Oil prices plunge amid fears of historic crash repeat April 27, 2020 Oil prices plunged this morning amid signs that the world’s storage facilities were on the brink of capacity, raising fears that producers are not cutting output fast enough to offset the collapse in demand. After last week’s historic crash, which saw the price of US standard West Texas Intermediate (WTI) turn negative for the first [...]
Airbus ‘bleeding cash at an unprecedented speed’ due to coronavirus April 27, 2020 Planemaking giant Airbus has written to its 135,000 staff warning them to expect deeper job cuts, with the firm “bleeding cash at an unprecedented speed”. In a letter to employees, chief executive Guillaume Faury said that the aerospace behemoth’s survival was at stake, saying that the recent drop in production of a third was not [...]
Boris Johnson returns to work under pressure to ease UK coronavirus lockdown April 27, 2020 Boris Johnson faces a flurry of meetings about the UK coronavirus lockdown upon his return to Downing Street today after his own severe battle with the infection. The Prime Minister returns to work today after three weeks of fighting off a coronavirus infection that could have killed him. After confirming his positive diagnosis on Twitter [...]
Coronavirus: Asian markets rebound as Bank of Japan expands stimulus package April 27, 2020 Asia’s premier markets opened strongly this morning after the Bank of Japan announced it would buy an unlimited amount of government bonds in order to protect the country’s economy from the coronavirus pandemic. The Nikkei rose 2.8 per cent to 19,803.76, the Hang Seng picked up two per cent to 24,304.32 and the MSCI, which [...]
China is fighting a Cold War. Has the West realised it yet? April 27, 2020 Beneath the endless conferences and diplomatic niceties, at root international diplomacy is always the handmaiden of power politics. As the 16th century English diplomat, Sir Henry Wotten, so aptly put it, an ambassador can be defined as ‘an honest man sent to lie abroad for the good of his country.’ But the eternal contest for [...]
Coronavirus: The City’s third sector has shone amid pandemic April 27, 2020 The coronavirus outbreak is an unfolding global health emergency that requires us all to play our part. We are seeing people from all walks of society across London and the UK coming together to tackle COVID-19 – be it through fundraising activities, volunteering in the community, or by simply checking in on a lonely neighbour [...]
The City View podcast, from City A.M., with Dan Korski April 27, 2020 In this episode, Christian talks to Dan Korski, who served as a senior adviser to Prime Minister David Cameron. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Since leaving government, Dan has focused on backing startups and he’s now the CEO and co-founder of Public – supporting tech firms in [...]
UK coronavirus business loan scheme approval rate half of Germany’s April 27, 2020 The UK’s coronavirus business loan scheme has half the approval rate of its German equivalent, data has shown, as chancellor Rishi Sunak mulls the creation of a new programme targeted at the country’s smallest businesses. The latest figures from banking body UK Finance showed on Thursday that 16,600 firms had received loans worth a total [...]
UK economy will take three years to recover from coronavirus, say analysts April 27, 2020 The UK economy could take three years to return to its 2019 size after the coronavirus pandemic has passed, a new report has warned, as consumer spending and business investment plunge. The report from economics forecaster EY Item Club said UK GDP would likely shrink 6.8 per cent in 2020 and unemployment would surge to [...]
Businesses call for clarity on lockdown as fears grow for firms and jobs April 27, 2020 Business leaders’ group the Institute of Directors (IoD) has called on the government to provide more information about reopening the economy as bosses grow fearful about their firms’ prospects after the coronavirus outbreak. It comes as a report shows that one in three jobs are at risk in some parts of the country, including the [...]
