UK launches 100 per cent state-backed ‘bounce back’ loans May 4, 2020 The UK’s smallest businesses will be able to apply for 100 per cent state-backed so-called bounce back loans worth up to £50,000 from today. The government’s bounce back loans scheme provides micro loans worth 25 per cent of turnover, up to £50,000, just 24 hours after applying for them. The minimum loan amount is £2,000 [...]
Coronavirus: Rail unions warn against increasing rail services May 4, 2020 The UK’s three rail unions have urged Boris Johnson’s and other regional leaders to not implement a blanket increase of train services as the coronavirus lockdown eases. The trio of unions said they would “not accept new working patterns that put the lives of railway workers and passengers at risk” and that they “are not [...]
The UK coronavirus death toll reaches 28,446 May 3, 2020 Another 315 people who tested positive for coronavirus died yesterday, bringing the UK total to 28,446. Cabinet Office minister Michael Gove announced the latest figures at today’s press briefing. Gove confirmed that Boris Johnson would outline the government’s plan to ease coronavirus social distancing restrictions. “The prime minister’s comprehensive plan will explain how we can [...]
British Chambers of Commerce tells PM to ramp up public spending May 3, 2020 The government must sustain high levels of public spending to help the private sector recover from the coronavirus, according to one of the country’s largest business bodies. British Chambers of Commerce (BCC) president Baroness Ruby McGregor-Smith has written to Boris Johnson to say it was “a time to be bold” and that “an expansionary fiscal policy, [...]
Government announces £617m grants for small businesses in shared spaces May 3, 2020 The government today announced a further £617m in grants for small companies that work in shared spaces and are not eligible for business rates relief. The departner for business, energy and industrial strategy (Beis) said the fund is aimed at small businesses with ongoing fixed property-related costs. Beis said it was asking local authorities to [...]
Calls grow for job retention scheme to be extended May 3, 2020 Calls are growing for Rishi Sunak to extend the government’s coronavirus job retention scheme past June. The scheme sees the government pay 80 per cent of people’s wages, up to £2,500 a month, for furloughed employees until the end of June. Boris Johnson next week will announce how the UK will ease social distancing restrictions, [...]
Profit warnings issued by UK businesses hits record high May 3, 2020 Profit warnings issued by UK-listed businesses reached a record-breaking high in the first three months of 2020 according to analysis published today. Big Four audit firm EY said there were 301 profit warnings between 1 January and 31 March, almost equal to the entire number issued in the whole of 2019 (313) and five per [...]
WHO: Second UK coronavirus peak ‘certainly possible’ May 3, 2020 A second peak of coronavirus infections in the UK is “certainly possible”, according to a leading World Health Organisation epidemiologist. Dr Maria van Kerkhove, the technical lead of the World Health Organisation’s Covid-19 response, said countries must “remain on alert for additional transmission” even after they have suppressed the virus. Boris Johnson will announce the [...]
Warren Buffett pulls out of US aviation as Berkshire Hathaway hits $50bn loss May 3, 2020 Warren Buffett’s Berkshire Hathaway has sold its entire stake in the four largest US airlines as it posted a quarterly loss of nearly $50bn (£40bn). Buffett yesterday told the company’s annual meeting that “the world has changed” for the aviation industry. Berkshire held large positions in the airlines, including an 11 per cent stake in [...]
Virgin Media and O2 owners in talks over tie-up May 3, 2020 Spanish telecoms giant Telefonica is in talks with Liberty Global about a merger of its mobile business O2 with Liberty’s Virgin Media cable company. A combination of O2 and Virgin Media would reshape the UK’s telecoms industry, leaving Three and Vodafone stranded without their own fixed-line consumer networks. Telefonica has been examining options for the [...]
