Milestones for ending Libor will be hit by coronavirus, says City watchdog March 25, 2020 The coronavirus pandemic will make it harder for some firms to meet some of the milestones for transitioning away from Libor, the Financial Conduct Authority (FCA) said. Libor, or the London Interbank Offered Rate, is an interest rate benchmark used in contracts worth around £355 trillion globally. The rate was widely discredited after banks were [...]
Government and Bank of England urge banks to keep lending despite coronavirus uncertainty March 25, 2020 British banks must continue to provide loans during the coronavirus pandemic to ensure that previously viable companies do not fail due to the crisis, the government and Bank of England said. In a joint letter to the chief executives of major banks, Chancellor Rishi Sunak, Bank of England governor Andrew Bailey and the interim chief [...]
Researchers launch Covid-19 symptom tracker in the UK March 25, 2020 A symptom tracker app that has been designed to identify the spread of coronavirus has been launched in the UK. The Covid Symptom Tracker asks users to fill in data including age, sex and postcode as well as questions on existing medical conditions. The app is a collaboration between researchers at King’s College London, health [...]
German business morale slumps amid coronavirus outbreak March 25, 2020 German business morale has slumped to its lowest level since 2009, a survey showed today, as the powerhouse of the Eurozone slides towards a coronavirus-induced recession. The final reading of the Ifo Institute think tank’s business climate index fell to 86.1 in March from 96 in February. This was lower than an initial estimate and [...]
There’s one way to get our liberty back: Test, test, test March 25, 2020 Covid-19 has achieved much during its brief reign of terror on this planet thus far. The virus has physically infected people around the globe, showing that humanity is one family after all. Hardly a country in the world stands untouched by its ravages, even if some have been harder hit than others. Such has been [...]
One-third of Tube staff off sick as Underground trains still packed March 25, 2020 Mayor Sadiq Khan has urged more Londoners to stay at home today amid the coronavirus lockdown as he repeated his call for the government to ban construction work in the capital. Khan warned London’s Tube and bus transport network is approaching breaking point, with almost a third of Transport for London (TfL) workers off sick [...]
Over 400,000 volunteer to help NHS tackle coronavirus March 25, 2020 The number of people volunteering to help the NHS tackle the coronavirus pandemic has surged past 400,000, Prime Minister Boris Johnson said. Speaking at Number 10’s daily press conference on the outbreak, Johnson said some 405,000 people had put themselves forward for the scheme within 24 hours of a government appeal. Read more: Coronavirus may [...]
Coronavirus may have infected half of UK population, according to experts March 25, 2020 The coronavirus may have already infected half of the population in the UK, according to researchers at the University of Oxford. The new model suggests the coronavirus was circulating in the UK by mid-January, approximately two weeks before the first reported case and a month before the first death. The study into the infection rate [...]
Credit Suisse cuts ex-boss Thiam’s bonus in wake of spying scandal March 25, 2020 The spying scandal that rocked Credit Suisse cost former chief executive Tidjane Thiam part of his bonus in 2019, with his overall compensation falling 15 per cent to 10.7 million Swiss francs (£9.2m). Thiam quit in February after a bitter boardroom battle with chairman Urs Rohner in the wake of the scandal over surveillance of [...]
Halfords suspends dividend after forecasting a 25 per cent drop in sales March 25, 2020 Halfords has suspended its dividend to shore up its balance sheet after forecasting a 25 per cent drop in sales amid the coronavirus outbreak. The retailer anticipates a sharp drop in sales, of around £300m, following the government’s tightening of restrictions, but shares soared 56 per cent in morning trading before trading up 22.63 per [...]
