M&A set for torrid second quarter as deal volumes are expected to contract further May 6, 2020 UK M&A deal volumes are expected to contract further in the second quarter of 2020, after falling to a 35-year low last month. A Mark to Market survey of M&A professionals found that 95 per cent of respondents anticipate deal volumes in the UK to fall in the second quarter. Of those, 56 per cent [...]
Sadiq Khan unveils plans to transform roads for walkers and cyclists post lockdown May 6, 2020 London mayor Sadiq Khan has unveiled a new plan to transform the capital’s streets to accommodate a huge increase in walking and cycling once lockdown measures lift. Under the “Street Space” initiative, pavements will be widened and extra cycle lanes put in to allow people to travel to work while maintaining social distancing. Writing in [...]
Third of UK restaurant and bar bosses expect to permanently close sites due to coronavirus May 6, 2020 Hundreds of UK restaurants, pubs and bars are expected to permanently close due to the coronavirus crisis, according to the latest survey of industry leaders. A third of hospitality executives said they will close some sites due to the pandemic, with just 36 per cent saying they will eventually reopen all of their sites for [...]
Uber to cut 3,700 employees as ride-hailing demand slumps due to coronavirus May 6, 2020 Uber will cut 3,700 employees and its chief executive will forgo his salary for the rest of the year as demand for ride-hailing services collapses due to the coronavirus outbreak. The company said the job losses will include roles in its customer support and recruitment teams, with $20m in costs expected to be incurred as [...]
Markets live: FTSE 100 rises as countries lift coronavirus lockdowns May 6, 2020 The FTSE 100 and European stocks have risen, boosted by gains in healthcare even as dire economic data lays bare the effects of coronavirus. Britain’s FTSE 100 index was trading 0.65 per cent higher before falling slightly to trade up 0.17 per cent at 5,859 points. It climbed around 1.8 per cent yesterday. The mid-cap [...]
Germany to reopen shops and restart football in lockdown easing plan May 6, 2020 Germany’s federal government and its 16 states have agreed a plan to loosen lockdown restrictions, with shops to reopen and Bundesliga football to restart. Social distancing rules will continue for another month in Germany and schools are likely to only gradually reopen. Germany’s states have agreed to take responsibility for the timing of the reopening [...]
Alan Sugar bares his teeth in dental row with advertising watchdog May 6, 2020 Lord Alan Sugar today launched a biting attack on the advertising watchdog as he clashed with regulators over a tweet promoting a teeth whitening kit. The Apprentice star had a brush with the law after he failed to clarify the commercial intent behind a tweet advertising a Stylsmile teeth whitening product. The dental brand was [...]
US private sector sees jobless claims spiral over 20m May 6, 2020 More than 20m US citizens were made redundant last month, a shocking jobless statistic showed today to underline the severe economic impact of coronavirus. Payroll processing body ADP today reported private sector employment plunged by 20,236,000 jobs between March and April. The jobless figures mean around 13 per cent of the 162m Americans employed in [...]
New York Times hits 6m subscribers but warns of advertising slump May 6, 2020 The New York Times has posted a record rise in new subscribers for the first quarter but warned of a slump in advertising revenue caused by the Covid-19 crisis. The newspaper added 587,000 new digital subscriptions in the first three months of the year, taking its total to more than 6m across digital and print. [...]
BMW lowers guidance as coronavirus stalls demand May 6, 2020 German automotive giant BMW has lowered its guidance for the year due to coronavirus, the firm announced today, saying the pandemic would “seriously dampen demand” across all of its markets. The Munich-headquartered company said that its earnings margin for the year would fall to zero to three per cent, down from the two to four [...]
