One million employees already registered for job retention scheme April 20, 2020 More than 140,000 firms counting for one million furloughed employees have registered to the government’s coronavirus wage subsidy scheme in its first day. The scheme opened this morning at 8am and received almost 70,000 applications in just half an hour. The job retention scheme sees the government pay 80 per cent of wages, up to [...]
UK coronavirus death toll rises to 16,509 April 20, 2020 The UK coronavirus death toll has hit 16,509 after a further 449 people were confirmed to have died in hospital after testing positive for Covid-19. The figure, which includes deaths as of 5pm yesterday, is the lowest daily increase in deaths for two weeks. However the number of reported hospital fatalities is often lower on [...]
Ofcom sanctions London Live over David Icke coronavirus conspiracy interview April 20, 2020 Ofcom has sanctioned London Live after the TV channel aired an interview with conspiracy theorist David Icke that contained “potentially harmful” views about the coronavirus outbreak. The regulator received 48 complaints about the 80-minute programme, in which Icke made a raft of unsubstantiated claims, including that official health advice was designed to further the ambitions [...]
City fitness studio fears insolvency after being rejected for CBILS coronavirus loan April 20, 2020 The director of a City fitness studio said he fears the company could go bust after being rejected for support under the Coronavirus Business Interruption Loan Scheme (CBILS). Victus Soul, a fitness studio in Mansell Street near Aldgate, launched in November 2018 and turned a profit from last November. The business offers high intensity training [...]
Analysis: Can oil prices recover from the coronavirus crash? April 20, 2020 Global oil prices plunged again today amid heightened fears that some producers might have to stop pumping due to the rapid filling of the world’s storage facilities. West Texas Intermediate, the US benchmark, is in freefall, dropping 40 per cent today alone, whilst Brent crude fell over seven per cent. The collapse in prices, coupled [...]
Treasury Committee calls on banks to provide daily updates on coronavirus business interruption loan scheme lending April 20, 2020 The Treasury Committee has today written to the British Business Bank (BBB) and UK Finance to request daily updates on lending under the coronavirus business interruption loan scheme (CBILS). Critics of the scheme, ranging from shadow business minister Ed Miliband to former Conservative chancellors George Osborne and Sajid Javid, have warned that slow lending by [...]
European regulators scrutinise investment fund liquidity sparked by sell-off April 20, 2020 Asset managers across Europe are coming under increased scrutiny as regulators ask for new information about their ability to meet investor withdrawals. The French and German financial regulators are asking for daily updates of investor redemptions as they seek to stave off a liquidity crunch sparked by the coronavirus-induced market sell-off. It comes after investors [...]
Ex-Home Office chief Sir Philip Rutnam launches legal action against Priti Patel April 20, 2020 Former Home Office chief Sir Philip Rutnam has launched legal action against home secretary Priti Patel. Sir Philip, who was the most senior civil servant in the department, today lodged an employment tribunal claim for unfair dismissal and whistleblowing against Priti Patel, according to civil service union FDA. A government spokesperson said: “We do not [...]
US oil prices plummet to 21-year low as demand dries up April 20, 2020 US oil prices have plunged 40 per cent to their lowest level since 1999 as demand dries up and storage facilities struggle to cope with the surplus of oil. The price of a barrel of West Texas Intermediate (WTI) – the benchmark for US oil – dropped to $11.65 today, amid fears production might have [...]
Germany lockdown eases as Angela Merkel warns against second wave risk April 20, 2020 Germany Chancellor Angela Merkel today lashed out at “discussion orgies” taking place across the country as some shops opened their doors for the first time since the coronavirus lockdown In a party meeting over video conference Merkel warned extended debates in some states about how to ease Germany lockdown measures risked increasing rates of infection. [...]
