Exclusive: Sadiq Khan says Londoners neglected by coronavirus self-employed package April 13, 2020 Sadiq Khan has written to chancellor Rishi Sunak to demand more financial help is given to the capital’s self-employed workers amidst findings that one-in-three self-employed Londoners will not receive any assistance. The London mayor’s letter, written to Sunak and business secretary Alok Sharma, claims that up to 290,000 Londoners, 12 per cent of the capital’s [...]
Coronavirus: Universities call for state aid with income set to plunge April 10, 2020 The UK’s universities have written to the government to request financial assistance as they brace for an estimated £800m drop in income this academic year. In an open letter sent to the chancellor and the education secretary, sector body Universities UK warned that higher education establishments could lose as much as £7bn in international student [...]
Coronavirus: If we get it right, there are grounds for optimism for SMEs April 10, 2020 The Government have acted promptly and in scale to address the unprecedented crisis we face. In addition to the schemes to protect jobs and certain hard-hit sectors, such as hospitality, some of the schemes are intended for distribution through the banks. These include: Coronavirus Commercial Financing Facility (CCFF) where the Bank of England buys debt [...]
Coronavirus: An economic evolution, not revolution April 8, 2020 The COVID-19 pandemic is the defining event for a generation and though its long-term effects remain uncertain, it is fair to say the ‘new normal’ we will return to will be significantly different to that we left. However, change was afoot long before the pandemic altered the way companies think, assess risk and manage their [...]
Coronavirus: A traffic light loosening gives the economy hope April 8, 2020 The strategy of exiting from the lockdown is far too important to be left in the hands of health professionals. The government’s advisors have played very valuable roles in helping to avert the sort of crisis which overwhelmed the health services in Northern Italy. Many who were seriously ill with the virus died unnecessarily because [...]
Coronavirus: The government must outline the way forward April 8, 2020 It is said that it is always darkest before dawn. And with our nation in the grip of the Coronavirus crisis – with the economy sinking, civil liberties restricted, and the peak of infections and deaths approaching – it certainly appears to be a particularly baleful moment for the UK. But rather than dwelling on [...]
Asos shares soar as retailer orders £200m equity raise April 7, 2020 Shares in Asos rose by a third today after the fashion retailer announced a bumper share sale in a bid to shore up its finances during the coronavirus crisis. Asos unveiled plans for a placing of up to 18.8 per cent of issued share capital to protect against a “prolonged downturn” caused by the pandemic. [...]
Wellcome Trust urges firms to donate £6bn to medical coronavirus fight April 7, 2020 Health research charity the Wellcome Trust has urged big businesses to donate £6.4bn ($8bn) to fund treatments, testing and vaccine development to fight coronavirus. Coronavirus has now infected more than 1.3m people around the world and killed more than 74,000. The World Health Organization has urged countries to ramp up testing. Countries are scrambling to [...]
What is ‘fake’ and what is ‘real’ in financial markets? April 1, 2020 I re-watched the Orson Welles docudrama ‘F for Fake’ the other day. The 1973 film is an exploration of what is fake and what is real in the art world. I was curious to see how it held up in the age of fake news. Well, the movie doesn’t have much to say about fake news, but it does [...]
Minimum wage hike to go ahead despite coronavirus pressure on businesses March 31, 2020 The UK minimum wage is set to rise tomorrow as planned despite calls for the government to postpone the increase due to the coronavirus outbreak. The National Minimum Wage will increase 6.2 per cent from £8.21 to £8.72 per hour from 1 April, despite the economic challenges caused by the coronavirus pandemic. However, two thinktanks [...]