Coronavirus: Top insurance firms could lose $100bn in brand value May 11, 2020 The world’s top 100 most valuable insurance brands could lose as much as $100bn (£81bn) in brand value as a result of the Covid-19 crisis, a new report has revealed. The insurance sector is set to be one of the most severely affected industries and faces a potential 20 per cent loss in brand value, [...]
Taxi drivers, bus drivers and security guards most at risk from Covid-19 May 11, 2020 Security guards, taxi drivers and bus drivers are the professions most at risk from dying from Covid-19, according to new figures from the Office of National Statistics (ONS). The new figures also revealed that health workers had no increased risk of dying from coronavirus, but that care workers and home carers had “significantly raised rates [...]
UK companies could be holding up to £105bn in unsustainable debt, warns industry body May 11, 2020 UK companies could be holding up to £105bn in unsustainable debt, according to new analysis from financial services industry body, TheCityUK. In a letter to the Bank of England (BoE) governor Andrew Bailey, TheCityUK said the impact of the coronavirus outbreak on business is “serious and profound”. TheCityUK has set up a recapitalisation group to [...]
British Airways to review July restart plans after quarantine plans revealed May 11, 2020 IAG’s chief executive Willie Walsh has said that British Airways is reviewing plans to resume 50 per cent of its flights in July due to the government’s new quarantine measures. Speaking to the Transport Select Committee this morning, Walsh said: “I don’t think anybody believed that the UK government was actually implemented if they were [...]
UK retailers warn government coronavirus aid not enough to prevent ‘imminent collapse’ May 11, 2020 UK retailers have warned that its financial aid package for businesses during the coronavirus crisis will not prevent the “imminent collapse” of many firms. In a letter to the chancellor Rishi Sunak and small business minister Paul Scully, the British Retail Consortium said the crisis “facing parts of the retail sector…must be addressed urgently ahead [...]
Bitcoin value crashes ahead of third halving May 11, 2020 After rallying to over $10,000 in the past few days, Bitcoin lost more than 10 per cent last night. It dropped to lows of $8,100 on Luxembourg-based Bitstamp exchange before settling at $8,600, ahead of its third halving today. The crypto community is readying for the highly-anticipated bitcoin supply squeeze. It will be the third [...]
French passengers not included in UK quarantine plans May 11, 2020 The UK’s new quarantine measures for incoming passengers will not apply to people coming from France, Downing Street has confirmed. Last night Prime Minister Boris Johnson announced that “it would soon be time” to introduce a quarantine period for all those entering the UK by air. However, after a phone call with French president Emmanuel [...]
Dignity first-quarter profit falls on low cost funeral services May 11, 2020 Dignity reported an 11 per cent fall in first-quarter operating profit as customers chose lower-cost funeral services amid the coronavirus pandemic. As part of lockdown measures, the goverment has provided guidance on how services should be conducted. This includes limiting the number of people present to immediate family members and close friends. Dignity also said [...]
Covid-19 has only increased the appetite to talk trade May 11, 2020 The announcement that UK-US free trade agreement discussions have officially begun will have been welcomed by many firms across the Square Mile last Tuesday. Incidentally, it also coincided with my first virtual ‘visit’ to the country to speak to US regulators alongside UK Finance. Accounting for nearly £22 billion, the US is by far the UK’s largest single export [...]
Connecting the dots in Europe reveals a continent in decline May 11, 2020 My colleagues at my political risk firm are forced to endure my earlier incarnation as a college professor, as I cannot help but try to instruct them. One of my favourite lectures concerns the absolutely necessary need for a world-class political risk analyst to connect the dots, to clearly link together geopolitical data points that [...]
