Asian stocks climb as hopes grow coronavirus is peaking April 9, 2020 Asian stocks rose today as hopes grew the global coronavirus outbreak is reaching its peak and oil prices grew on expectations of a production cut. Hong Kong’s Hang Seng index rose 0.65 per cent despite Japan’s Nikkei dropping 0.33 per cent overnight. The Nikkei sank as coronavirus infections rose in Japan, after the government declared [...]
Coronavirus downturn ‘will exacerbate UK health inequality’ April 9, 2020 The economic downturn caused by the coronavirus outbreak will disproportionately harm the health of the most vulnerable in society and exacerbate inequality, a top think tank has warned. In a report published today, the Institute for Fiscal Studies (IFS) said the pandemic was putting the NHS under “unprecedented” strain, leading to cancelled operations and disruptions [...]
Nearly half of UK companies have scrapped dividend payments April 9, 2020 Nearly half of UK companies have scrapped dividend payouts as the coronavirus crisis batters business. The pace of dividend cuts has accelerated since the FTSE 100 slumped to its lowest point in over 25 years last month. Link Group’s UK dividend monitor shows 45 per cent of UK companies have scrapped payments, worth £28.2bn. It [...]
Coronavirus: UK tech sector ‘at risk’ as firms miss out on loans April 8, 2020 The thriving UK tech sector is under threat as firms are missing out on a £330bn coronavirus support plan, Deliveroo, Citymapper and more have warned. In a letter to chancellor Rishi Sunak, 12 of the UK’s most prominent tech chiefs today called for an urgent meeting with officials to find a way for tech firms [...]
British bank bosses give up bonuses amid coronavirus crisis April 8, 2020 Top bosses at British banks including Natwest and Lloyds have taken salary cuts and ditched bonuses worth millions of pounds as consumers and businesses suffer the impact of the coronavirus outbreak. Natwest chief executive Alison Rose will donate a quarter of her remaining salary for 2020 — set at £2.2m per year — to a [...]
UK’s wage subsidy scheme on track for April roll out April 8, 2020 The government’s wage subsidy scheme is on track to be open on schedule as the nation’s top taxman warns it could be targeted by fraudsters. The Job Retention Scheme sees the government pay 80 per cent of wages, up to £2,500 a month, for employees that have been unable to work during the Covid-19 crisis [...]
Coronavirus business loans hit £450m but doubts about scheme remain April 8, 2020 UK banks have now lent £453m through the government’s coronavirus business loans scheme as it picks up following an overhaul, although a large number of firms are still struggling to access the cash they need. The Treasury said today that more than 2,500 loans for business had been approved as of yesterday via the coronavirus [...]
‘Urgent action’ must be taken to protect more workers, says Treasury committee April 8, 2020 Urgent action must be taken to provide economic relief for those not covered by the government’s coronavirus support packages, according to parliament’s Treasury committee. Mel Stride, chair of the Treasury Select Committee, wrote to chancellor Rishi Sunak today to ask for an extension of the government’s self-employed coronavirus package in particular. The committee said it [...]
Jewish Chronicle and Jewish News collapse into liquidation April 8, 2020 The Jewish Chronicle and The Jewish News are set to collapse into liquidation after their parent company reportedly ran out of money due to the coronavirus outbreak. The weekly London papers said they had taken the decision to seek creditors voluntary liquidation, which is expected to be finalised in the next two to three weeks. [...]
Rishi Sunak to hand £750m in assistance to UK’s charities April 8, 2020 Chancellor Rishi Sunak has unveiled a £750m package to assist the country’s frontline charities during the coronavirus pandemic. Charities providing essential services and supporting vulnerable people will be eligible to receive direct funding from the government out of a £360m pool. These will include hospices, St Johns Ambulance, victims charities, vulnerable children charities and citizens [...]
