Insurer Hastings’ shares surge as it agrees to £1.66bn takeover August 5, 2020 Insurer Hastings’ share price surged this morning after agreeing a £1.66bn takeover by Finland’s Sampo and South Africa’s Rand Merchant Investment. The cash offer will hand Hastings investors 250p per share as well as an interim dividend of 4.5p per share. That sent Hastings’ shares soaring 17 per cent higher to 253p in early trading. [...]
The City View: Tony Matharu on why it’s time to get London moving again August 5, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian is joined by top hotelier and London businessman Tony Matharu, who believes the capital needs an injection of confidence to get people back on public transport, back in the office and back into the pubs, restaurants, shops and hotels. Also in this episode, Christian looks [...]
Could the bounce-back be quashed by a second wave? August 4, 2020 With some countries fearing a second wave of Covid-19 cases, Schroders’ chief economist Keith Wade considers whether a bounce back in the economy could be quashed. While there are hopes that the easing of lockdowns and reopening of businesses are beginning to give life to the global economy, fears of second waves of infections are [...]
BoA: Bank of England to cut interest rates to zero in November August 4, 2020 The BoE is likely to pursue a package of interest rate cuts and quantitative easing in November amid the pandemic and threat of a no-deal Brexit, according to the Bank of America. The Bank will reduce the rate to zero and could go negative if necessary, Bank of America economists predicted in a report today. [...]
Covid-19 shone a spotlight on hidden abuse — now we cannot afford to stop fighting August 4, 2020 The Covid-19 crisis has thrown the issue of domestic abuse into sharp focus. The sudden shift to working from home as offices closed meant that many victims were unable to access what is often their only safe space: the workplace. With those at risk suddenly forced to remain at home with their abusers during lockdown, [...]
Former BoE governor Sir Mervyn King warns that increasing QE would be ‘premature’ August 3, 2020 The former Governor of the Bank of England has warned that it would be premature for the UK’s central bank to expand the quantitative easing scheme too early, saying such a step would be premature. Speaking to the Coronanomics podcast, King, who held the top job at the Old Lady of Threadneedle Street during the [...]
London’s bowling alleys, comedy clubs and arts venues slam fresh lockdown as life-threatening July 31, 2020 London venues have slammed the Prime Minister’s decision to U-turn on plans to reopen tomorrow as “pulling the rug out” from underneath them. In a press conference today, Boris Johnson said plans to reopen venues tomorrow will be pushed back until at least 15 August, following a sharp spike in coronavirus infections. Night clubs, casinos, [...]
British Airways owner IAG seeks €2.75bn raise after €3.8bn loss July 31, 2020 British Airways owner International Consolidated Airlines (IAG) today confirmed it will seek to raise a huge €2.75bn (£2.49bn) to act as a coronavirus buffer. Major 25 per cent shareholder Qatar Airways has committed to participating in the raise, and will get two non-exec board members in exchange for its support. IAG said the cash will [...]
Natwest sinks to a loss as it sets aside £2.9bn for bad loans July 31, 2020 Natwest sunk to a pre-tax loss of £770m in the first half of the year as it set aside billions of pounds in anticipation of loans turning sour due to the coronavirus pandemic. The banking group – known as RBS until earlier this month – took a hit of £2.86bn in the first half to [...]
Liberal Democrats leadership race: The long road to relevance July 30, 2020 For the second consecutive summer, Liberal Democrat members will be dragged to the polls to vote in a leadership election. While last year’s contest had a palpable feeling of optimism and excitement for many members, this year’s affair will likely represent the most abject contrast. The Liberal Democrats had surged to an unlikely lead in [...]