SMMT: UK coronavirus crisis wipes out April car sales May 5, 2020 New car sales have tanked 97 per cent amid the UK coronavirus crisis, according to new stats from an industry body today. That effectively means new UK car sales ground to a halt in April, the Society of Motor Manufacturers and Traders said. Just 4,321 cars were sold over the month – 70 per cent [...]
Coronavirus: The human cost is tragic but winners will emerge May 1, 2020 The human toll is heavy, both physically and morally, health systems are pushed to their limit, the number of bankruptcies is increasing, and millions of jobs have been lost. This crisis affects billions of people around the world in what looks like a major recession, the first in twelve years. The scope of the events [...]
Coronavirus: London’s dynamic economy will return May 1, 2020 The Covid-19 pandemic has changed virtually every aspect of the way we live and its awful legacy will be felt for a long time. Above all, the loss of life is clearly the most terrible and important impact – and the reason we must do whatever it takes to reduce and ultimately to prevent transmission. [...]
China is fighting a Cold War. Has the West realised it yet? April 27, 2020 Beneath the endless conferences and diplomatic niceties, at root international diplomacy is always the handmaiden of power politics. As the 16th century English diplomat, Sir Henry Wotten, so aptly put it, an ambassador can be defined as ‘an honest man sent to lie abroad for the good of his country.’ But the eternal contest for [...]
Coronavirus: First Group receives £300m from Bank of England April 24, 2020 Transport operator First Group today announced it had received £300m from the Bank of England to help deal with the financial damage of the coronavirus pandemic. First is currently running its bus services at 40 per cent of normal capacity, although passenger numbers have dropped 90 per cent, the firm said. The company’s rail franchises [...]
UK retail sales ‘obliterated’ in record fall over coronavirus April 24, 2020 UK retail sales plunged by their biggest fall on record in March, official data showed today as retailers counted the cost of the coronavirus lockdown. While food sales surged, overall UK retail sales plummeted 5.1 per cent last month compared to February, according to the Office for National Statistics (ONS). That was much bigger than [...]
Has the black swan left us with white elephants? April 23, 2020 The coronavirus crept up on us, in some ways. It began with a single illness in China in mid-November 2019, a 55-year-old in Hubei province, some records suggest, and it wasn’t until January this year that it became clear that there was an epidemic of this new respiratory disease in the city of Wuhan. In [...]
Coronavirus: UK government borrowing could top £300bn, says think tank April 21, 2020 UK government borrowing could hit £300bn this year as tax receipts collapse and the Treasury pumps money into the economy to tackle the fallout from coronavirus, according to a new report. The £300bn figure, produced today by the Centre for Policy Studies (CPS) think tank, would be by far the biggest budget deficit since World [...]
Coronavirus: Here comes the startup chancellor April 20, 2020 Startups are the economy’s ‘department for the future.’ Their job is to future-proof all the other sectors – from retail and banking through ecommerce to public services. They are vital to the UK’s post-Brexit, post-Covid-19 future. They are also among its most vulnerable. Look up ‘start-up’ in the Cambridge Dictionary and the first example of [...]
Coronavirus hits hospitality: Loan scheme leaves restaurants high and dry April 19, 2020 Ranald MacDonald is Managing Director of Boisdale’s Restaurants In newspapers, so I’m told, a cracking story is known as a “marmalade dropper,” so named because it stops you – and indeed your toast – in your tracks. And that’s exactly what Rishi Sunak’s announcement of a £330bn rescue package for British business to get through [...]