Coronavirus: FTSE 100 rises as Fed buys bonds and UK enters lockdown March 24, 2020 The FTSE 100 rebounded sharply today after the government imposed a UK coronavirus lockdown and the US Federal Reserve announced an unlimited bond-buying spree yesterday. Britain’s blue-chip stock index jumped 4.3 per cent higher in morning trading to climb back above 5,000 points to 5,206. The FTSE 100’s rise made up for the 3.7 per [...]
Stockpiling: Shoppers buying ‘a few extra items’ driving shelf shortages March 23, 2020 Empty supermarket shelves have been caused by customers adding an extra few items to their baskets and making more trips rather than stockpiling, according to the latest data. The average spend per supermarket trip jumped 16 per cent in the week ending 17 March to £22.13 compared to the same week a month ago. Meanwhile, [...]
Uber shares surge by almost 40 per cent after torrid week March 19, 2020 Uber’s stock price has surged by nearly 40 per cent today, after its chief executive said the company would have billions in cash at the end of the year even in the worst case scenarios. Dara Khosrowshahi told analysts today that the ride-sharing app would have $4bn in cash at the end of 2020, and [...]
British startups slam competition watchdog over ‘power grab’ March 19, 2020 British startups have accused the competition watchdog of mounting an “old-fashioned power grab” after it called for beefed up powers to crack down on tech firms. In its annual report published today, the Competition and Markets Authority (CMA) said there was evidence of “growing market concentration and rising profit margins” in several sectors of the [...]
Supermarket sweep: Spending data reveals shopper stockpiling and collapse in holiday bookings March 19, 2020 Brits are stocking up on essentials and holding off on booking holidays as the coronavirus pandemic sweeps the country, but they aren’t yet splashing the cash on takeaways, according to data from Starling Bank. The digital bank said customer spending at supermarkets was soaring to levels typically seen at Christmas, with warehouse outlet Costco entering [...]
Home workout: Easy ways to stay in shape amid Covid-19 March 18, 2020 What a crazy few weeks it’s been. The City is quieter than I’ve ever seen it – it’s like a ghost town out there. Few of us have ever experienced this kind of mass uncertainty, and that makes it more important than ever to look after ourselves. Thankfully, although we might be locked inside, there [...]
Sterling falls to six-month low as UK tightens virus measures March 17, 2020 Sterling dropped to its lowest level against the dollar in roughly six months today as the UK ramped up its measures to halt the spread of coronavirus. The pound fell as much as 0.6 per cent to $1.219 this morning — its lowest level since early September. Against the euro it edged up 0.2 per [...]
Coronavirus measures to have ‘devastating’ impact on UK hospitality sector March 16, 2020 The UK’s pubs and restaurants have called on the government to offer urgent financial help after Boris Johnson advised people to avoid social gatherings, in what could be a death knell for London’s pubs, restaurants and leisure businesses. The prime minister urged the public to practice “social distancing” by staying at home rather than eating [...]
St Patrick’s Day: London celebrations canned due to coronavirus March 13, 2020 London’s St Patrick’s Day parade has been cancelled after performers dropped out due to mounting fears over the outbreak of coronavirus. Mayor of London Sadiq Khan said this morning that key performers were no longer able to take part in the annual Irish celebration. Khan said he was “incredibly disappointed” that the parade – which [...]
Coronavirus: Just Eat and Deliveroo offer contactless delivery March 13, 2020 Food delivery services have launched contactless delivery options to prevent the spread of coronavirus. Takeaway.com, the Dutch company that recently bought Just Eat, and Deliveroo have both committed to providing deliveries without physical contact. Takeaway said the measure is applicable to all restaurants on its platform throughout Europe. Drivers are being instructed to ring the [...]