Coronavirus: Government poised to impose London-only restrictions March 18, 2020 Boris Johnson has indicated that Londoners should brace themselves for capital-specific restrictions, in the hope of flattening the curve of the coronavirus outbreak. Multiple sources have said measures including restricting travel and shutting all but essential shops and services in line with measures seen in other European capitals, could be brought in as early as [...]
The Novelty of the Coronavirus: What it means for Markets March 18, 2020 Does market history offer any parallels to today’s novel coronavirus crisis? Market action in recent weeks has been reminiscent of the global financial crisis (GFC) of 2007–2009, the crash of 1987, and, for those with a long memory, the crash of 1929, which wouldn’t have been so disastrous if it had not been followed by [...]
IR35: Businesses welcome delay, but many have already cut contractors March 18, 2020 Businesses may have welcomed the delay of the IR35 reforms but some have already laid off contractors and abandoned projects in anticipation of the changes. Last night, chief treasury secretary Steve Barclay announced that the tax reforms would be pushed back by one year, less than a week after the measures were confirmed in the [...]
Italian luxury brand Prada warns over coronavirus impact on sales March 18, 2020 Luxury fashion house Prada said today that all of its efforts will be directed to overcoming the financial damage done by coronavirus. Prada reported strong growth in the year to the end of January, but said the outbreak “interrupted [its] growth trajectory”. The Italian designer brand said today that it expects the epidemic to have [...]
Coronavirus: NHS confirms 32 more deaths in UK March 18, 2020 The NHS has confirmed that there have 32 more deaths from coronavirus, taking the total death toll in the UK to 104. Earlier the Department of Health has confirmed that there have now been 2,626 coronavirus cases in the UK, up from 1,950 cases yesterday. It is the biggest daily surge of confirmed cases yet, [...]
Jude Bellingham transfer: The rules Manchester United and their competitors will have to negotiate to sign Birmingham’s star midfielder March 18, 2020 Like everything in sport right now, Jude Bellingham’s future is on hold. But the coronavirus pandemic has only delayed what now feels inevitable: that Birmingham City’s most prized asset will be flying the coop. Bellingham is just 16 and only made his professional debut in August, but his performances for Birmingham have set the scouting [...]
How are the banks battling coronavirus? March 18, 2020 As countries ramp up efforts to control the pandemic, the economic impact of Covid-19 is having an impact on currency values by creating a significant amount of market volatility. Typically when businesses are faced with large-scale uncertainty, the pound is volatile and the current situation with Covid-19 is adding pressure to currencies, including sterling. The [...]
Pennon sells waste business Viridor to private equity firm KKR in £4.2bn deal March 18, 2020 FTSE 250 utility company Pennon said today it has agreed to sell waste business Viridor to private equity firm KKR in a £4.2bn deal. The sale represents an enterprise value of £4.2bn on a cash-free, debt-free basis at an earnings multiple of 18.5x. KKR made an unsuccessful bid for Viridor late last year in an [...]
Coronavirus: BMW gives profit warning as carmaker shuts factories March 18, 2020 German auto giant BMW has warned that vehicle deliveries and profit will both fall this year due to the impact of coronavirus as it prepares to suspend production at its plants in Rosslyn, Europe and South Africa. The carmaker said it was taking the steps both as a precaution against its employees getting infected and [...]
Coronavirus: UK cases rise by over 600 to reach 2,626 March 18, 2020 The Department of Health has confirmed that there have now been 2,626 coronavirus cases in the UK, up from 1,950 cases yesterday. It is the biggest daily surge of confirmed cases yet, as the government prepares for a surge in cases. The government said it had now tested 53,595 people for Covid-19. On Twitter the [...]
