Number of UK coronavirus cases record biggest daily jump to 590 March 12, 2020 The number of confirmed cases of coronavirus in the UK has jumped from 456 to 590, marking the biggest daily increase. Two more people have died in London after testing positive for coronavirus, bringing the death toll to 10. A patient in their 80s died at Charing Cross Hospital, while a woman in her sixties [...]
ECB to let eurozone banks breach key requirements due to coronavirus March 12, 2020 The European Central Bank said that eurozone banks will be allowed to fall short of some key capital and cash requirements as lenders grapple with the economic shock of the coronavirus pandemic. The announcement came soon after ECB monetary policymakers announced a new stimulus package, marking an unprecedented synchronised action by the central bank’s two [...]
EY appoints audit chief to run UK and Ireland business March 12, 2020 EY has picked its audit chief to run its UK business, continuing the Big Four’s woeful record of senior female leadership. Hywel Ball, who has been with the firm for 35 years, was today appointed as UK and Ireland managing partner from 1 July, succeeding Steve Varley. Ball’s selection over potential female candidates continues the [...]
BBC could take pensioners to court over licence fee evasion March 12, 2020 Pensioners could be hauled in front of a judge amid an ongoing row over payment of the BBC licence fee, the broadcaster’s director general has said. Lord Tony Hall today admitted that some people in their 80s and 90s could be taken to court if they fail to pay the £157.50 charge. Speaking during a [...]
2020 Budget: ‘Borrowing to skyrocket’ despite £7bn tax bill March 12, 2020 Chancellor Rishi Sunak is unlikely to be able to deliver the huge spending growth he promised in his 2020 Budget given that his pledges were not supported by tax increases, Britain’s top fiscal think tank has said. Sunak yesterday unveiled the biggest Budget since 1992 as he seeks to tackle the fallout from coronavirus and [...]
Coronavirus: US travel ban decimates airline stocks March 12, 2020 President Donald Trump’s travel ban on European citizens entering the US due to coronavirus fears sent airline stocks to new lows today after weeks of pressure on the sector. Recent FTSE 100 dropout Tui led the falls, posting a 10.4 per cent decline by the mid-morning, while British Airways owner IAG was not far behind, [...]
Lloyd’s of London announces coronavirus shutdown simulation March 12, 2020 Insurance market Lloyd’s of London said it will close its underwriting room at its London headquarters tomorrow to simulate a coronavirus shutdown. Lloyd’s said it will “test the resilience of the market” by closing the underwriting room at One Lime Street for 24 hours to test “alternative trading protocols”. The room will be closed from [...]
Bank of England weighs pros and cons of central bank digital currencies March 12, 2020 The Bank of England has asked for people’s views on the creation of a central bank digital currency (CBDC) as it weighs the pros and cons of launching its own. Governor Mark Carney said in a discussion paper published today that although “the creation of a CBDC poses a number of opportunities, it could raise [...]
Moss Bros to be taken private in £22.6m deal March 12, 2020 Suit retailer Moss Bros is on the brink of being taken private after the owners of Crew Clothing offered to buy it in a deal worth £22.6m. Brigadier Acquisition Company offered to buy the high street chain for 22p per share, a premium of 60 per cent on yesterday’s closing price. Crew Clothing owner Menoshi [...]
Coronavirus: Sadiq Khan says closing Tube could make spread worse March 12, 2020 Sadiq Khan has said that closing schools and shutting down the Tube could make the spread of coronavirus worse. Independent mayoral candidate Rory Stewart has been leading calls for the government and Khan to be more aggressive in their response against Covid-19. In particular, he has called for schools to be shut down, public gatherings [...]
