UK government kick starts £2bn transport spending spree May 14, 2020 The government has begun a £2bn spending spree on the UK’s transport infrastructure, according to transport secretary Grant Shapps. Shapps said at today’s press briefing that the government had begun a slew of road and rail projects, which were first announced in the Conservatives’ 2019 election manifesto. Shapps said the government was in the process [...]
FTSE 100 tumbles as investors doubt coronavirus recovery May 14, 2020 The FTSE 100 has fallen dramatically and US stocks have turned lower as doubts about the economic recovery set in following a gloomy speech by the governor of the US Federal Reserve. Britain’s FTSE 100 index dropped 2.8 per cent to finish at 5,741 points. That wiped out all of May’s gains. The mid-cap FTSE [...]
Bank of England ‘not contemplating’ negative interest rates, says governor Andrew Bailey May 14, 2020 Bank of England governor Andrew Bailey has said Threadneedle Street is not considering cutting interest rates to below zero. The governor said that it would be unwise to rule anything out, “particularly in these circumstances,” in an online question and answer session with the Financial Times. Yet he said: “It is not something we are [...]
Trump says Chinese companies could be forced to follow US accounting standards May 14, 2020 The US government is thinking about imposing stricter requirements on Chinese companies listing on the US stock exchange as President Donald Trump ramps up the pressure on China amid the coronavirus pandemic. Chinese companies do not have to follow US accounting standards, which has led to incidences of fraud and caused investor losses. Trump told [...]
UK criticises EU for ‘lack of movement’ on key issues in Brexit trade talks May 14, 2020 The UK government has again slammed Brussels negotiators for their failure to compromise on key issues, signalling little progress in the post-Brexit trade negotiations as the third round of talks near a close. The UK’s chief Brexit negotiator David Frost attended cabinet today, telling members that the EU has not budged on some of the [...]
Ei Group reveals multi-million pound tenant support package amid mounting pressure May 14, 2020 Ei Group has granted a rent holiday for some of its bigger pubs amid mounting pressure for pub companies to announce more support for tenants. A cross-party group of 60 MPs wrote to Ei Group last week urging it to cancel rents for tenants during the coronavirus crisis. The letter said it was “unfair” for [...]
Exclusive: Brits think lockdown measures will hinder economic recovery May 14, 2020 Britons think the UK economy will be unable to recover quickly if the coronavirus lockdown measures continue, according to an exclusive poll for City A.M. The poll, conducted by Redfield and Wilton Strategies, found that 56 per cent of Britons believe that if the lockdown measures continue, the UK economy will reach a point at [...]
Coronavirus: What is the antibody test and how does it work? May 14, 2020 The prime minister’s official spokesperson today hailed an “important breakthrough” after the UK approved a Covid-19 antibody test. The test has been tipped as a potential tool for helping the UK to ease the coronavirus lockdown. But what is an antibody test, how does it work and why do we need one? What is an [...]
Tesco bosses receive bonus boost after Ocado removed from competitor list May 14, 2020 Tesco bosses received a bonus boost last year after the grocer removed online supermarket Ocado from a list of competitors. Tesco chief executive Dave Lewis would have missed out on around £1.6m in shares if the online rival had remained on the list used to compare Tesco’s performance against its competitors. Before Ocado was removed, [...]
UK coronavirus deaths rise by 428 to 33,614 May 14, 2020 The number of coronavirus deaths in the UK has risen by 428 to 33,614 people, according to the Department of Health. The latest death toll counts those who tested positive for coronavirus and died by 5pm on 13 May. The health department said there have been 2,219,281 coronavirus tests as of 9am today, with 126,064 [...]
