FTSE 100 bucks the trend as global stocks fall on US-China tensions May 4, 2020 The FTSE 100 has climbed into the green in afternoon trading, faring better than European and US stocks which fell after the Trump administration stoked tensions with China over coronavirus. Britain’s FTSE 100 index was up 0.1 per cent just after 3pm at 5,770 points. London trading was choppy but helped by a fall in [...]
O2-Virgin Media merger: The deal makes sense, but could rival bids crash the party? May 4, 2020 It’s a busy time for the telecoms industry, which has been forced into overdrive as millions of people turn to mobile and broadband services during the coronavirus lockdown. So it may seem like an unlikely time to embark on a mega-merger, but this is exactly what O2 and Virgin Media are looking to do. Parent [...]
Investment firms deploying new tech are the most trusted among investors May 4, 2020 Investment firms that are deploying new technology are the most trusted by both institutional and retail investors, according to new research. Nearly two-thirds of institutional investors and nearly half of retail investors with an adviser trust their investment firm because of an increased use of technology. There is growing interest in the use of artificial [...]
Office Politics: Six ways the world of work will change May 4, 2020 It has been months now since knowledge-workers worldwide began working from home in response to the Covid-19 outbreak. At first, businesses were understandably focused on the short and medium-term fallout. Now that we can begin, cautiously, to anticipate a post-pandemic world, it’s time to look at the situation we’ve found ourselves in, the adjustments we’ve [...]
England’s coronavirus hospital death toll sees smallest rise since March May 4, 2020 England’s coronavirus hospital death toll rose 204 to 21,384 today, the lowest daily increase since late March. NHS England said that three of the 204 patients who died from coronavirus had no underlying health conditions. The UK has recorded 187,842 confirmed cases and 28,446 deaths, according to Johns Hopkins University data. Last week, Prime Minister [...]
J Crew files for bankruptcy as coronavirus derails turnaround plan May 4, 2020 J Crew has filed for bankruptcy after the coronavirus pandemic forced it to close stores and derailed the retailer’s turnaround plans. Under the terms of the filing, the New York-based clothing brand’s main creditors will take control of the business in exchange for wiping out $1.65bn of debt. Anchorage Capital Group, Blackstone, GSO Capital Partners [...]
Coronavirus: London’s NHS Nightingale to be placed ‘on standby’ May 4, 2020 London’s NHS Nightingale is being put “on standby”, with no new coronavirus patients expected at the temporary hospital. The Prime Minister’s spokesman said today that the makeshift hospital, located at the Excel centre, was being mothballed due to limited demand. The hospital was built to handle up to 4,000 Covid-19 patients, however fewer than 20 [...]
European Commission approves €7bn in state aid for Air France May 4, 2020 The European Commission has approved €7bn (£6.2bn) in emergency funding for embattled airline Air France, saying that if it did not it could cause “severe harm to the French economy”. The aid package will consist of both a state guarantee on loans and a shareholder loan. Margrethe Vestager, the EU’s top competition official, said: This [...]
HSBC receives 12,800 applications for ‘bounce-back loans’ in first few hours May 4, 2020 The UK’s biggest banks have been inundated with requests from small businesses for new coronavirus “bounce-back loans”, with HSBC receiving 12,800 applications in the first few hours of the scheme. The government’s newest coronavirus lending scheme launched today and offers the UK’s smallest companies loans worth 25 per cent of turnover, up to £50,000, just [...]
Jennie Formby resigns as Labour general secretary May 4, 2020 Jennie Formby has resigned as general secretary of the Labour Party after two years in the role. Formby, a Jeremy Corbyn ally, announced her resignation in a statement today, citing a change in leadership as the reason for her departure. The vacant post will be filled by the party’s ruling National Executive Committee (NEC), which [...]
