Toyota expects profit to fall 80 per cent on coronavirus hit May 12, 2020 Japanese carmaker Toyota today said it expects profit to fall 80 per cent to its lowest level in nine years after the impact of coronavirus on its sales. Toyota said it expects to take a massive 1.5 trillion yen (£11bn) hit from a collapse in global sales, but it still expects to scrape an operating [...]
Easyjet founder offers £5m reward for Airbus deal ‘whistleblower’ May 12, 2020 Easyjet’s founder Stelios Haji-Ioannou is offering a £5m reward to any “whistleblower” who can provide information leading to the cancellation of the airline’s 107-plane deal with Airbus. Haji-Ioannou has been attempting to force Easyjet’s board into scrapping the deal for months, saying the £4.5bn deal will leave the carrier without enough cash to survive the [...]
Upcycling: Putting the wheels in motion May 12, 2020 Coronavirus. COVID-19. The pandemic. The Plague of 2020. I don’t know how we’ll remember this extraordinary, strange, terrible time we’re living through, but it’s certain that we will, and that it will be—has already been—transformative, for businesses and for society more generally. I’m an entrepreneur, and my business is reputation. What’s been fascinating for me [...]
Hundreds of firms yet to receive money through furlough scheme May 12, 2020 Hundreds of UK firms who have furloughed staff during the coronavirus pandemic are yet to receive money through the government’s scheme. The job retention scheme has been a cornerstone of the Chancellor’s coronavirus support package. It sees the government pay up to 80 per cent of wages, of up to £2,500 a month, to workers [...]
Coronavirus: Contact-tracing app to launch in mid-May May 12, 2020 The coronavirus contact-tracing app will be rolled out across England in mid-May, health secretary Matt Hancock confirmed today. The NHS app, which authorities hope will help to track the spread of the virus, was launched on a trial basis on the Isle of Wight last week. Hancock today said the government was “pleased” with progress [...]
Elon Musk reopens Tesla factory in defiance of lockdown rules May 12, 2020 Tesla’s chief executive Elon Musk has said that the electric car firm will restart production at its factory in California despite an order forcing it to remain closed. In a tweet last night, Musk said that if anyone had to be arrested over the decision, it should be him: “Tesla is restarting production today against [...]
Moss Bros reopens online store after government return to work guidance May 12, 2020 Menswear retailer Moss Bros has reopened its online store following updated government advice for more people to return to work. The company said it will relaunch its e-commerce operations from tomorrow after implementing safety measures and following updated government guidance on returning to work. Moss Bros, which closed its physical and online stores in March, [...]
Coronavirus lockdown: Commuters should prepare to queue, government says May 12, 2020 The government has said that commuters using public transport should prepare to queue as more people begin to return to workplaces on Wednesday. In new guidance published today by the Department for Transport (DfT), people are urged to avoid public transport where possible and to prepare for journeys to take longer than normal. “If you [...]
Deliveroo launches in-app fundraising tool for free NHS meals May 12, 2020 Deliveroo today announced the launch of a new in-app fundraising tool allowing users to donate meals to NHS workers. From this week customers will be able to either round up their bill to the nearest pound or add an additional tip at checkout on the Deliveroo app. These funds will go towards the cost of [...]
Bank of England must weigh up negative interest rates, says deputy governor May 12, 2020 Bank of England deputy governor Ben Broadbent has raised the possibility of negative interest rates in the UK, but said the BoE would have to think hard about the challenges they pose. Asked about negative rates on CNBC, Broadbent said it was “a question that’s been thought about on and off since the financial crisis [...]
