TfL set for £4bn loss as operator seeks government bailout May 12, 2020 Transport for London (TfL) is on track for a £4bn loss this year as the capital’s transport operator continues to seek a bailout from the government. According to papers from TfL’s finance committee, the operator is currently spending £600m a month due to the coronavirus crisis. As a result of the pandemic, usage of London’s [...]
TfL: Londoners should wear face masks on Tube May 11, 2020 Transport for London (TfL) has warned commuters that they will have to “significantly change” the way they travel as the country begins to ease coronavirus lockdown measures. After Prime Minister Boris Johnson last night said that those who could not work from home should return to work, the operator laid out its initial plan to [...]
UK lockdown: No pubs or restaurants to reopen until July ‘at very earliest’ May 11, 2020 Pubs, hair salons and restaurants will not open until 4 July at the “very earliest”, Dominic Raab said today in a warning the UK lockdown is far from over. While manufacturing and construction workers will begin returning to work today the picture is very different for retailers, the foreign secretary said today. Raab insisted the [...]
Coronavirus: How business responded to Boris Johnson’s lockdown plan May 10, 2020 Business groups have welcomed Boris Johnson’s call for millions of people to return to work but called for clearer guidance on how to maintain safety standards and support furloughed employees. In a speech this evening Johnson said that anyone who cannot work from home — such as those in construction and manufacturing — should be [...]
Virgin Atlantic launches desperate plea for government support as buyout firms circle May 10, 2020 The chief executive of Virgin Atlantic has issued a last-ditch plea for a government bailout as a string of buyout firms circle the troubled carrier. Sir Richard Branson’s airline has failed to impress the Treasury with its request for a £500m taxpayer-funded rescue package, with chancellor Rishi Sunak stating support would be given only as [...]
Minister: Government wants to ‘encourage people to go back to work’ May 10, 2020 The government wants to encourage people to go back to work as it unveils its new coronavirus slogan, according to housing secretary Robert Jenrick. Boris Johnson will unveil a new slogan to replace the government’s “stay home, protect the NHS, save lives” mantra it has repeated throughout the Covid-19 lockdown. The Sunday Telegraph reported it [...]
Boris Johnson set to ease coronavirus lockdown restrictions tonight May 10, 2020 Boris Johnson is expected to announce an easing of the UK’s coronavirus lockdown tonight as the government implements a new five-tier warning rating. It is expected that the Prime Minister will announce that, from next week, people will be allowed to exercise more than once a day and sunbathe as long as two metres distance [...]
Sajid Javid: UK should run the economy ‘hot’ and support lenders May 8, 2020 Former chancellor Sajid Javid has said the government should “run the economy hot” and lift coronavirus restrictions to encourage growth. He also suggested “bad banks” could be created to help the UK’s lenders which are set to struggle with bad loans as coronavirus crashes the economy. Javid’s intervention came after the Bank of England yesterday [...]
O2 and Virgin Media confirm merger to create £31bn telecoms player May 7, 2020 O2 and Virgin Media have confirmed a merger to form a multi-play broadband giant that would be valued at a combined total of £31.4bn. The pair pledged to invest £10bn into the UK over the next five years while saving £6.2bn through combined synergies, or £540m a year five years after the merger completes. But [...]
Goldman Sachs in talks to buy Invesco holdings May 6, 2020 Goldman Sachs is reportedly in talks to buy a large portfolio of company stakes being sold by Invesco. A unit of Goldman Sachs Asset Management is closing in on a deal to acquire the positions, according to Sky News reports, which could be closed within weeks. Invesco had applied a 60 per cent reduction to [...]