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 [...]
Coronavirus: Premier Inn owner Whitbread to axe up to 6,000 jobs September 22, 2020 The owner of hotel chain Premier Inn has announced plans to cut up to 6,000 jobs as the coronavirus outbreak continues to ravage the hospitality industry. Whitbread, which also owns the Beefeater and Brewers Fayre restaurant chains, said the figure represents 18 per cent of its total workforce. The FTSE 100-listed firm said the cuts [...]
Second local lockdown could cost London more than £2bn September 21, 2020 London could face annual costs of more than £2bn if fresh curfew measures are implemented in the capital, according to a new report. Leading think tank the Centre for Economics and Business Research (CEBR) today warned that 10pm curfews introduced elsewhere in the UK could reverse the country’s economic recovery if slapped on London venues. [...]
Around 5m workers were furloughed in July amid uneven recovery September 18, 2020 As many as 5.3m people remained on the furlough scheme at the end of the July, although almost a million returned to their jobs on a part-time basis, the latest figures from HMRC showed. The furlough scheme became flexible in July, meaning businesses could bring employees back part-time. The government paid 80 per cent of [...]
Government imposes fresh spate of local lockdowns across northern England September 17, 2020 Health secretary Matt Hancock has confirmed a fresh round of local lockdowns across towns in the north of England, alongside a £2.7bn funding boost for the NHS. From today, additional lockdown measures will be imposed in Northumberland, North Tyneside, South Tyneside, Newcastle-upon-Tyne, Gateshead, Sunderland and County Durham. These will include: Households only being allowed to [...]
Crypto AM shines its Spotlight on Blok BioScience September 16, 2020 There are many companies both large and small putting forward all manner of technology solutions to help manage the pandemic. Some are contact trace solutions while others are immunity passports. Some make clever use of modern database capabilities while others rely on DLT of various flavours. Some are centralized repositories with impressive analytical inference tools [...]
UK inflation falls to five year low due to Eat Out to Help Out September 16, 2020 UK inflation slipped to a five-year low in August as the Eat Out to Help Out scheme dragged down prices in the restaurant sector for the first time on record. The price of goods and services in the UK rose by 0.2 per cent in August compared to a year earlier, the Office for National [...]
UK unemployment: Experts say job losses to jump as furlough ends September 15, 2020 UK unemployment has finally started rising. Months of economic hardship and the winding down of the furlough scheme meant 695,000 people lost their jobs between March and August, according to payroll data. The Office for National Statistics (ONS) said the unemployment rate rose to 4.1 per cent in the three months to July. That was [...]
Eat Out to Help Out wipes £155m off supermarket sales September 15, 2020 The government’s Eat Out to Help Out discount scheme saw £155m knocked off supermarket sales last month as consumers ate fewer meals at home. Brits spent less at supermarkets in the four weeks to 6 September compared to July as the discount scheme encouraged people to venture out to restaurants and cafes. Alcohol supermarket sales [...]
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 [...]