McDonald’s trials social distancing measures ahead of reopening April 28, 2020 McDonald’s will trial reopening its restaurants behind closed doors this week as the fast food giant prepares for life after lockdown. The company said it will carry out some operational tests this week to “explore what our reopening might look like”. The restaurant will remain closed to the public while tests are carried out. McDonald’s [...]
R3 boss: Coronavirus is exposing cracks in banking tech April 28, 2020 As banking sectors across the globe grapple with the fallout from the coronavirus pandemic, a Wall Street veteran suggests the crisis may expose the need for new technology. David Rutter, who had a decade-long stint at interdealer Icap and now heads up financial tech firm R3, believes issues like the lending of coronavirus loans have [...]
Oil prices reverse losses as US government considers aid for sector April 28, 2020 Oil prices reversed their losses this afternoon after US government officials indicated that it would provide support to the battered sector. US standard West Texas Intermediate, which earlier today fell nearly 20 per cent, swung back to stand over three per cent up at $13.21. The move came after US treasury secretary Steve Mnuchin said [...]
Councils criticised for slow rollout of coronavirus business grants package April 28, 2020 Business groups have criticised councils for the slow rollout of the government’s coronavirus grant scheme as new figures reveal that almost 40 per cent of all eligible businesses are still waiting for the emergency funding. Councils across the country were given £12.33bn by the government four weeks ago on 1 April to distribute to businesses [...]
Burford Capital shares jump as it predicts coronavirus litigation boom April 28, 2020 Shares in Burford Capital rose 20 per cent today as it predicted a spike in litigation in the aftermath of the coronavirus pandemic. In its annual report, Burford said: “Economic downturns produce litigation claims… [Burford] expects to see significant amounts of litigation, and meaningful demands for capital, over the next several years.” Burford also said [...]
German economy to shrink by 6.6 per cent this year, economists say April 28, 2020 Germany’s economy will shrink by 6.6 per cent this year, one of the country’s leading think tanks has predicted, as tumbling global demand amid coronavirus takes a heavy toll on the exporting powerhouse. The Ifo Institute also said it will take until the end of 2021 for Germany’s output to reach pre-coronavirus. The analysis comes [...]
Remote working: How to keep your team happy in lockdown April 28, 2020 The concept of trust in the workplace has been a topical issue for a few years. The tendency to quickly distrust information has continued to grow against the rise of fake news, making it increasingly difficult for some businesses to develop trust with their employees. Establishing workplace trust has arguably become even more challenging in [...]
Tesco expands online order capacity to 1m slots a week during coronavirus crisis April 28, 2020 Tesco has expanded its online shopping capacity to 1m slots, almost double the number of orders the supermarket was able to fulfil before the coronavirus crisis. The grocer, which previously had between 500,000 and 600,000 slots available each week, will expand its capacity further to 1.2m orders per week as demand for deliveries continues to [...]
There is a difference between helicopter money and quantitative easing April 28, 2020 Many investors have it wrong. This round of central bank alchemy starring Jay Powell is not Ben Bernanke the Redux… Yes, on both occasions central bankers rode in on their white horses and saved the day by slashing rates, buying fixed income securities, flattening volatility and offering bazooka style forward guidance, and for that they deserve [...]
Disney sparks backlash over #MayThe4th hashtag rights claim April 28, 2020 Disney has sparked a backlash on social media after the entertainment giant appeared to claim ownership of the rights to tweets containing the #MayThe4th hashtag. In a tweet posted yesterday by Disney Plus, the streaming service encouraged fans to share their favourite Star Wars memory using the hashtag. But in a follow-up tweet full of [...]
