UK sticks to December 2020 Brexit deadline despite coronavirus April 6, 2020 The UK government has said it remains “absolutely committed” to Brexit negotiations and the December 2020 transition date despite the coronavirus outbreak limiting talks between the two sides. The UK and EU have until the end of this year to thrash out a comprehensive free-trade agreement. Keen to deliver on his “get Brexit done” election [...]
Imagination Technologies boss poised to quit over China Reform raid April 6, 2020 The boss of Imagination Technologies is reportedly on the brink of resigning as a state-owned Chinese company attempts to seize control of the board. Chief executive Ron Black, who has run the firm since December 2018, has signalled his intention to quit in protest at China Reform’s move to appoint four new directors, according to [...]
Invesco and Woodford protege Mark Barnett sacked by Perpetual Income and Growth April 6, 2020 Perpetual Income and Growth Investment Trust has sacked Invesco fund manager Mark Barnett for underperformance, ending months of uncertainty. Barnett, one of Neil Woodford’s former proteges, had run the trust for more than two decades. It is a further blow to the manager who was also sacked by Edinburgh Investment Trust at the end of [...]
Coronavirus: UK house prices growth ‘grinding to a halt’ April 2, 2020 UK house prices rose three per cent last month just before the coronavirus outbreak hit, according to Nationwide figures released today. But the bank warned housing market activity is “grinding to a halt” as the coronavirus lockdown stops buyers and sellers from viewing properties. Banks have also withdrawn mortgages or made it tougher to secure [...]
Bank junction to be used as drone taxi landing zone April 1, 2020 The City of London Corporation is preparing to designate the newly pedestrianised Bank junction as a drone taxi landing zone, City A.M. can reveal. Taxi drones could be zipping through the skies of the capital as soon as the summer after ministers backed a plan to prioritise new regulations allowing passenger transit on autonomous flying [...]
M&G’s flagship bond fund faces £100m daily outflows March 30, 2020 M&G’s flagship bond has become the latest casualty of the coronavirus-induced market sell-off, as investors pull £100m a day from the fund. Investors have pulled £2.5bn from M&G Optimal Income since mid-February, according to the Financial Times, as the coronavirus outbreak pushed investors towards the safety of cash. M&G, which is run by Richard Woolnough, [...]
Coronavirus: More than half of Brits expect a recession March 30, 2020 More than half of Britons now expect the economy to tumble into recession within a year due to the coronavirus outbreak, a poll has shown, with pessimism about household finances rising at the fastest rate on record. Pollsters Yougov said 52 per cent of people in the UK think the economy will be in recession [...]
Coronavirus: Employees can defer annual leave for two years, says business secretary March 28, 2020 Employees unable to take all their annual leave this year due to the coronavirus pandemic will be allowed to carry it over for two years, the business secretary announced today. Alok Sharma, standing in for self-isolating Prime Minister Boris Johnson at the government’s daily briefing, said the government had introduced new measures to facilitate this. [...]
Coronavirus UK: Death toll passes 1,000 after biggest daily increase March 28, 2020 The number of people to have died in the UK after testing positive for coronavirus has reached 1,019 – passing the 1,000 mark for the first time. It comes after a further 260 people were confirmed to have died today by the department of health, in the UK’s biggest daily increase. The vast majority of [...]
UK credit rating downgraded due to coronavirus impact and Brexit uncertainty March 28, 2020 The UK’s credit rating has been downgraded to AA- from AA due to the budget impact of the coronavirus outbreak and Brexit uncertainty. Credit rating agency Fitch has forecast that the UK’s economic output would drop by almost four per cent for the year. It said it had concerns about the UK’s “fiscal loosening stance” [...]