Pessimism & reluctance April 17, 2020 A moment of nostalgia for sterling and relief for the euro. Sterling was not unduly worried this week, having a surprisingly successful week. Over the eight-day week it strengthened by an average of 0.5%, losing out only to the puzzlingly mismatched Australian dollar and Japanese yen. It added one euro cent and one and one [...]
UK ‘too slow to act’ on coronavirus, and 40,000 Brits could die April 17, 2020 The UK government was “too slow” in dealing with the coronavirus outbreak and 40,000 people could die, a leading public health professor warned MPs today. “Where were the system errors that led us to have probably the highest death rates in Europe?” Anthony Costello, professor of International Child Health and director of the UCL Institute [...]
Coronavirus: When are supermarket opening times for NHS and pensioners? April 17, 2020 As the UK heads into lockdown because of the coronavirus outbreak, supermarkets have enforced tighter restrictions and changed opening hours. Prime Minister Boris Johnson yesterday ordered all “non-essential” shops to close, leaving supermarkets one of the few stores to remain open. In recent weeks supermarkets have struggled to keep shelves replenished as consumers embarked on [...]
Boeing shares jump after it says it will restart aircraft production April 17, 2020 Shares in Boeing climbed more than 10 per cent today after it said it would restart aircraft production next week after suspending operations last month in response to the spread of coronavirus. Boeing’s share price jumped 11.3 per cent to $149.50 during early trading in New York. The US aerospace giant said it would resume [...]
Andrew Bailey: Banks should ‘put their back into’ coronavirus lending April 17, 2020 Bank of England governor Andrew Bailey has sternly told banks to “put their back into” lending to struggling firms during the coronavirus outbreak. Lenders have come in for criticism that they are being too slow at handing out money through government-backed support schemes designed to stave off business collapses. Last week, City A.M. revealed that [...]
UK government extends coronavirus job retention scheme until end of June April 17, 2020 The Treasury has announced it will extend the UK’s coronavirus job retention scheme by one month until the end of June in a sign that an economic recovery may be some way off. Chancellor Rishi Sunak said it was “the right decision” after the government extended the coronavirus lockdown for another three weeks yesterday. The [...]
Uber abandons 2020 guidance amid Covid-19 lockdown April 17, 2020 Uber has withdrawn its 2020 financial guidance and plans to write down around $2bn in investments amid the Covid-19 lockdown. The ride-hailing firm had expected to book adjusted net revenue of up to $17bn and an adjusted loss of between $1.45bn and $1.25bn. But Uber yesterday said Covid-19 made it “impossible” to predict future financial [...]
Coronavirus: The Gym Group and Hollywood Bowl latest to tap investors for cash April 17, 2020 UK businesses are racing to raise equity and shore up their finances during the coronavirus crisis, with The Gym Group and Hollywood Bowl among the latest firms to tap investors for cash. According to research by Peel Hunt, there have been 32 equity raises of at least £5m in the UK since the middle of [...]
Exclusive: Lloyds staff facing redundancy fear being left jobless by bank amid pandemic April 17, 2020 Staff at Lloyds Banking Group who are being made redundant fear the bank will leave them jobless amid the savage economic downturn triggered by the coronavirus pandemic. The bank publicly committed last month to pause plans to cut 780 jobs amid surging customer demand and the economic uncertainty leavers would face. However, it has not [...]
UK coronavirus hospital deaths rise by 847 to 14,576 April 17, 2020 The UK’s coronavirus hospital death toll rose by 847 yesterday, meaning 14,576 people have now died in Britain’s hospitals from the virus. The number is slightly lower than the daily rise of 861 reported for the day ending Wednesday. The previous daily rise had been 761. Britain recorded its highest daily death toll on April [...]
