BT gives staff pay rise as chief executive donates salary April 6, 2020 BT has handed out a share bonus to all staff and pledged not to cut jobs during the coronavirus crisis as the telecoms giant faces a surge in demand for its services. Each of BT’s 100,000 employees will be awarded £500 in shares in June, while thousands of non-managerial staff will be given a 1.5 [...]
Freshfields suspends partner profit distribution and freezes pay April 6, 2020 Magic Circle law firm Freshfields Bruckhaus Deringer has suspended partner profit share for the fourth quarter and frozen pay across the firm to help weather the economic crisis triggered by coronavirus. The firm has also deferred decisions on staff bonuses until later in the year. A Freshfields spokesperson said: “We are focused on supporting our [...]
Easyjet founder warns airline could run out of money by August April 6, 2020 Easyjet’s founder and largest shareholder, Sir Stelios Haji-Ioannou, has warned that unless a £4.5bn order for new Airbus planes is scrapped the carrier will run out of money by August. The Greek businessman is also seeking the removal of Easyjet chief financial officer Andrew Findlay. Haji-Ioannou said sacking Findlay “is the only way of preventing [...]
Pressure builds on social media firms to stamp out ‘crazed’ 5G conspiracy theories April 6, 2020 Social media firms are under fierce pressure to stamp out misinformation about 5G amid fears the spread of conspiracy theories is putting lives at risk. Phone masts have been set alight in locations across the UK due to posts circulating online falsely claiming that there is a link between mobile phone technology and the coronavirus [...]
Boris Johnson still ‘in charge of government’ from his hospital bed April 6, 2020 Boris Johnson is still in charge of government from his hospital bed and is continuing to receive his daily red box of briefing papers. The Prime Minister was admitted to St Thomas’ Hospital in Westminster last night due to “persistent symptoms” of coronavirus and “had a comfortable night”, according to an official Number 10 spokesman. [...]
Coronavirus squeezes mutual funds causing record fund outflows April 6, 2020 The coronavirus-induced market slump caused record fund outflows last month, with fixed income funds particularly badly hit. Investors redeemed a record £3.1bn of their fund holdings in March, according to global funds network Calastone. It represents almost three times the outflows recorded in the previous worst month in June 2016 when the UK voted to [...]
Apple to make 1m coronavirus face shields per week April 6, 2020 Apple has outlined plans to manufacture 1m face shields per week as it ramps up its efforts to tackle the coronavirus outbreak. Chief executive Tim Cook said the tech giant had so far sourced 20m face masks from its global supply chain to distribute to health workers around the world. Apple’s design and engineer teams [...]
Coronavirus: Banks ‘not stepping up to the plate’ in battle to protect business April 6, 2020 The London Chamber of Commerce has added its voice to calls for the UK’s banks to do more to help British businesses, saying lenders “are simply not stepping up to the plate” in the battle against coronavirus. Over the last week there have been major concerns that despite a hefty package of schemes implemented by [...]
Oil prices slip as investors doubt Saudi-Russia agreement April 6, 2020 Oil prices have fallen despite the head of Russia’s sovereign wealth fund saying Russia and Saudi Arabia are “very, very close” to a deal on supply cuts. Brent crude was down 2.5 per cent at $33.30 in a sign that investors are sceptical an agreement will be reached. US West Texas Intermediate was two per [...]
Coronavirus: The banks must step up to the plate April 6, 2020 It’s all down to the banks, now. Not necessarily a phrase to induce confidence a mere eleven years after the banking crisis, but it is true. The Chancellor has pulled out all the stops to provide support mechanisms for companies and employees during the Covid -19 crisis. His rapid actions in the first phase [...]
