Coronavirus: 700,000 jobs lost since March September 15, 2020 Almost 700,000 workers have lost their jobs since the coronavirus pandemic began in March, according to the latest government statistics. The HM Revenue and Customs and Office for National Statistics data showed early indicators for August suggest that the number of employees in the UK on payrolls was down around 695,000 compared with March. The [...]
Debate: Have young people been hardest hit by lockdown? September 15, 2020 Last week, politicians split opinion by suggesting that young people were partly to blame for the sharp rise in coronavirus cases. It led to cries that young people have been hit the hardest by the coronavirus lockdown – while others think this is not the case. For the City A.M. debate, Sean Farrington of tech [...]
Domino’s to create 6,000 new jobs September 15, 2020 Pizza takeaway chain Domino’s has announced it is creating 6,000 new roles ahead of the crucial Christmas trading period. The fast food firm is hiring 5,000 new employees as well as 1,000 placements under the government’s Kickstart scheme to help young people get jobs after the coronavirus pandemic. Among the 5,000 new roles, Domino’s will [...]
Entrepreneurs are an asset to grow. The government must give them time to thrive September 14, 2020 “Energy is eternal delight.” Heed the words of William Blake, because entrepreneurial energy is the dynamo that has powered the UK economy and transformed the business scene in recent times. The worry has to be that this is not a year that suggests this energy is eternal, and the mistake is to assume the resilience [...]
Sajid Javid backs plan to end furlough scheme in October September 11, 2020 Former chancellor Sajid Javid today offered his support for ending the furlough scheme next month, claiming any extension would be “unfair” on taxpayers. Speaking at the Centre for Policy Studies think tank talk about the post-pandemic economic recovery ahead, Javid said he agreed with chancellor Rishi Sunak that the furlough scheme must end. “Even if [...]
Santander spins out $400m fintech venture fund September 11, 2020 Santander is splitting off its fintech venture capital fund and doubling its funding, re-branding the formerly-known Innoventures as Mouro Capital. Mouro Capital will be independent from Santander and have $400m in allocated funds, the Spanish bank said today. It will take on the entirety of Innoventures’ current portfolio, which includes the likes of payments giant [...]
In a remote-working future, young people have so much to lose September 11, 2020 Boris once again rolled up his sleeves for a fight last week as he put pressure on employers to bring their teams back to the office. It won’t be easy – the business world is at loggerheads. JP Morgan and Schroeders, the most corporate of employers, have committed to remote working on a permanent basis [...]
MPs attack chancellor’s plan to wind down furlough scheme September 11, 2020 The powerful Treasury Committee of MPs has criticised the chancellor’s new job retention bonus scheme as inefficient, and called for him to “carefully consider” more targeted support for parts of the economy when the furlough scheme ends. In a wide-ranging report, the Committee also said the Treasury must quickly come up with a scheme to [...]
Mainland Portugal added to England’s quarantine list September 10, 2020 Portugal has been added to England’s quarantine list after a consistent rise in new cases, transport secretary Grant Shapps has confirmed. From four o’clock on Saturday morning, travellers from mainland Portugal, Hungary, French Polynesia and Reunion will have to self-isolate for 14 days. In a tweet Shapps said: “Data shows we need to remove PORTUGAL [...]
The mutant algorithm: what actually went wrong with this year’s school exams September 9, 2020 The Prime Minister described it as a “mutant algorithm”. Social commentators were naturally outraged as it disproportionately upgraded the results of children from private schools, while downgrading those from state schools, especially in the poorest areas. Few people actually understood how it worked, as the technical report from the UK Office for Qualifications (Ofqual) purporting [...]