BBC to reshow London 2012 Olympics as sports schedule collapses April 2, 2020 The BBC will reshow the London 2012 Olympics as the broadcaster battles to fill holes in its schedule caused by the cancellation of sporting events. The opening ceremony will air on BBC One and iPlayer this spring alongside a selection of highlights, including the so-called Super Saturday, when Team GB won six gold medals in [...]
Accountancy firm criticises ‘alarmist’ prediction of 800,000 coronavirus insolvencies April 2, 2020 Restructuring specialists at accountancy firm RSM said media reports that 800,000 to 1m UK businesses could collapse as a result of the coronavirus crisis are “alarmist at best”. Yesterday, the BBC, citing an unnamed accounting firm, said 800,000 to 1m businesses, a fifth of the UK total, “may soon have to close”. RSM partner Gareth [...]
Banks must engage with businesses on coronavirus loans or “be bypassed”, think tank says April 2, 2020 The UK’s banks must engage with businesses seeking coronavirus support measures or “be bypassed” by the government, a new paper has found, as pressure grows on lenders to do more to support struggling companies. The report, from think tank Policy Exchange, says that it is imperative that measures already announced by the government such as [...]
Ratings agency Fitch predicts deep recession in 2020 on back of coronavirus pandemic April 2, 2020 Ratings agency Fitch today predicted a deep global recession in 2020 following the rapid global spread of coronavirus. Fitch said it expected worldwide economic activity to decline 1.9 per cent in 2020, with US, eurozone and UK GDP down by 3.3 per cent, 4.2 per cent and 3.9 per cent respectively. It said it expected [...]
Business heavyweights sign on to Covid-19 business pact April 2, 2020 Some of the UK’s largest companies, including BP and RBS, have signed up to a pledge to provide extra support their employees and customers through the coronavirus. Former cabinet secretary Justine Greening created the initiative, called the C-19 Business Pledge, and involves companies promising to offer things like financial security advice and mental health help [...]
Amazon wins trademark battle against Davidoff perfume maker April 2, 2020 Amazon has won a legal battle against the cosmetics firm behind Davidoff after the ecommerce giant listed unlicensed bottles of the perfume on its platform. The German arm of Coty, which owns the Davidoff brand, complained that Amazon had infringed its trademark by stocking the perfume from third-party sellers. Coty initially brought the case before [...]
FTSE 100 bounces back as Trump declares end to oil price war April 2, 2020 The FTSE 100 looked set to end the day on a high as US President Donald Trump said Saudi Arabia and Russia had ended their oil price war. Energy stocks jumped to propel the London index back into the green after a tumultous day for global stocks. Staggering data showed 6.6m US jobless claims occurred [...]
Oil prices soar as Donald Trump reveals Saudi-Russia deal April 2, 2020 Oil prices soared this afternoon as US president Donald Trump said that Saudi Arabia and Russia had agreed a deal to end their price war and curb production. Brent Crude shot up nearly 22 per cent within half an hour of the president’s revelation, which was made over Twitter. The benchmark is now trading at [...]
Intu warns tenants over unpaid rent amid coronavirus pandemic April 2, 2020 Embattled retail landlord Intu has threatened to issue statutory demands to tenants that have refused to pay rent during the coronavirus crisis. The shopping centre owner, which revealed last week that it had collected just 29 per cent of the quarterly rent due, said it had “neither the desire or financial capacity” to waive rents [...]
US stocks rebound after Donald Trump announces oil deal April 2, 2020 US stocks have rebounded after President Donald Trump said Saudi Arabia and Russia have agreed to cut oil production, boosting prices and helping energy companies in the middle of the coronavirus slowdown. The rise on Wall Street came despite US jobless claims surging. The number of Americans claiming unemployment benefits for the first time hit [...]
