Coronavirus: ‘Zero prospect’ of ban on travel in and out of London, says Downing Street March 19, 2020 Downing Street has said there is “zero prospect” of a ban on travel in and out of London, as part of efforts to slow the spread of coronavirus. This morning Transport for London confirmed it was shutting 40 Tube stations. It will also stop Night Tube operations and close the Waterloo & City Line from [...]
Sadiq Khan and Boris Johnson to discuss London coronavirus measures March 19, 2020 Sadiq Khan will meet with Boris Johnson this afternoon to discuss London’s next stage of quarantine measures as the government’s response to coronavirus intensifies. Speculation was rife yesterday that the government would soon implement a London lockdown, keeping only essential health services, supermarkets and pharmacies open. City A.M. reported today that this could include a [...]
Coronavirus: Lloyd’s of London to close underwriting room from today March 19, 2020 Insurance market Lloyd’s of London is to close its underwriting room from 4pm today because of the coronavirus crisis. Last Friday it closed its underwriting room, which is at the heart of its Lime Street headquarters, to simulate a shutdown and test its contingency systems. Lloyd’s has been trying to push the market to move [...]
Economists: Germany must act as it ‘speeds’ towards coronavirus recession March 19, 2020 Germany, the European Union and the European Central Bank (ECB) must work together to take “massive and targeted” measures to prevent an economic collapse in the face of coronavirus, one of the country’s top think tanks has said. The Ifo Institute warned the German economy could shrink by a massive six per cent in 2020 [...]
Government measures will shore up British banks’ creditworthiness, says Moody’s March 19, 2020 Measures introduced by the Bank of England and Treasury to support the UK economy as it grapples with the coronavirus pandemic will support British banks’ creditworthiness, according to ratings agency Moody’s. On Tuesday, Chancellor Rishi Sunak announced a financial support package including up to £330m of loan guarantees, equivalent to 15 per cent of GDP, [...]
EU chief Brexit negotiator Michel Barnier tests positive for coronavirus March 19, 2020 The European Union’s chief Brexit negotiator Michel Barnier said today he has tested positive for coronavirus. Barnier, a former French foreign affairs minister, has been the European Commission’s chief negotiator with the UK throughout the Brexit process. Today, Barnier tweeted that he had tested positive for novel coronavirus Covid-19. “I would like to inform you [...]
Twitter bans misleading information in coronavirus crackdown March 19, 2020 Twitter has banned users from posting misleading material about the coronavirus outbreak as it ramps up its crackdown on misinformation. In a blog post published last night, the social media firm said it would broaden its definition of harmful content to include anything that contradicts guidance from authoritative sources of global and local public health [...]
Thomas Cook: Taxpayers will pay for next tour firm collapse, says watchdog March 19, 2020 The collapse of Thomas Cook has left the government’s tourism industry fund severely depleted, meaning taxpayers would have to foot the bill if another tour operator falls into insolvency. Thomas Cook’s shock insolvency and the subsequent repatriation of thousands of customers cost the government at least £156m, according to the National Audit Office (NAO). The [...]
Ocado sales double as demand soars amid coronavirus panic March 19, 2020 Online supermarket Ocado has reported a jump in sales as demand for home delivery soars amid the coronavirus crisis. Ocado said sales had doubled in the second quarter compared to the previous period as shoppers made bigger and more frequent orders as they stockpiled goods. The grocer was forced to close its website and app [...]
Credit Suisse quarterly profit rises despite coronavirus turmoil March 19, 2020 Credit Suisse said it was on course to deliver strong results for the first quarter despite market volatility related to the coronavirus pandemic. In a trading update released this morning, the Swiss banking giant said profits for the quarter would comfortably beat the 1.06bn Swiss Francs (£940m) it reported before tax for the first quarter [...]
