US unemployment surges as coronavirus lockdown takes toll April 3, 2020 US unemployment surged in March as coronavirus sent the economy into a tailspin, official data has shown. US employers laid off 701,000 workers in March after hiring 275,000 in February, the Labor Department (DoL) said. Analysts had been expected a fall of 100,000. The figures represent an abrupt end to the US labour market’s winning [...]
BAE predicts ‘significant disruptions’ from Covid-19 April 3, 2020 Defence firm BAE Systems today said it expects “significant disruptions” due to coronavirus as it moves into the second quarter of the financial year. It comes after an opening three months where the Covid-19 pandemic had a minimal impact on the London-listed company. The firm today said it was assessing the situation and would update [...]
Coronavirus: Boris Johnson to stay in self-isolation with high temperature April 3, 2020 Prime Minister Boris Johnson has said he will remain in self-isolation after continuing to exhibit coronavirus symptoms first diagnosed last week. “Although I feel better and I’ve done my seven days of self-isolation, alas I still have one of the symptoms, a minor symptom. I still have a temperature,” Johnson said in a Twitter video. [...]
Banks welcome Chancellor’s revamp of coronavirus loan scheme April 3, 2020 A revamp of the coronavirus loan scheme for businesses has been welcomed by banks after they faced criticism for delays. The government has pledged to guarantee £330bn of loans but only £14bn has been lent so far. The coronavirus business interruption loan scheme means businesses with a turnover of up to £45m can apply for [...]
COVID-19 has now triggered 215 profit warnings April 3, 2020 The headline number tells you that we’ve recorded 215 COVID-19 related profit warnings in 2020, as of 9am 2 April 2020. Of those 215 COVID-19 related warnings, almost 190 have come in the last three weeks. That’s significantly higher than any quarter we’ve recorded in the last 21 years. It’s almost as many as we’ve counted [...]
Coronavirus: The London coffee firms offering home delivery April 3, 2020 The coronavirus lockdown has thrown everything off – from the morning commute to the pint after work. Odds are, it’s also disrupted your coffee routine. London coffee expert Tim Ridley tells City AM that most takeaway places have shut down thanks to the Covid-19 pandemic, but plenty of the capital’s hotspots have pivoted to online [...]
Pound slides against the dollar amid coronavirus recession April 3, 2020 The pound has fallen against the dollar after dire economic data and as investors sell shares in favour of holding cash amid the coronavirus pandemic. Sterling was one per cent lower against the dollar this morning at $1.228. It was down 0.6 per cent against the euro at €1.136. Stock markets were lower across Europe [...]
Coronavirus: The tipping point for company communications? April 3, 2020 We are living through ‘unprecedented’ times. Everyone agrees that Covid-19 will change the world forever – and in myriad ways. ‘Unprecedented’ is used almost constantly. But can it be said that how companies communicate with their investors specifically, and the financial market in general, has changed in ‘unprecedented’ ways too? The answer, thus far, is [...]
UK to open two more Nightingale hospitals to deal with coronavirus cases April 3, 2020 The UK will open two more Nightingale hospitals to handle the rising number of coronavirus cases, as the first opened at London’s Excel Centre today. The new Nightingale hospitals in Bristol and Harrogate will provide 1,500 extra beds for patients afflicted by coronavirus. So far the outbreak has killed 2,921 people in the UK. The [...]
Nationwide U-turns on business banking debut over coronavirus April 3, 2020 Nationwide has abandoned plans to enter the business banking market, blaming coronavirus for making it commercially unviable. The building society will return a £50m grant from a pool of RBS cash to foster competititon among British banks as it scales back ambitions in the face of the outbreak. “The impact of Covid19, including assumption changes [...]
