£2bn of ‘bounce back’ loans for SMEs approved in first 24 hours May 6, 2020 More than 69,000 so-called coronavirus bounce back loans were approved on the first day of them being made available via banks. The approvals equate to over £2bn in loans during the first 24 hours of the bounce back scheme’s launch on Monday, chancellor Rishi Sunak said today. The seven largest UK banks including HSBC, Barclays, [...]
Business organisations form coalition in response to coronavirus May 6, 2020 Leading employer organisations have joined forces to create a united voice for business in response to the coronavirus pandemic. A group of more than 20 organisations have formed the Business Action Council (BAC), which claims to represent more than half a million businesses across the UK. Its founding members include the Confederation of British Industry [...]
Boris Johnson announces target of 200,000 coronavirus tests a day by end of May May 6, 2020 Prime Minister Boris Johnson today announced a new target of 200,000 coronavirus tests a day by the end of May. On his return to Prime Minister’s questions in parliament after recovering from Covid-19 Johnson revealed the new target. Johnson said the government has a new “ambition” to reach 200,000 coronavirus tests a day by the [...]
Elon Musk and Grimes name son X Æ A-12 May 6, 2020 Tesla chief executive Elon Musk and singer Grimes have confirmed they have named their newborn son X Æ A-12. Musk announced the birth of their son on Monday, tweeting: “Mom and baby all good”. He also announced the child would be called X Æ A-12 and Grimes later explained the choice of name. Musk also took [...]
Analysis: Can Disney Plus rescue the House of Mouse? May 6, 2020 Disney last night laid bare the extent of the damage from the coronavirus crisis, which has sent shockwaves through all parts of the entertainment giant’s business. Chairman Bob Iger warned of “unprecedented challenges” as the company reported a $1.4bn (£1.3bn) hit to first-quarter operating income. With lockdown shutting down its theme parks, cruises and its [...]
McColl’s finance chief departs for Holland & Barrett May 6, 2020 The chief financial officer of McColl’s Retail Group will step down to join health food retailer Holland & Barrett, the convenience store chain announced this morning. McColl’s said Robbie Bell had resigned to take up the finance chief role at Holland & Barrett. The company has launched a search for a successor, saying Bell will [...]
Rory Stewart pulls out of London mayoral race May 6, 2020 Independent mayoral candidate Rory Stewart has pulled out of the race for City Hall. The contest has been delayed for a year until 2021 due to the Covid-19 outbreak and Stewart, a former Tory cabinet minister, was unwilling to ask his unpaid staff to work a further year. “London remains the greatest city on earth,”Stewart [...]
Heathrow expansion: UK will not need third runway for up to 15 years May 6, 2020 The chief executive of Heathrow today said it could be 10 to 15 years before the UK need a third runway at the airport due to the coronavirus crisis. Speaking to the transport select committee, John Holland-Kaye insisted that a third runway at the airport remained “a critical economic plank for the growth of the [...]
UK draws up three-stage plan for easing coronavirus lockdown May 6, 2020 The UK has drawn up a three-point plan to ease the coronavirus lockdown, the Times reported. The government must review the lockdown by 7 May, but Prime Minister Boris Johnson has said he is worried that a speedy reopening could cause a second spike in cases. The first phase of relaxation will involve outdoor workplaces [...]
UK economy to shrink eight per cent this year amid coronavirus, says EU May 6, 2020 The UK economy will shrink by 8.3 per cent this year as Europe is ravaged by coronavirus and the lockdown measures put in place to contain it, the European Commission has predicted. Paolo Gentiloni, European commissioner for the economy, said: “Europe is experiencing an economic shock without precedent since the Great Depression.” In the UK, [...]
