Coronavirus: WHO chief regrets US pullout as global cases pass 2m April 15, 2020 The head of the World Health Organization (WHO) has said that he regrets US president Donald Trump’s decision to pull funding from the body as the global number of cases of coronavirus passed 2m. In the run-up to his decision to withdraw around $400m to the UN body – or 15 per cent of its [...]
Bank lobby chief says changes to coronavirus loan scheme may be necessary April 15, 2020 The head of Britain’s banking lobby group has said the government’s coronavirus business loan scheme may need to change in order to increase lending to smaller businesses. UK Finance chief executive Stephen Jones told the Treasury Select Committee today that the government may need to guarantee 100 per cent of loans for small businesses, instead [...]
The City View from City A.M., with Jimmy McLoughlin April 15, 2020 Join Christian May, City A.M.’s Editor in Chief, for The City View – the daily podcast from City A.M. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS On each edition of The City View podcast, Christian will discuss the most important business and finance stories of the day before introducing a [...]
Apple unveils second generation version of budget iPhone SE April 15, 2020 Apple today unveiled the second generation model of its budget iPhone SE as the tech giant looks to tap into demand for more affordable smartphones. The new iPhone SE resembles the design of the iPhone 7 launched in 2016, with a smaller 4.7-inch retina display and the traditional Touch ID fingerprint sensor, rather than facial [...]
Oil prices continue slump as prospects for recovery look slim April 15, 2020 Oil prices continued to fall today amid further signs that Opec’s record production cuts would not be sufficient to stabilize the oil market amid a coronavirus-driven recession. Benchmark Brent crude dropped over six per cent for the second consecutive day, falling to $27.50, while West Texas Intermediate fell below $20 to stand at $19.51. The [...]
UK ‘probably’ at coronavirus peak, says chief medical officer April 15, 2020 The UK is likely now in the peak of its coronavirus outbreak, according to the government’s most senior health adviser. Chief Medical Officer Chris Whitty said at today’s daily press briefing that the UK was “probably reaching the peak overall” of the country’s outbreak and “that’s what the flattening” of the increase in new cases [...]
Guardian, Financial Times and Telegraph furlough staff as coronavirus hits newspaper revenue April 15, 2020 The Guardian, Financial Times (FT) and Telegraph today said they will furlough dozens of employees as the coronavirus outbreak decimates advertising revenue for news organisations. Guardian Media Group (GMG), which runs the Guardian and Observer, said it expects revenue for the first six months of the financial year to fall by £20m due to a [...]
Business minister searching for ways to protect businesses which pay using dividends April 15, 2020 Business minister Paul Scully is trying to find ways of protecting business owners who pay themselves through dividends during the coronavirus crisis. Such businesses are currently not covered by the Treasury aid programmes. The Financial Times reported that Scully, whose portfolio covers the UK’s small businesses, is looking for solutions to cover such firms. Chancellor [...]
Coronavirus: Governments face huge but necessary debt increases, says IMF April 15, 2020 The “unprecedented” government spending to tackle coronavirus and its economic effects will send deficits past their post-financial crisis levels and cause debt levels to balloon, the International Monetary Fund (IMF) said today. The IMF backed huge levels of spending, however, saying “a sizable increase in deficits this year is necessary and appropriate”. It said government [...]
Jobs lost as Oasis and Warehouse fall into administration due to coronavirus April 15, 2020 High street retailers Oasis and Warehouse have today fallen into administration, resulting in the loss of 202 jobs. In total, 41 head office jobs will be retained to assist Deloitte, which has been appointed as administrator, while 1,801 employees will be furloughed. The Oasis, Warehouse and Idle Man brands will continue to trade online in [...]
