Coronavirus: Fifth death in UK as confirmed cases rise to 319 March 9, 2020 A fifth person has died from coronavirus in the UK as the number of confirmed cases in the UK rose to 319. The patient who was in their seventies was being treated at Epsom and St Helier University Hospitals NHS Trust. Chief executive Daniel Elkeles said: “We can confirm that sadly, a patient in their [...]
Coronavirus: Supermarkets call for competition laws to be waived March 9, 2020 The bosses of the UK’s biggest supermarkets are expected to warn the government that the outbreak of coronavirus could require competition law to be paused to allow them to collaborate. During a phone call with environment secretary George Eustice at least one of the big four grocers will reportedly call for the suspension of the [...]
Tesco sells Thai and Malaysian businesses for £8.2bn March 9, 2020 Tesco has sold its Thai and Malaysian businesses to CP Group for £8.2bn, the supermarket giant announced this morning. Following the deal Tesco will return £5bn to shareholders and make a £2.5bn pension contribution. The disposal of the two Asian units, which were operated under the Lotus brand, will simplify the group’s structure and allow [...]
London economy’s post-election bounce continues March 9, 2020 London’s private sector grew strongly in February, survey data has shown, even as the coronavirus outbreak took its toll on tourism. The Natwest/IHS Markit London purchasing managers’ index posted 56 in February, down slightly from 56.5 in January but stronger than the long-run average. A score of above 50 indicates that the private sector expanded. [...]
UK small businesses gloomy about coronavirus and Brexit March 9, 2020 Worries over the impact of Brexit and coronavirus mean more than 70 per cent of the UK’s small and medium-sized businesses do not expect the country’s economy to grow during the rest of 2020, according to new survey data. The pessimism about growth means firms 57 per cent of firms are unlikely to invest in [...]
Can interest rate cuts help economies deal with coronavirus? March 8, 2020 Last Tuesday, the coronavirus outbreak drove the US Federal Reserve to do something it hadn’t done since the 2008 financial crisis: slash interest rates in an emergency move. Fed chair Jay Powell said rate-setters had “come to the view that it is time for us to act in the support of the economy”. The economic [...]
Coronavirus: Tesco rations essential food and household items March 8, 2020 Tesco has begun rationing essential food and household items as shoppers stockpile amid the coronavirus outbreak. Customers are limited to buying no more than five of each of the rationed goods, including antibacterial gels, wipes and sprays, dried pasta and UHT milk. The rules apply both in store and online. Waitrose has also reportedly introduced [...]
Boots Advantage Card payments blocked after cyber attack March 5, 2020 Boots Advantage Card has suffered a cyber attack, forcing the chemist to suspend payments using loyalty points. The cyber attack has affected around 140,000 customers, which Boots said represented less than one per cent of its online users. Scammers attempted to break into Boots Advantage Card accounts using passwords stolen from other websites, which can [...]
CMA warns firms against coronavirus rip-offs as face mask and hand sanitiser prices soar March 5, 2020 The Competition and Markets Authority (CMA) today warned companies not to gouge customers during the coronavirus scare as prices for hand sanitiser and face masks rocket. The watchdog said it would look at evidence that companies may have broken competition or consumer protection law by charging excessive prices or making misleading claims about their products. [...]
Tesco ramps up fight back against German discounters March 5, 2020 Tesco has ramped up the competition with the German discount supermarkets as it pledged to price match hundreds of products. The UK’s Big Four supermarkets – which also includes Asda, Sainsbury’s and Morrisons – have been shedding market share to budget rivals Aldi and Lidl. Tesco, which is the UK’s largest supermarket, suffered a 0.8 [...]