Facebook warns ad business weakened by coronavirus crisis March 24, 2020 Facebook has reported a “weakening” of its advertising business during the coronavirus crisis, despite a surge in people using its services. The social media giant said this evening that in countries taking “aggressive actions” to reduce the spread of the virus, its ads business has been “adversely affected”. However, in the countries hit hardest by [...]
US stocks jump on hopes of coronavirus stimulus package March 24, 2020 US stocks soared this evening on hopes that congress was close to agreeing a $2 trillion stimulus package to protect the economy from the impact of the coronavirus pandemic. Wall Street’s S&P 500 index closed 9.3 per cent higher today, while the Dow Jones industrial average soared 11.37 per cent – its biggest one day [...]
Coronavirus: UK grocery sales soar £470m due to panic buying March 24, 2020 Grocery sales at UK supermarkets soared by £467m as customers stockpiled amid escalating fears over the spread of coronavirus in the UK, according to the latest research. Food sales jumped 22 per cent year-on-year in the week ending 14 March driven by an increase in essential household items and long lasting foods. Supermarkets were forced [...]
Oil prices stage brief rise thanks to Fed coronavirus action March 24, 2020 Oil prices rallied today after a torrid day yesterday. Brent crude was up to almost $28 a barrel and WTI crude futures is at $23, a four per cent rise on yesterday. This has been attributed to pledge from the Federal Banking Reserve to dramatically increase support for US business, although the US Senate could [...]
The gender pay reporting rules have been waived due to coronavirus March 24, 2020 The annual reporting of gender pay gaps at UK businesses will not be required this year. The Equality and Human Rights Commission and Government Equality Office made the announcement as the country comes to terms with unprecedented restrictions to combat coronavirus. Last night, the Prime Minister announced wide ranging restrictions on social interaction to prevent [...]
COVID-19: The first test for purposeful business? March 24, 2020 There has been continued debate on the role of business in society, with many businesses keen to highlight their broader social contribution beyond their primary focus of generating profits for their shareholders. Coronavirus will cause the most significant disruption to the UK economy since the Second World War. It will affect businesses across numerous sectors, [...]
In the brave new world, information is king March 24, 2020 Since the coronavirus pandemic struck us a fortnight ago – and that’s all it is since the World Health Organisation called it, two weeks – almost every conversation I’ve had with friends, colleagues, peers and connections has come round to the same thing: as business leaders, entrepreneurs, C-suite executives and board directors, how do we [...]
Australian authorities investigating Qantas over Virgin claims March 24, 2020 Australian competition authorities are investigating claims from Virgin Australia that rival carrier Qantas has been briefing the media that it is not financially viable and should be excluded from any state bailout of the struggling sector. The Financial Times reported that Virgin has sent a letter to Australian Competition and Consumer Commission (ACCC) chairman Rod [...]
Formula One will consider extending 2020 season into 2021 to fit at least 15 races in March 24, 2020 Formula One bosses will consider extending the 2020 season into 2021 in a bid to fit as many races as possible into the season. A new-look calendar is currently being worked on that will see races scheduled for the August summer break and through into December — or possibly even January — City A.M. understands. [...]
Construction on 22 Bishopsgate stops due to coronavirus March 24, 2020 Construction workers on the site of upcoming City skyscraper 22 Bishopsgate have downed tools today in response to the latest coronavirus restrictions. Multiplex, the contractor building the new Square Mile high rise, shut all its work sites today, after Boris Johnson implemented an effective three-week lockdown last night. The government said open air construction could [...]
