FCA introduces credit card and loan freeze to help consumers through coronavirus April 9, 2020 The Financial Conduct Authority (FCA) announced a package of measures today to help customers with credit cards and loans during the coronavirus lockdown. The City watchdog said the measures would help provide temporary financial relief to people with commonly used consumer credit products. Firms are expected to offer customers a temporary payment freeze on loans [...]
Coronavirus: London’s future remains extremely bright April 9, 2020 In recent weeks, millions of us have begun to work from home for the first time. In the current climate of uncertainty, many wonder about the discrete workforce and supply chain that makes their daily life possible, and realise how we are all deeply interlinked, globally and locally. As millions of us make this transition, [...]
Bank of England to finance government borrowing during coronavirus crisis April 9, 2020 The Bank of England has agreed to temporarily finance government borrowing during the coronavirus crisis, a measure last used extensively during the financial crisis. The UK government normally borrows money via the issues of bonds to the market. The measure announced today gives the government more flexibility in raising cash quickly. “As a temporary measure, [...]
Calls for stamp duty holiday as UK house prices set to fall amid coronavirus crisis April 9, 2020 The government has been urged to take action to support the housing market, including a stamp duty holiday, as UK house prices are forecast to drop due to coronavirus. The Royal Institution of Chartered Surveyors (Rics) has called for a stamp duty holiday as a “short term measure”. It said it could encourage potential buyers [...]
Coronavirus: What can the Chinese economic experience teach the rest of the world? April 9, 2020 The Coronavirus pandemic has brought unprecedented pressure upon the global economy, yet the length of this paralysis is key to answering many of the questions being asked. Albeit too early to properly assess what effects containment measures – initiated by governments across the world – are currently having, it is likely that these will intensify [...]
Wagamama owner The Restaurant Group raises £57m amid coronavirus crisis April 9, 2020 Wagamama owner The Restaurant Group has raised £57m through a share placing to shore up its finances amid the coronavirus pandemic. Restaurant Group completed the equity raise this morning after announcing it last night. In a statement the company said: “The placing is expected to provide sufficient liquidity for the Company to deal with this [...]
Speedy Hire furloughs 50 per cent of staff, freezes pay and mulls dividend suspension April 9, 2020 Speedy Hire said today that it had put half its staff on furlough, frozen pay and was examining suspending its dividend to help it get through the coronavirus economic slowdown. The tool and equipment hire business said it was still operating, with most staff working from home and hiring being carried out online or over [...]
UK economy grew just 0.1 per cent before coronavirus lockdown April 9, 2020 The UK economy grew 0.1 per cent in the three months to February before the coronavirus lockdown hit businesses. The Office for National Statistics (ONS) data showed the increase was entirely down to the services sector. The tiny rise, which is measured on a three-month rolling basis, was a slight improvement on the three months [...]
Oil prices: Opec and Russia to discuss production cuts April 9, 2020 Opec and Russia will meet today to try to negotiate cuts to production cuts in a bid to address a drop in oil prices during the coronavirus crisis. Demand for fuel has plunged as much as 30 per cent after lockdowns and travel restrictions forced airlines to ground their plans and car usage slumped amid [...]
