Travelex set for restructuring after auction process halted June 12, 2020 Debt investors in embattled foreign exchange provider Travelex are pushing the firm’s banks to negotiate a restructuring deal. Sky News reported that after an auction process stalled, bondholders represented by investment bank PJT Partners are pushing banks including Barclays and Goldman Sachs to enter negotiations. Travelex’s banks are owed about £90m by the company, while [...]
Seven drivers of growth: Unlocking potential and growing your business in turbulent times June 11, 2020 In a world disrupted by the COVID-19 pandemic, lockdown and a looming recession it may be hard to focus on growth. But analysing the exciting possibilities of a business for long-term success is a necessary, if difficult, challenge on the road back to the new normal and will require leaders to think differently about their [...]
UK lockdown: Zoos and drive-in cinemas could reopen from 15 June June 10, 2020 Prime Minister Boris Johnson is today expected to outline which sectors of the UK economy will reopen after lockdown on 15 June, such as zoos and drive-in cinemas. The UK is slowly reopening its economy after it entered lockdown on 23 March, leading to the widespread closure of restaurants, pubs, gyms, cafes and most shops [...]
Retailers get ready to reopen – but shoppers may be too scared to visit June 10, 2020 Shops across the country may be preparing to finally reopen their doors next week, but fears are growing that the British public will be too anxious to actually visit them after spending months under coronavirus lockdown. Those concerns have today been laid bare in a survey of more than 1,000 consumers, which suggested many people [...]
Government unveils pandemic support package for struggling tech firms June 9, 2020 International trade secretary Liz Truss will on Wednesday unveil a package of measures designed to help bolster the UK’s tech community, as businesses continue to struggle during the coronavirus pandemic. Jointly supported by the Department for International Trade (DIT) and the Department for Digital, Culture, Media and Sport (DCMS), the measures are aimed at helping [...]
Five questions mid-market businesses need to ask about risk management today June 9, 2020 In this article, I consider the five key questions a mid-market business should ask themselves when it comes to risk management in the current environment. Are you clear about the key risks facing your business? If recent months have taught business leaders anything, it should be that to survive – let alone thrive – in [...]
Small businesses could fail to pay back coronavirus loans, BoE governor warned June 7, 2020 The Bank of England governor Andrew Bailey has been warned that £36bn of emergency coronavirus loans to small businesses risk turning toxic. A report by industry body TheCityUK’s Recapitalisation Group that will be published tomorrow warns of “unsustainable” debts which could impede recovery. The report, chaired by Aviva chairman Sir Adrian Montague and supported by [...]
UK house prices drop for third month running as coronavirus bites June 5, 2020 UK house prices fell for the third month in a row in May as coronavirus continued to plague the property market, according to a closely watched gauge. However, the drop slowed compared to April. Prices fell 0.2 per cent month on month in May, the Halifax house price index showed. This compared with a 0.6 [...]
BoE’s Andrew Bailey tells UK banks to up preparations for no-deal Brexit June 3, 2020 Bank of England governor Andrew Bailey has reportedly told UK banks to ramp up their preparations for a no-deal Brexit as the UK sticks to its target to strike a deal before the end of the year. Bailey told British lenders to accelerate their planning for a no-deal Brexit scenario in a call yesterday, according [...]
Coronavirus will increase investors’ appetite for sustainable strategies – and accelerate major changes in the way capital is allocated June 2, 2020 The relative resilience of ESG strategies through the recent market rout could mark a watershed moment for sustainable investment. Fleeting trends are usually the first to be abandoned in the heart of the storm. This simply hasn’t happened with ESG strategies. In fact, quite the opposite, with many funds charting inflows through Q1 2020. Cynics [...]