International Energy Agency chief warns oil demand could sink 20 per cent March 26, 2020 Global demand for oil could fall by 20 per cent as 3 billion people around the world live in lockdown. Head of the International Energy Agency Fatih Birol, who made this prediction, also called on Saudi Arabia to rectify the situation. Brent crude, currently at $26 a barrel, has been driven to record lows because [...]
Dyson to make ventilators to bolster NHS supply in fight against coronavirus March 26, 2020 The government has ordered 10,000 ventilators from household appliance firm Dyson. The company said it has designed a new ventilator from scratch with engineers working “round the clock.” The government had earlier called for manufacturing firms in the UK to use their production capacity to make ventilators to counter a national shortage. However, the provision [...]
Self-employed coronavirus stimulus: Rishi Sunak to pay Britain’s freelancers up to £2,500 a month March 26, 2020 The government will pay 80 per cent of self-employed workers’ wages, up to £2,500 a month, to deal with the economic fallout from coronavirus. The package was announced by chancellor Rishi Sunak today, giving self-employed workers the same support announced for traditional workers last week. It will be available for any self-employed person who has [...]
Coronavirus: Airports hit back at Rishi Sunak over aviation rescue u-turn March 26, 2020 The UK’s airports have hit back at chancellor Rishi Sunak’s choice to “row back on [his] vital decision to stand by the aviation sector”, saying that the chancellor seems to have “little recognition” of the fact that airports have different operating models to airlines. On Tuesday Sunak said that state aid would only be given [...]
Coronavirus: Police get power to arrest or fine those breaking lockdown rules March 26, 2020 Police have been given the power to arrest or issue fines of £60 to people found to be breaching the UK coronavirus lockdown rules. In a bid to enforce the restrictions that were announced on Monday evening, police can issue a fixed penalty notice of £60, which will be lowered to £30 if paid within [...]
Coronavirus: Self-employed bailout won’t be perfect, says minister March 26, 2020 A health minister has warned self-employed workers in line for economic relief today that their package might not be “perfect”. Health minister Edward Argar said the government did not “want the perfect to be the enemy of the good” in formulating a package to assist the self-employed during the coronavirus outbreak. Rishi Sunak will unveil [...]
Coronavirus: London Southend Airport to close for four days a week March 26, 2020 London Southend airport will shut for more than half of the week from Monday due to the complete collapse in passenger demand caused by the coronavirus outbreak. From next week, the airport will only be open between 16:30 and 21:30 on Tuesdays, Thursdays and Sundays due to severely reduced service. Due to the onset of [...]
US senate unanimously approves $58bn package for airlines March 26, 2020 Late last night the US senate voted unanimously in favour of a $58bn (£49bn) rescue package for its struggling aviation industry, which has been decimated by the plunge in travel demand caused by coronavirus. Almost half – $25bn of the total package – comes in the form of grants, which airlines will use to continue [...]
Intu sees rent payments dive amid UK coronavirus crisis March 26, 2020 Struggling retail landlord Intu has received less than a third of rent due for its second quarter as retailers struggle to pay the bills amid the UK coronavirus crisis. That forced it to abandon 2020 guidance as its incredibly low shares dropped three per cent to under 4p. The government has ordered almost all shops [...]
Coronavirus: FTSE 100 falls ahead of US unemployment figures March 26, 2020 The FTSE 100 has fallen in early trading after two consecutive days of gains as investors await what is set to be dire US jobs data and an interest rate decision by the Bank of England. Britain’s main stock index was down 2.8 per cent at 5,530 points. It had climbed five per cent yesterday [...]