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 [...]
Woman wrongly charged under new coronavirus legislation April 3, 2020 British Transport Police has admitted wrongly charging a woman who was fined under new coronavirus legislation. Following a joint review with the Crown Prosecution Service (CPS), the British Transport Police (BTP) said Marie Dinou had been charged under the incorrect section of the Coronavirus Act. She had been fined £660 by magistrates for breaching coronavirus [...]
Coronavirus: ITV bosses take 20 per cent pay cut as bonuses scrapped April 3, 2020 ITV today scrapped director bonuses and said its entire board would take a 20 per cent pay cut in light of the coronavirus crisis. The broadcaster became the latest company to announce executive salary cuts in the face of coronavirus, after scrapping its 2019 dividend and abandoning 2020 guidance. Executive directors asked that their annual [...]
Labour asks how Hancock’s coronavirus testing pledge will be met April 3, 2020 The government is under pressure to explain how it will increase its coronavirus testing ten-fold by the end of the month. Yesterday health secretary Matt Hancock said he wants 100,000 tests to be carried out every day, up from the 10,000 currently. However the Labour Party has said there is little detail on how this [...]
