Next suspends online shopping amid UK coronavirus outbreak March 27, 2020 Next has suspended all online operations in order to protect staff amid the UK coronavirus outbreak. The high street retailer said it has made the “difficult decision” to keep warehouse and distribution staff safe as the number of UK coronavirus cases continues to rise. The company said in a statement last night: Next has listened [...]
Royal Mail expects UK parcels business to make a loss as uncertainty deepens March 27, 2020 Royal Mail has warned of “significant uncertainty” during the coronavirus outbreak, as it predicts its UK parcels business will make a loss next year. The postal service warned of the “potential for sharp and sustained economic downturns” for the next financial year. Royal Mail has predicted its UK parcels, international and letters (UKPIL) business will [...]
Menzies puts majority of 17,500 staff on wage bailout scheme March 27, 2020 John Menzies has been forced to reduce its global workforce by 17,500 jobs as it tries to stay afloat amid the fallout caused by the coronavirus outbreak. In a trading update released this morning, the aviation services firm said it had seen “significant ongoing reductions in activity for our core operations”. It said that the [...]
UK coronavirus: Government warns Brits not to move house March 27, 2020 The government has told people not to move house amid the UK coronavirus crisis as the housing market enters a standstill. Last night the government said: “We urge parties involved in home moving to adapt and be flexible to alter their usual processes. “There is no need to pull out of transactions, but we all [...]
Coronavirus: Mike Ashley ‘deeply apologetic’ for series of mistakes March 27, 2020 Frasers Group boss Mike Ashley has said he is “deeply apologetic” for a series of blunders in the company’s handling of the coronavirus outbreak. The Sports Direct owner wrote an open letter in which he apologised for his own personal actions and those of the Frasers Group business. Earlier this week, the group had pledged [...]
Number of coronavirus cases in US overtake Italy and China March 27, 2020 The US has become the global epicentre of the coronavirus outbreak, as the number of confirmed cases surpassed China and Italy. The US has more than 86,000 positive tests, surpassing China’s 81,782 cases and Italy, the epicentre of the outbreak in Europe, which has confirmed 80,589 cases. However, the death toll in the US, which [...]
Asian stocks climb after Wall Street’s record rise on $2 trillion US stimulus March 27, 2020 Asian stocks climbed again today as traders bet on even more economic stimulus to tackle the fallout from the coronavirus outbreak. Japan’s Nikkei index surged 3.9 per cent overnight while Hong Kong’s Hang Seng index also climbed 0.6 per cent. MSCI’s broadest range of Asia-Pacific shares outside Japan gained 3.3 per cent. Asian stocks posted [...]
Rishi Sunak unveils self-employed economic relief package March 27, 2020 The government has upped its response to the coronavirus crisis by vowing to pay low and middle income self-employed workers 80 per cent of their average monthly profits in a package expected to cost the Treasury £9bn. Chancellor Rishi Sunak announced the much anticipated relief package yesterday, giving self-employed workers the same support announced for furloughed payrolled workers last week. Sunak [...]
The capital is key to rebuilding the economy March 27, 2020 Nothing since the three-day week has so disrupted British daily life as the Covid-19 pandemic, and it is hard, sometimes, to imagine a world after it. Even the optimistic projections have us stuck at home — or worse, in hospital — for weeks if not months on end. But right on cue the Global Financial [...]
Debate: The government has suspended gender pay gap reporting this year — but should it be scrapped? March 27, 2020 Businesses have been told they do not have to report on their gender pay gaps due to the coronavirus outbreak. With 12 months until they have to report again, City A.M. asks whether it should be scrapped altogether. Yes, says Annabel Denham, director of communications at the Institute of Economic Affairs The decision to suspend [...]
