New wage subsidy scheme does not go far enough, warns hospitality industry September 24, 2020 The embattled UK hospitality sector has given chancellor Rishi Sunak’s latest job retention scheme a lukewarm reception, saying the new wage subsidy does not go far enough. UK Hospitality, a lobby group representing British pubs, clubs, restaurants and bars, said it wanted industry-specific help. Boss Kate Nicholls said she wanted the government to pick up [...]
Daily coronavirus cases hit highest level since 1 May September 23, 2020 There were 6,178 new confirmed cases of coronavirus in the UK today, the highest figure since 1 May, government data showed. The new figure is roughly a quarter higher than yesterday, when there were 4,926 cases, the Department of Health and Social Care said. There were also 37 new deaths from the disease, which is [...]
The “homebody economy” – investing in your digital back yard September 23, 2020 It is clear that UK shares are unloved. No likes, no shares, no new friend requests. The level of gloom surrounding this market is remarkable even amongst UK based investors, who, you might think, should feel more comfortable investing here. This is not just pandemic queasiness. Although the UK economy is service-led to some extent, [...]
Bank and government support to UK firms tops £100bn September 22, 2020 Struggling UK companies have now received more than £100bn worth of support from banks and the government through various coronavirus stimulus schemes, official figures have shown. UK banks have lent out more than £58bn to hard-hit companies through the government-backed coronavirus loan schemes, according to Treasury figures out today. HMRC figures showed that companies have [...]
Pubs to shut at 10pm under new restrictions September 21, 2020 Boris Johnson will tomorrow announce that pubs in England will have to shut at 10pm in an attempt to limit the spread of coronavirus, it was reported this afternoon. The new restrictions are set to be introduced amid warnings that there could be as many as 50,000 cases a day in the UK by mid [...]
Restaurant sales buoyed by Eat Out to Help Out legacy September 18, 2020 Restaurants continued to enjoy some of the benefits of the Eat Out to Help Out scheme this month as customers felt more comfortable going out for a meal. Diners spent 14 per cent more in restaurants in the first week of September than they did the same week last year after August’s discount scheme gave [...]
FTSE 100 falls but US stocks rise ahead of Fed decision September 16, 2020 The FTSE 100 fell but US stocks opened higher as investors awaited the latest decision from the US Federal Reserve and digested more economic data. London’s main stock index dropped 0.6 per cent to stand at 6,067 points just before 3pm. The FTSE 250 of mid-cap companies fell 0.1 per cent. Read more: UK inflation [...]
Average inflation targeting: what is it and what does it mean for investors? September 15, 2020 Late-August saw the Federal Reserve (Fed) hold its keenly-watched annual Jackson Hole Economic Policy Symposium. Against a backdrop of the huge global uncertainty engendered by Covid-19, the focus on the conference was sharp. Central banks have implemented further substantial policy measures to limit the damage from the Covid-19 lockdown and maintain financial stability. Nonetheless, at [...]
Crypto Derivatives Monthly Volumes Hit New All-Time High September 15, 2020 This week CryptoCompare data shows the price of Bitcoin (BTC) moved from around $10,100 to a $10,540 high before enduring a minor correction. The cryptocurrency is trading at $10,340 at press time. Ether (ETH), the second-largest cryptocurrency by market capitalization, started the week around $340 and moved up throughout it until it hit a $380 [...]
Marketing in a crisis: Top tech bosses on how to build a brand through Covid-19 September 14, 2020 While the coronavirus pandemic has wreaked havoc through all parts of the business world, there are few who have had to argue their case for survival more than chief marketing officers. As the economic downturn set in and companies scrambled to shore up their finances, marketing budgets have been slashed across the board. Official industry [...]