After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Calls grow for job retention scheme to be extended May 3, 2020 Calls are growing for Rishi Sunak to extend the government’s coronavirus job retention scheme past June. The scheme sees the government pay 80 per cent of people’s wages, up to £2,500 a month, for furloughed employees until the end of June. Boris Johnson next week will announce how the UK will ease social distancing restrictions, [...]
Treasury fast tracks VAT cut for e-books and digital newspapers April 30, 2020 Plans to scrap VAT on e-books and digital newspapers have been fast tracked in an effort to support the publishing industry during the Covid-19 crisis, the chancellor said today. In his Budget speech in March Rishi Sunak said all digital publications, including books, newspapers, magazines and academic journals, would be exempt from the tax from [...]
Coronavirus small business loan lending tops £4.1bn but concerns remain over scheme April 30, 2020 Coronavirus business interruption loan scheme (CBILS) lending has topped £4.1bn, according to bank industry body UK Finance. Over £1.33bn of loans were approved in the week to 28 April. The number of loans provided through the scheme has increased by 8,638 over the same period to a total of 25,262, an increase of over 50 [...]
Tory MP calls on government to extend job retention scheme April 29, 2020 A Conservative London MP has called on the government to extend the job retention scheme that pays “furloughed” workers’ wages to help businesses hit by a plunge in international visitors. Nickie Aiken, MP for Cities of London and Westminster, and the Association of International Retail have written to chancellor Rishi Sunak to say that businesses [...]
Boris Johnson’s fiancee Carrie Symonds gives birth to baby boy April 29, 2020 Boris Johnson’s fiance Carrie Symonds has given birth to a “healthy baby boy” at a London hospital this morning, according to a Downing Street spokesperson. The baby and mother are both said to be doing well. There has been no announcement on what they have named their newborn son, but Coral bookmakers has Alexander as [...]
Martin Gilbert: Coronavirus ‘multiple times worse’ than Black Monday for City April 29, 2020 Veteran asset manager Martin Gilbert has warned the economic fallout from the coronavirus pandemic will be “the most dramatic we’ve seen since the 1930s” as he warned of “a long, slow recovery” for certain sectors of the economy. Speaking to The City View podcast today, Gilbert said that though Black Monday in 1987 was a [...]
Councils criticised for slow rollout of coronavirus business grants package April 28, 2020 Business groups have criticised councils for the slow rollout of the government’s coronavirus grant scheme as new figures reveal that almost 40 per cent of all eligible businesses are still waiting for the emergency funding. Councils across the country were given £12.33bn by the government four weeks ago on 1 April to distribute to businesses [...]
HSBC CEO: Applications for coronavirus loans ‘now easier’ to process April 28, 2020 HSBC’s CEO today blamed the sheer demand for coronavirus loans for banks’ apparent slowness to lend out cash to struggling small businesses. Noel Quinn said banks have seen a “significant volume” of applications for the Coronavirus Business Interruption Loan Scheme (CBILS) so far. And he rejected the notion that a full government guarantee of such [...]
Lenders grant 1.6m mortgage payment holidays to homeowners April 28, 2020 Lenders have granted 1.6m mortgage payment holidays to homeowners facing financial difficulties due to the coronavirus outbreak. Chancellor Rishi Sunak announced in March that households with mortgages would be entitled to three-month payment holidays. Over a third of payment holidays approved so far were done in the first week of the UK’s lockdown. One in [...]
TheCityUK boss: Banks not ‘shirking’ CBILS duty April 28, 2020 One of the City’s most senior figures has insisted banks are not “shirking their responsibilities” as the government unveiled further modifications to the controversial Coronavirus Business Interruption Loan Scheme (CBILS). Miles Celic, chief executive of industry group TheCityUK, said that banks were doing “their level best” to address demand for loans in what he called “an [...]