Banks urged to collaborate with fintech firms amid competition from digital rivals April 21, 2020 Traditional banks must collaborate with fintech firms if they are to offer the best customer experience and stay relevant in the modern market, according to a report published today. While lenders have invested heavily in front-end IT infrastructure, their efforts are lagging behind the norm in other sectors, according to the World Fintech Report 2020. [...]
The City View podcast: M Restaurants CEO Martin Williams on cooking for the NHS April 21, 2020 In this episode, Christian is joined by the CEO of Gaucho and M Restaurants, Martin Williams. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Martin is one of the country’s best known restaurateurs having launched his high-end M Restaurants in London before bringing the Gaucho empire into the fold. He talks [...]
Coronavirus: UK government borrowing could top £300bn, says think tank April 21, 2020 UK government borrowing could hit £300bn this year as tax receipts collapse and the Treasury pumps money into the economy to tackle the fallout from coronavirus, according to a new report. The £300bn figure, produced today by the Centre for Policy Studies (CPS) think tank, would be by far the biggest budget deficit since World [...]
Polling shows three-in-four people want post-coronavirus tax cuts April 20, 2020 Almost three-in-four people want to see tax cuts to reboot the economy after the coronavirus crisis, according to new polling. A poll by Survation/Adam Smith Institute showed there was overwhelming support, 72 per cent of people, for a reduction in taxes to “try and increase economic growth and jobs”, particularly among younger adults. Of those [...]
Ex-chancellor Philip Hammond warns business must be prepared for coronavirus lockdown exit plan April 20, 2020 Former chancellor Philip Hammond has warned that the government must make sure businesses are well prepared for a coronavirus lockdown exit plan. Hammond said it is “vital that business is ready for the green light” when restrictions are lifted in order to mitigate the risk of corporate collapses and job losses. “We don’t know whether [...]
UK pubs face permanent closure without extra support, industry warns April 20, 2020 Thousands of UK pubs could struggle to survive the coronavirus lockdown without additional financial support, the industry has warned after the government indicated that the sector could be among the last to see restrictions lifted. The British Beer & Pub Association (BBPA) has called on the government to announce extra support for the industry amid [...]
US oil price turns negative for first time ever April 20, 2020 US crude oil futures turned negative for the first time in history today as storage space filled up and demand fell to coronavirus lockdowns across the world. The May US WTI contract CLc1 fell $19.06, or 104.3 per cent, to a discount of 79 cents a barrel, after touching an all-time low of minus $1.43 [...]
London property: Number of new homes on the market drops across all boroughs April 20, 2020 The London property market has been hit by the UK’s coronavirus lockdown, with all boroughs suffering a sharp decline in the number of new homes on the market. Outer boroughs such as Hillingdon and Bromley have seen the steepest drop, with the number of new homes for sale falling 91 per cent since restrictions were [...]
Increasing numbers of EU citizens wrongly denied Universal Credit, says lobby group April 20, 2020 Some EU nationals living in the UK are being wrongly denied access to benefits during the coronavirus crisis, according to an advocacy group for EU citizens. Lobby group the3million, created to protect the rights of EU citizens living in the UK, has said that EU citizens eligible for Universal Credit have been turned down and [...]
Rishi Sunak ‘not persuaded’ to underwrite 100 per cent of coronavirus loans April 20, 2020 Rishi Sunak has said he is “not persuaded” that the government should underwrite 100 per cent of all loans in the coronavirus business loan schemes. Speaking at today’s daily press conference, Sunak said: “I’m not persuaded moving to a 100 per cent guarantee is the right thing to do.” The coronavirus business interruption loan scheme [...]
