scheme May 18, 2020 The UK job market is set for a “significant turn for the worse” over the next three months, a new report from the Chartered Institute of Professional Development (CIPD) has found. According to the research, more than half of private sector firms are preparing to freeze pay for the next 12 months, while hiring intentions [...]
Coronavirus: UK death toll rises by 170, the smallest increase since day after lockdown May 17, 2020 The number of people who have died in the UK from coronavirus rose by 170 to 34,636, business secretary Alok Sharma has announced. The rise is the lowest daily increase since 24 March, the day after lockdown measures were implemented. It also represents a sharp drop from the previous 24 hours, in which 468 more [...]
Sir James Dyson tops rich list as coronavirus hits mega-wealthy May 17, 2020 Entrepreneur Sir James Dyson has climbed to the top of the Sunday Times’ annual rich list, which saw the combined wealth of its 1,000 constituents fall due to the coronavirus pandemic. Dyson, who takes the top spot for the first time, saw his net worth increase by £3.6bn in the last year, despite a £500m [...]
