Coronavirus: UK household finances in worst state since 2011 April 20, 2020 UK households said their finances were in the worst position since 2011 in March as coronavirus battered the economy, according to a new survey. Households also reported that their income from employment plunged at the fastest rate in at least 11 years and fears about job security spiked. The household finance index from data firm [...]
City grandees demand cash calls accommodate private investors April 20, 2020 Senior City figures are calling for listed companies seeking equity capital to accommodate private investors, amid a fundraising rush. In an open letter to chief executives of UK plc, City stakeholders said they fear rules giving existing stockholders first refusal on new shares will mean private investors will lose out. The letter, first reported in [...]
Boris Johnson’s cabinet split over coronavirus lockdown period April 20, 2020 Boris Johnson is reportedly dealing with a cabinet split between those who want to end the coronavirus lockdown early and those who want to take a more cautious approach. Various media reports over the weekend said chancellor Rishi Sunak and Cabinet Office minister Michael Gove were pushing for the lockdown to be eased to avoid [...]
Coronavirus: Bank of England says 35 per cent GDP drop ‘not unrealistic’ April 20, 2020 A Bank of England deputy governor has said the economy could shrink by 35 per cent in the second quarter if the coronavirus lockdown lasts three months, saying the scenario produced last week by the UK’s budget watchdog was not “unrealistic”. The Office for Budget Responsibility (OBR) said the UK economy could contract by 35 [...]
Opinion: Supermarkets look a good bet April 20, 2020 The received wisdom at present is that UK property capital markets have pretty much gone into suspended animation in the face of the pandemic, but this certainly isn’t the case in the grocery-led sector. There are currently seven substantial supermarket transactions totalling around £205m which are either under offer or due to imminently complete. And [...]
Coronavirus: British tech firms welcome government’s £1.25bn startup package April 20, 2020 The UK tech sector has hailed a “bold intervention” after the government unveiled a £1.25bn coronavirus support package for startups and research and development firms. The Treasury today announced a new £500m loan scheme for high-growth startups and £750m of grants for small and medium sized businesses focused on research and development. The support package, [...]
Richard Branson warns Virgin Atlantic needs coronavirus loan to survive April 20, 2020 Virgin Atlantic owner Sir Richard Branson has warned that the beleaguered airline will need government financial support in order to survive the coronavirus crisis. In a blog post to Virgin employees, Branson said: “The reality of this unprecedented crisis is that many airlines around the world need government support and many have already received it. “We will [...]
Future completes TI Media takeover as Covid-19 hits magazine sales April 20, 2020 Publishing group Future today said it had completed its takeover of rival TI Media but warned of job cuts as the coronavirus outbreak takes its toll on magazine sales. The competition watchdog last week cleared Future’s £140m offer for TI Media — which owns titles such as Country Life and Marie Claire UK — subject [...]
Italy’s borrowing costs rise as investors await key coronavirus meeting April 20, 2020 Italy’s borrowing costs have risen again today as investors nervously await an EU meeting on Thursday where countries will try to thrash out an agreement on how to tackle the coronavirus fallout. Italian bond yields, which move inversely to prices, have risen in recent weeks as the EU has struggled to find a decisive and [...]
