Don’t leave the South East behind as Britain levels up March 31, 2020 The Big Smoke dominates — our economy, our culture and our, well, pretty much everything in the UK. In Westminster, just a small corner of the behemoth that is London, life-changing decisions — for better and worse — are being made that will dramatically impact public services, businesses, and families for years to come. That [...]
Competitive sectors face the hardest hit from coronavirus March 31, 2020 The package of economic support offered by the Treasury — from a standing start — is one of the most impressive among any western country. But the cascading consequences of the coronavirus crisis mean that there are all kinds of areas where the pleas for help continue to come. Small businesses, for example, are the [...]
Why you’re more likely to fail in business if you don’t continually learn March 31, 2020 Failure is something that we all experience. Regardless of career, everyone faces times when they make mistakes and don’t achieve planned objectives. In business, 90 per cent of startups fail and some of the most prolific people in history have failed at some point. Oprah Winfrey, a billionaire famed for her candid interviews, was fired [...]
Coronavirus: UK business confidence falls to lowest level since October March 31, 2020 Overall UK business confidence fell to its lowest level since October amid the coronavirus crisis, reflecting a drop in both trading prospects and economic optimism. The Lloyds Bank Business Barometer shows a 17 percentage point drop to six per cent last month. Economic optimism dropped from 23 per cent, its highest level for 17 months, [...]
Aston Martin furloughs workers as production suspended March 30, 2020 UK sports car-maker Aston Martin said today it would furlough some of its workers after the coronavirus crisis forced it to close factories. Under the government scheme employers can claim for 80 per cent of wage costs of up to £2,500 for staff they place on leave. The company suspended production at its Gaydon and [...]
Standard Chartered to freeze staff and cut bonuses to weather crisis March 30, 2020 Ftse 100 bank Standard Chartered has told staff it is freezing hiring for two months and said it is likely to cut bonuses, as it grapples with the fallout from the coronavirus pandemic. The Asia and Africa-focused bank said it would also re-prioritise discretionary investment for the time being, the company said in a memo [...]
Co-ordinated stimulus package recognises the critical role of banking to support the economy March 30, 2020 A consistent message from financial regulators post 2008 was that the next financial crisis would look different. Few would have predicted a global health pandemic, coupled with an oil price war, would dramatically curtail economic activity. Yet while banking was not the cause of this crisis, regulators, politicians and the industry itself have quickly moved [...]
Coronavirus: Sadiq Khan asks for more immigrants to be eligible for Universal Credit March 30, 2020 Sadiq Khan has urged the Prime Minister to allow more immigrants to access Universal Credit during the coronavirus crisis. The London mayor wrote to Boris Johnson yesterday to ask for those with no recourse to public funds (NRPF), such as most non-EU immigrants, to be allowed to claim benefits while the UK is dealing with [...]
Law and accountancy firms weigh coronavirus profit distribution delay March 30, 2020 Law and accountancy firms are weighing up delaying partner profit distributions to preserve cash to ride out the coronavirus-triggered economic crash. It is one strategy being considered among the Big Four accountancy firms and major law firms such as Linklaters and Pinsent Masons. US law firm Reed Smith, which has a sizeable London operation, confirmed [...]
Ocado orders coronavirus testing kits for staff March 30, 2020 Ocado has purchased coronavirus testing kits for its frontline workers, who will also receive a 10 per cent bonus during the pandemic. Employees working on the frontline of the food delivery operation, such as drivers, personal shoppers, drivers, engineers, and site managers will get a bonus on all hours worked from 23 March. The online [...]
