US jobless claims: 1.48m more file for benefits as total hits 47m June 25, 2020 More than three months into the coronavirus crisis, millions more Americans are still filing for unemployment benefits each week. According to the US labour department, 1.48m people filed claims last week, marking a slowdown from the previous week’s figure of 1.54m. Economists had predicted a bigger drop to around 1.3m. While it marks the twelfth [...]
UK coronavirus death toll rises by 154 as Johnson lambasted for track and trace app June 24, 2020 A further 154 people in the UK have died after contracting coronavirus, the Department for Health and Social Care announced, as Prime Minister Boris Johnson was accused of misleading the public over the UK’s trace and trace app in the Commons this lunchtime. The 154 coronavirus-related deaths announced today takes the total number of Covid-19 [...]
Businesses must avoid becoming the avoided June 24, 2020 On top of a tragic human toll, the COVID-19 pandemic has battered businesses – especially small ones. This is evidenced by the United Kingdom’s April 2020 gross domestic product, which experienced its largest drop in a single month in history, falling 20.4%. As restrictions stemming from the pandemic lift and people emerge from their homes [...]
London’s nightclubs and casinos slam ‘suicidal’ new coronavirus guidelines June 24, 2020 London’s nightclubs and casinos have slammed Boris Johnson’s decision to exempt them from a list of venues allowed to reopen in July as “suicidal”, and urged the government to provide financial support to prevent further redundancies in the sector. The Prime Minister yesterday announced that pubs, bars, restaurants, hotels, theme parks, galleries and hairdressers will [...]
CMA clears Amazon’s £442m Deliveroo stake despite delivery firm’s coronavirus turnaround June 24, 2020 Britain’s competition watchdog has provisionally cleared Amazon’s £442m investment in Deliveroo, saying that it is “not likely to result in a substantial lessening of competition”. The Competition and Markets Authority has been looking into whether the deal would damage competition in either restaurant delivery or online convenience grocery delivery. The decision to let the investment [...]
Boxpark chief: Rent crisis could be disastrous for London hospitality June 24, 2020 On a normal, pre-lockdown night just a short walk from Liverpool Street, Boxpark Shoreditch would usually be buzzing with small retailers and rooftop bars packed full. As anybody who has walked through the area recently will know, though, an eerie silence has fallen on that particular corner of Shoreditch – just as it has at [...]
Guinness owner Diageo launches $100m fund to help pubs reopen June 24, 2020 Guinness owner Diageo has today announced a recovery fund to help pubs and bars reopen following the coronavirus lockdown. The drinks maker will provide $100m in funding through its “Raising the Bar” scheme to major hospitality centres, including London, Edinburgh, Dublin and Belfast. Hospitality has been one of the hardest-hit sectors as the pandemic forced [...]
Alex Cheatle: The trouble with staycations June 24, 2020 Alex Cheatle, founder and CEO of Ten Lifestyle Group, writes for City A.M. on why he thinks ‘staycations’ are for too many a risky business this summer Tempted to holiday in the UK this summer? There are two things you need to know about the ‘staycation’ to discover why much of the British travel industry [...]
FTSE 100 and Wall Street gain on signs of economic recovery June 23, 2020 The FTSE 100 closed up and Wall Street posted strong gains on Tuesday afternoon after new economic data signalled that business activity across the US, UK and the Eurozone was recovering faster than expected. Having risen steadily throughout the morning, the FTSE 100 pushed ahead in afternoon trading today as traders welcomed the most significant [...]
Pubs and restaurants express relief as their lockdown ends June 23, 2020 Hospitality bosses have reacted with cautious optimism after Boris Johnson gave the green light for restaurants and pubs reopening on 4 July. Industry reaction has been largely relieved this afternoon, albeit with warnings that many businesses will still need financial support from the government as they start trading again. The Prime Minister announced this afternoon [...]