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 [...]
Competitive sectors face the hardest hit from coronavirus March 31, 2020 The package of economic support offered by the Treasury — from a standing start — is one of the most impressive among any western country. But the cascading consequences of the coronavirus crisis mean that there are all kinds of areas where the pleas for help continue to come. Small businesses, for example, are the [...]
Extending the lockdown could have deadly consequences March 29, 2020 A week into what began as a three-week lockdown, the goalposts have been moved. Government ministers and health officials spent the weekend recalibrating expectations, making it clear that people must be prepared for these unprecedented measures to last into June, perhaps longer. The message from the government is that the measures cannot be lifted until [...]
Unemployment to double as coronavirus cripples the economy March 29, 2020 Unemployment in the UK is set to double in the next few months and economists are bracing for the coronavirus outbreak to hit harder than the financial crisis. Despite the government’s attempts to incentivise employers to keep staff on, investment bank Nomura predicts the effect of the pandemic will hit “multiple times that of the [...]
Climate activists: Prepare to win the peace after the coronavirus war March 27, 2020 Winston Churchill may have won the war, but Clement Attlee won the peace. The pill that Churchill swallowed was bittered by the fact that his victory had paved the way for Attlee’s. Without the spirit forged by the collective efforts of wartime, there would have been little appetite to build Attlee’s welfare state when peace [...]
BBC suspends job cuts as it doubles down on pandemic coverage March 25, 2020 The BBC has halted plans to slash 450 jobs as it faces growing demand for its coverage during the coronavirus crisis. The broadcaster said in January it would cut the roles from its news operations as part of a plan to save £80m by 2022. The cuts are set to impact Newsnight, which will produce [...]
Morrisons cuts fuel prices as oil prices dip lower March 23, 2020 Supermarket Morrisons has announced a reduction in forecourt fuel prices. Effective from today, unleaded and diesel will be reduced by 12 and 8p a litre respectively. Morrisons said this will save the average customer £6 on unleaded and £4 on diesel. Although prices vary locally, Morrisons currently charges 116p a litre for unleaded and 118.5p [...]
What does life look like after coronavirus? March 20, 2020 Right now, the priority for all countries must be to confront the immediate challenges of the coronavirus pandemic: ensuring access to healthcare, maintaining the flow of essential supplies, and managing the economic fall-out that risks seeing businesses and individuals devastated through no fault of their own. But historically, periods of national crisis have often been [...]
Bank of England cancels stress tests over coronavirus March 20, 2020 The Bank of England has cancelled this year’s stress test of major banks in Britain, saying it could be hard to implement new global capital rules while lenders are focused on supporting customer lending amid the coronavirus pandemic. The central bank’s decision to scrap the test of the UK’s eight top banks comes after the [...]