Coronavirus: Transport for London to furlough 7,000 staff April 24, 2020 Tube operator Transport for London (TfL) will put 7,000 of its staff onto the government’s job retention scheme from Monday to cut costs during the coronavirus pandemic. Passenger number on TfL’s services have plummeted in recent weeks due to the coronavirus lockdown, as all but essential workers have taken to working from home. According to [...]
Coronavirus: Boris Johnson ‘plans to return to work on Monday’ April 24, 2020 Boris Johnson is intent on returning to work as soon as Monday to continue tackling the coronavirus crisis, it is reported. Earlier this month, the Prime Minister was discharged from St Thomas’ Hospital following his own battle with coronavirus. He has since been recovering at Chequers, his countryside residence. But Johnson – who spent three [...]
Chancellor Rishi Sunak preparing 100 per cent coronavirus loan guarantees for smallest firms April 24, 2020 Chancellor Rishi Sunak is preparing to launch a new coronavirus support scheme that offers 100 per cent guarantees on loans to the smallest UK businesses, amid criticism that the current programme is not getting cash to firms fast enough. The coronavirus business interruption loan scheme (CBILS) offers loans of up to £5m to companies with [...]
Investors believe coronavirus lockdown will return with a rocky road to recovery April 24, 2020 The majority of investors believe the coronavirus lockdown will return, implying a precarious road to economic recovery. A Peel Hunt survey of investors and corporate managers reveals uncertainty over timing and severity of the lockdown, but the strong view is that it will likely return. Last week the foreign secretary Dominic Raab extended the UK’s [...]
Burberry to keep paying furloughed staff during Covid-19 crisis April 24, 2020 Burberry today said it will keep paying employees who are unable to work because of store or site closures during the coronavirus crisis. The luxury brand said it would not make use of the government’s furlough scheme — which pays 80 per cent of salaries for non-working staff — for jobs in the UK, where [...]
Government’s coronavirus website runs out of tests within minutes April 24, 2020 The government’s online coronavirus testing scheme for essential workers was closed within minutes of opening this morning. At Thursday’s daily Downing Street briefing, health secretary Matt Hancock announced the expansion of the testing programme to include key workers and people from their households. He said millions of people could book an appointment for a drive-through [...]
PM’s ex-economic adviser urges govt to go ‘further’ on coronavirus loans April 24, 2020 A former chief economic adviser to Boris Johnson has urged the government to underwrite 100 per cent of coronavirus business loans. Speaking exclusively to City A.M. editor Christian May on the City View podcast, Dr Gerard Lyons called on the government to do more to funnel loans to small businesses hit by coronavirus. Lyons said [...]
Lufthansa books €1.2bn first quarter loss as carrier seeks state-backed loan April 24, 2020 Late last night German state carrier Lufthansa announced it had taken a €1.2bn loss for the first quarter of 2020, raising the prospect that it could go out of business in weeks unless it receives state aid. As a result of the coronavirus outbreak, the flier has been forced to ground almost all of its [...]
‘Catastrophic’: German business sentiment crashes to new low amid coronavirus April 24, 2020 Business optimism in Germany is at “catastrophic” levels according to a closely watched gauge that has dropped to its lowest point on record as coronavirus ravages Europe’s biggest economy. The Ifo Institute think tank’s business climate index slumped to 74.3 points in April from 85.9 points in March. Never before has the index fallen so [...]
Mike Ashley’s Frasers Group misses out on coronavirus loan, settles Belgian tax bill April 24, 2020 Mike Ashley’s Frasers Group’s application for a coronavirus loan has been rejected, it admitted today, as it finally settled a €674m (£588m) Belgian tax bill. Frasers Group (formerly Sports Direct) saw it application for a government bridging loan denied, sending shares down 2.4 per cent. The Covid Corporate Financing Facility (CCFF) scheme is open to [...]
