BoE governor Andrew Bailey: Don’t sack workers due to coronavirus slowdown March 18, 2020 The new Bank of England governor Andrew Bailey has said companies thinking about laying off workers should first consider the support the government and Threadneedle Street has made available to them during the coronavirus outbreak. Bailey also said he would not rule out any steps for the Bank of England at this stage, leaving the [...]
Micro Focus will not pay dividend this year due to coronavirus crisis March 18, 2020 IT firm Micro Focus will not pay a final year dividend in response to coronavirus. “While there has been no material impact on Micro Focus’ business to date, the ultimate impact on the global economy is unknown,” it said. The company has endured turmoil recently after its chairman stepped down in February due to a [...]
Coronavirus: BBC overhauls broadcast plans to tackle outbreak March 18, 2020 The BBC today unveiled a raft of new measures aimed at keeping the public informed during the “unprecedented” coronavirus outbreak. Director general Tony Hall said the public service broadcaster would launch special programming on TV and radio to provide audiences with the latest information on the Covid-19 pandemic. As part of the wide-ranging changes, the [...]
Coronavirus: Ryanair to ground ‘most if not all’ flights next week March 18, 2020 Ryanair has said that it will ground the vast majority of its flights from next Tuesday, only maintaining essential services between the UK and Ireland, in light of widespread coronavirus travel bans. In a statement, the budget carrier said that “most if not all Ryanair Group flights will be grounded” as passenger demand collapses due [...]
Seven firms suspend UK property funds as virus casts uncertainty over assets March 18, 2020 Aberdeen Standard Investments and BMO have joined five other firms who have suspended their property funds after independent valuers introduced material valuation uncertainty clauses due to the coronavirus outbreak. The UK commercial property market is facing unprecedented challenges brought on by the pandemic. Valuation firms are now saying that they can no longer make reliable [...]
Coronavirus: B&Q owner Kingfisher to negotiate rent payment terms March 18, 2020 B&Q owner Kingfisher is preparing to negotiate its rent payment system with landlords as it tries to save cash amid the coronavirus crisis. Kingfisher, which also owns Screwfix Direct, will ask to pay rents across its 950 UK stores on a monthly basis, rather than each quarter, Sky News reported. Retailers are increasingly facing cash [...]
Johanna Kyrklund: Are opportunities beginning to emerge? March 18, 2020 After the dramatic market falls of the last few weeks, valuations are looking more appealing. But the risk of a prolonged recession means investors should remain cautious. Last week I said valuations are still not cheap enough to warrant taking more risk. After the large falls we’ve seen this week, is this starting to change? Part of [...]
Coronavirus: Government to lift financial assistance rules for struggling airlines March 18, 2020 The government will use emergency legislation to ensure that airlines and other industries that have been hit hardest by the coronavirus epidemic receive the support they need to survive. According to the Times, ministers will use the legislation to lift restrictions on the amount of financial support that businesses can be given. At the moment, [...]
Coronavirus: BBC suspends Eastenders filming March 18, 2020 The BBC has suspended filming on Eastenders until further notice due to the coronavirus outbreak. Soap rivals Casualty and Holby City will also be on hold as the broadcaster shuts down its production arm. “In light of the spread of Covid-19, after much consideration, it has been decided that filming on Eastenders will be postponed [...]
Barristers push for suspension of jury trials during coronavirus outbreak March 18, 2020 Barristers have continued to push the government to suspend jury trials amid risks to the health of court users and jurors during the coronavirus outbreak. Late last night the head of the judiciary said that all jury trials longer than three days would be suspended. The Lord Chancellor Robert Buckland today reinforced last night’s decision, [...]
