Mothercare franchising deal with Boots delayed by coronavirus March 30, 2020 Mothercare said today that the start of a franchising deal with Boots has been delayed by the coronavirus pandemic. In an update to the stock exchange this morning, Mothercare said its global franchise partners “are facing considerable challenges” related to the outbreak, adding that it will “not be immune to the effect of widespread store [...]
EY resigns as auditor of Travelex owner Finablr as board members quit March 30, 2020 EY has resigned as auditor of Finablr after the troubled payments firm could not accommodate some adjustments it requested, including changing the composition of its board. Trading in the London-listed firm’s shares was suspended earlier this month after Finablr warned it was preparing for potential insolvency. It has launched an investigation into its finances. Finablr [...]
COVID-19 – the latest challenge to ‘levelling up’ the UK economy March 30, 2020 In uncharted territory … When I flew out of Buenos Aires in late 1990, having ended my stint working as part of a team supporting the economic reform programme of President Menem, I genuinely believed I would never again work in such a severe economic situation like the one Argentina had been in. Prices in [...]
COVID-19 and cyber: Critical actions for employees and business to take now March 30, 2020 Recent weeks have been challenging for us all on so many fronts. Most importantly businesses have had to prioritise the health of society whilst doing their very best to keep things on track. Each day has brought new challenges as employees rapidly adapt to new ways of working. How can businesses maintain operational resilience and [...]
These are difficult times — but London is strong, and the City will get through this March 30, 2020 If this crisis has shown us anything, it is that the Square Mile really can keep calm and carry on in the face of adversity. In just over a week, the majority of the City’s half a million employees have adapted to working at home remarkably quickly, thanks to technology such as video conferencing, and [...]
Coronavirus: Why the pandemic is a hotbed for cyber attacks March 28, 2020 On 14 March, computer systems at the University Hospital Brno in Czech Republic gradually began to fail. The hospital — the second largest in the country and home to one of its key coronavirus testing laboratories — had been hit by a cyber attack. Several well-known hacker groups have since issued statements vowing not to [...]
Morrisons directors quit in corporate governance row March 26, 2020 Two Morrisons non executive directors have quit, reportedly due to a disagreement over corporate governance at the supermarket. Neil Davidson, chair of the corporate compliance and responsibility committee, and Tony van Kralingen, remuneration committee chair, have stepped down and will cease to be directors from 26 and 29 April respectively. The grocer said today that [...]
Coronavirus: Airports hit back at Rishi Sunak over aviation rescue u-turn March 26, 2020 The UK’s airports have hit back at chancellor Rishi Sunak’s choice to “row back on [his] vital decision to stand by the aviation sector”, saying that the chancellor seems to have “little recognition” of the fact that airports have different operating models to airlines. On Tuesday Sunak said that state aid would only be given [...]
Investors flee UK funds for cash with bond funds the worst hit March 26, 2020 Record amounts have flowed out of UK funds this month with bond funds hit the hardest as investors flocked towards cash. As the coronavirus crisis deepens and fears of a recession mount, UK funds have shed £4.4bn in the month to date, according to figures from global funds network Calastone. This week there was a [...]
US senate unanimously approves $58bn package for airlines March 26, 2020 Late last night the US senate voted unanimously in favour of a $58bn (£49bn) rescue package for its struggling aviation industry, which has been decimated by the plunge in travel demand caused by coronavirus. Almost half – $25bn of the total package – comes in the form of grants, which airlines will use to continue [...]