The 2.6 Challenge: A simple idea to help those who help May 2, 2020 Last Sunday, thousands of runners and spectators should have been turning the capital’s streets into a colourful carnival at the 40th edition of the London Marathon. Instead, across the UK people of all ages were running, cycling, hopping, skipping, cooking, flipping, cartwheeling, bouncing, dressing up and having fun to fundraise in a uniquely British way. [...]
The CEO Perspective: How is COVID-19 defining business purpose? May 1, 2020 When the dust settles, will business emerge having played its part and who will have stayed true to their purpose? As leaders strive to steer their corporate ships through unimaginably stormy waters, there’s an understandable need to focus solely on the management of immediate, operational and financial issues. But in the midst of uncertainty, companies [...]
RBS profit nearly halves due to coronavirus uncertainty May 1, 2020 The Royal Bank of Scotland (RBS) saw its profit nearly halve in the first quarter of 2020 due to the ongoing uncertainty caused by the coronavirus outbreak. Despite the fall, the bank insisted it was in a “strong positon” to deal with a significant economic downturn. Shares in the bank rose 1.6 per cent in [...]
At the height of coronavirus, corporate insolvencies are falling April 30, 2020 Corporate insolvencies fell in the first quarter despite the economic impact of coronavirus, figures released today show. Office for National Statistics data showed there were 3,883 company insolvencies in the first quarter, a decrease of 8.5 per cent from both the previous quarter and the same quarter in 2019. Duncan Swift, past president of insolvency [...]
Three lessons law firms can learn from rivals’ collapses amid coronavirus April 30, 2020 Law firm collapses are a lot like bank runs. Confidence in the institution crumbles, causing partners to rush for the exits – taking their capital and clients with them. Partner departures reduce the firm’s revenue, profit and capital, leading to further partner exits in a destructive feedback loop. Once firms enter this death spiral it [...]
Coronavirus: The crisis could reshape investment strategies for the better April 30, 2020 We are living through a period of modern history that very few could have imagined. Three billion people worldwide are in lockdown, the value of global commerce is being called into question as protectionism is on the rise, and financial markets are unsure what assets are worth. The world as we knew it has been [...]
Coronavirus: Remote working isn’t working April 30, 2020 We’ve just witnessed the single biggest change in working practices in the history of modern business. It happened overnight. Millions shifted from working in soulless city centre offices to earning their crust from a desk in their bedroom, kitchen or garage. There has been a lot of self-congratulation. Many have been amazed that they have [...]
US Federal Reserve holds rates and expresses caution about recovery April 29, 2020 The US Federal Reserve has kept interest rates on hold at their current record low level and signalled that they will stay there until “the economy has weathered” the coronavirus outbreak. The Fed said coronavirus “is causing tremendous human and economic hardship”. It added that it “poses considerable risks to the economic outlook over the [...]
Barclays’ first quarter profit falls by £600m amid coronavirus disruption April 29, 2020 Barclays’ profit has tumbled to £923m in the first quarter, down from £1.54bn in the same period last year, due to the coronavirus pandemic. it revealed today. The bank also booked an impairment charge of £2.1bn, which it said reflected its “initial estimates of the impact of the pandemic”. However, Barclays’ shares jumped five per [...]
British Airways says it could cut 12,000 jobs as global travel slumps April 28, 2020 International Airlines Group (IAG) today said a redundancy consultation at British Airways could lead to 12,000 people losing their jobs. IAG said British Airways is formally notifying its trade unions about a proposed restructuring and redundancy programme. “The proposals remain subject to consultation but it is likely that they will affect most of British Airways’ [...]