FTSE 100 closes higher on new coronavirus drug hopes June 16, 2020 The FTSE 100 extended its gains this afternoon closing up nearly three per cent after a major development in an Oxford University clinical trial. London’s blue-chip index climbed to highs of 3.53 per cent in the afternoon, before closing up 2.96 per cent. It erased Monday’s losses when traders were jittery on second wave fears. [...]
Bank of Japan boosts coronavirus lending beyond $1 trillion June 16, 2020 Japan’s central bank has increased its coronavirus lending programmes to over $1 trillion (£792bn) but kept monetary policy on hold, with governor Haruhiko Kuroda signalling that it is bracing for a second wave of coronavirus infections. Kuroda said it was impossible to rule out a second wave, signalling the Bank of Japan’s (BOJ) willingness to [...]
Covid changes could electrify entrepreneurial Britain, so let’s give SMEs the support they deserve June 16, 2020 We have always been a nation of small businesses. The UK’s 5.9m SMEs account for 99 per cent of all our businesses. They give us jobs, they’re a familiar neighbourhood face — and in the age of coronavirus, new Barclaycard and Enterprise Nation research has found that some are not only surviving, but getting ready [...]
CryptoAM: Shines its spotlight on Cygnetise June 16, 2020 The release of a commercially live product in 2018 saw Cygnetise gain its first paying customers. Since then, the product and technology has continually improved, driven by market demand whilst over-zealous ambitions have been prudently reined in by modest levels of investment and resource. Unlike many, Cygnetise have chosen to focus their blockchain based business [...]
From Punk Rock to the Genesis Block June 16, 2020 Some of my earliest memories are of the social unrest of the 1970’s. Richard Nixon had cut the dollar’s final ties to gold a few months after I was born in 1971 and by the time I was toddling around in front of the TV screen, it was filled with pictures of angry young men [...]
Lufthansa seeking to make equivalent of 22,000 jobs redundant June 15, 2020 German flag carrier Lufthansa is looking to make the equivalent of 22,000 full-time roles redundant as it seeks to restructure after the coronavirus crisis. The airline said that it was aiming to have made agreements with workers’ representatives by 22 June. The job cuts, which will impact 600 pilots, 2,600 cabin crew members and 1,500 [...]
Dominic Raab hits out at HSBC over its support for Hong Kong security legislation June 15, 2020 Foreign secretary Dominic Raab has lashed out at HSBC’s stance on proposed security legislation in Hong Kong, saying the government “will not sacrifice the people of Hong Kong over the altar of banker bonuses”. Raab said the UK had a “historic commitment to the people of Hong Kong to protect their autonomy and protect their [...]
Johanna Kyrklund: Is retail investor surge cause for caution? June 15, 2020 With a combination of resurgent markets, seemingly ebullient retail investors and a bleak economic outlook, it may be prudent to tread carefully. It’s an old investment cliché that when your taxi driver starts giving you share tips, it’s time to sell. As someone who has been on the receiving end of cabbie investment advice during [...]
Taxation post COVID19 June 15, 2020 Following global lockdown the UK went into defensive and offensive mode with the furlough scheme, loans and other government support for almost every business and sole trader. But that has seen a reasonably strong economic outlook disappear almost entirely for some businesses in the short space of 3 months. In turn this has resulted in [...]
HSBC’s head of public affairs leads pro-China lobbying push June 14, 2020 A pro-China business group is urging FTSE100 companies to lobby the UK government to act more pro-Beijing as relations between the two countries begin to flounder. The China-Britain Business Council (CBBC) – whose members include HSBC, BP and Standard Chartered – has spoken to a number of high-profile companies, that have connections to China, to back [...]