A new economic era beckons after this crisis April 29, 2020 Current events likely mark a turning point in economic policy and the end of a 40-year spell of free market capitalism. Nobody can know how long the Covid-19 crisis will last, but I think that regardless of this it will mark a profound long-term change in economic policy. It is likely a turning point in [...]
Coronavirus: First Group receives £300m from Bank of England April 24, 2020 Transport operator First Group today announced it had received £300m from the Bank of England to help deal with the financial damage of the coronavirus pandemic. First is currently running its bus services at 40 per cent of normal capacity, although passenger numbers have dropped 90 per cent, the firm said. The company’s rail franchises [...]
Coronavirus: Transport for London to furlough 7,000 staff April 24, 2020 Tube operator Transport for London (TfL) will put 7,000 of its staff onto the government’s job retention scheme from Monday to cut costs during the coronavirus pandemic. Passenger number on TfL’s services have plummeted in recent weeks due to the coronavirus lockdown, as all but essential workers have taken to working from home. According to [...]
What’s happening to dividends and what next? 11 questions answered April 23, 2020 Nick Kirrage, co-head of the Value team, and Sean Markowicz, part of the Research and Analytics team, chatted with us about the future of dividends and buybacks. With so many investors reliant on dividends to boost their income or support their retirement we wanted know what’s happening now, whether investors should be concerned and what [...]
Transport for London ‘in line for Tube bailout’ April 22, 2020 Urban transport operators including Tube operator Transport for London are in line for government bailout as the complete collapse in passenger numbers due to coronavirus raised questions over their survival. The Financial Times reported that Whitehall officials said that emergency funding could be released by the end of the week following negotiations. Passenger numbers have [...]
Coronavirus: A lockdown exit strategy to save the economy April 20, 2020 Releasing people aged 20-30 years-old who no longer live with their parents could provide the first step out of lockdown in the UK, researchers suggest. The strategy could help policymakers to balance the health risks associated with COVID-19 and the need to avoid an “extraordinary recession”. The UK is currently locked down in an attempt [...]
UK coronavirus lockdown: Consumers spend more on video games and online shopping April 20, 2020 Britons have been spending more on video games and with Amazon, Apple and Argos during the UK coronavirus lockdown, according to the latest research. Digital bank Starling said its customers spent almost 300 per cent more on Playstation and Nintendo in the week ending 5 April compared to the week to 15 March, before the [...]
Coronavirus: Decision to cut Tube services caused overcrowding, say transport watchdogs April 20, 2020 A decision made by Sadiq Khan and Transport for London (TfL) to reduce Tube services has caused overcrowding during the coronavirus lockdown, according to the UK’s two largest transport watchdogs. The mayor of London, on numerous occasions, blamed overcrowding on some Tube lines to people using the network unnecessarily at peak times. This caused a [...]
Coronavirus: London mayor Sadiq Khan calls for face masks on Tube April 17, 2020 London mayor Sadiq Khan called on the government today to make coronavirus face masks compulsory for people using the Tube or shopping. The mayor said that evidence from around the world was that face coverings help stop the spread of coronavirus. New York has ordered residents to wear masks or substitute face coverings when in [...]
Coronavirus: The Mayor must do more to protect London’s key workers April 16, 2020 In the last month, 26 staff from London’s transport network died. Most were bus workers. And instead of taking action himself, the Mayor says he needs more international collaboration Don’t get me wrong. There’s a place for international collaboration. After all, London is a global city. But right now, the people who need the Mayor [...]