Coronavirus: A traffic light loosening gives the economy hope April 8, 2020 The strategy of exiting from the lockdown is far too important to be left in the hands of health professionals. The government’s advisors have played very valuable roles in helping to avert the sort of crisis which overwhelmed the health services in Northern Italy. Many who were seriously ill with the virus died unnecessarily because [...]
Coronavirus: The government must outline the way forward April 8, 2020 It is said that it is always darkest before dawn. And with our nation in the grip of the Coronavirus crisis – with the economy sinking, civil liberties restricted, and the peak of infections and deaths approaching – it certainly appears to be a particularly baleful moment for the UK. But rather than dwelling on [...]
Asos shares soar as retailer orders £200m equity raise April 7, 2020 Shares in Asos rose by a third today after the fashion retailer announced a bumper share sale in a bid to shore up its finances during the coronavirus crisis. Asos unveiled plans for a placing of up to 18.8 per cent of issued share capital to protect against a “prolonged downturn” caused by the pandemic. [...]
Wellcome Trust urges firms to donate £6bn to medical coronavirus fight April 7, 2020 Health research charity the Wellcome Trust has urged big businesses to donate £6.4bn ($8bn) to fund treatments, testing and vaccine development to fight coronavirus. Coronavirus has now infected more than 1.3m people around the world and killed more than 74,000. The World Health Organization has urged countries to ramp up testing. Countries are scrambling to [...]
What is ‘fake’ and what is ‘real’ in financial markets? April 1, 2020 I re-watched the Orson Welles docudrama ‘F for Fake’ the other day. The 1973 film is an exploration of what is fake and what is real in the art world. I was curious to see how it held up in the age of fake news. Well, the movie doesn’t have much to say about fake news, but it does [...]
Minimum wage hike to go ahead despite coronavirus pressure on businesses March 31, 2020 The UK minimum wage is set to rise tomorrow as planned despite calls for the government to postpone the increase due to the coronavirus outbreak. The National Minimum Wage will increase 6.2 per cent from £8.21 to £8.72 per hour from 1 April, despite the economic challenges caused by the coronavirus pandemic. However, two thinktanks [...]
Competitive sectors face the hardest hit from coronavirus March 31, 2020 The package of economic support offered by the Treasury — from a standing start — is one of the most impressive among any western country. But the cascading consequences of the coronavirus crisis mean that there are all kinds of areas where the pleas for help continue to come. Small businesses, for example, are the [...]
Extending the lockdown could have deadly consequences March 29, 2020 A week into what began as a three-week lockdown, the goalposts have been moved. Government ministers and health officials spent the weekend recalibrating expectations, making it clear that people must be prepared for these unprecedented measures to last into June, perhaps longer. The message from the government is that the measures cannot be lifted until [...]
Unemployment to double as coronavirus cripples the economy March 29, 2020 Unemployment in the UK is set to double in the next few months and economists are bracing for the coronavirus outbreak to hit harder than the financial crisis. Despite the government’s attempts to incentivise employers to keep staff on, investment bank Nomura predicts the effect of the pandemic will hit “multiple times that of the [...]
Climate activists: Prepare to win the peace after the coronavirus war March 27, 2020 Winston Churchill may have won the war, but Clement Attlee won the peace. The pill that Churchill swallowed was bittered by the fact that his victory had paved the way for Attlee’s. Without the spirit forged by the collective efforts of wartime, there would have been little appetite to build Attlee’s welfare state when peace [...]