Shadow chancellor backs long-term UK coronavirus jobs programme May 28, 2020 Shadow chancellor Anneliese Dodds has pushed for the government to back a UK-wide post-coronavirus jobs programme to deal with expected high unemployment. In an interview with City A.M. Dodds said that the government needed to place a greater emphasis on “upskilling and redeployment” in its response to Covid-19 and should look to Gordon Brown’s Future [...]
Boris Johnson: Post-coronavirus jobs programme ‘very likely’ May 27, 2020 Boris Johnson has said it is “very likely” the UK will embark on a post-coronavirus jobs programme, similar to the Future Jobs Fund brought in after the 2008 financial crash. The Prime Minister said the scheme would likely be implemented in order to create “high class jobs, good jobs, for the country”. Unemployment is expected [...]
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature May 19, 2020 As more evidence of impressive institutionally compliant behaviour shows itself in the crypto world, it’s more juvenile side is exposed as J.K.Rowling inadvertently starts a crypto Twitter storm. Price Watch Bitcoin (BTC) trading volume hit a new high for 2020 with an average (on the top ten exchanges only) of US$2-3bn per day through May, [...]
Shakespeare’s Globe at risk of collapse due to coronavirus crisis May 18, 2020 Shakespeare’s Globe has warned that unless it receives emergency funding it will collapse due to the “devastating” financial impact of the Covid-19 crisis. The London theatre, which has been closed since 20 March, told MPs it had run out of cash and was “critically vulnerable” in the wake of the pandemic. It said it would [...]
When will the UK economy recover from coronavirus? May 15, 2020 The UK economy is set for its worst contraction since at least the Great Depression this year as the coronavirus lockdown brings activity to a halt. There’s little doubt about that. There is doubt about what comes next, however. Economists have made huge numbers of predictions, using an array of letters to describe the recovery. [...]
House price decline hurts Just Group’s solvency ratio May 14, 2020 Specialist pension provider Just Group posted a drop in its solvency ratio today after interest rates plunged around the world over the economic fallout of coronavirus. The insurer told investors its Solvency II coverage ratio has dropped three points to 138 per cent at the end of April 2020. European Solvency II rules stipulate how [...]
Easyjet founder offers £5m reward for Airbus deal ‘whistleblower’ May 12, 2020 Easyjet’s founder Stelios Haji-Ioannou is offering a £5m reward to any “whistleblower” who can provide information leading to the cancellation of the airline’s 107-plane deal with Airbus. Haji-Ioannou has been attempting to force Easyjet’s board into scrapping the deal for months, saying the £4.5bn deal will leave the carrier without enough cash to survive the [...]
Virgin Atlantic launches desperate plea for government support as buyout firms circle May 10, 2020 The chief executive of Virgin Atlantic has issued a last-ditch plea for a government bailout as a string of buyout firms circle the troubled carrier. Sir Richard Branson’s airline has failed to impress the Treasury with its request for a £500m taxpayer-funded rescue package, with chancellor Rishi Sunak stating support would be given only as [...]
Could group action claims explode in post-coronavirus crisis litigation boom? May 7, 2020 Lawyers and litigation funders are increasingly looking at group action lawsuits in England and Wales as a way of holding major companies to account. After the last financial crisis litigation spiked as contractual counterparties fell out and consumers and shareholders pursued banks for wrongdoing. The litigation landscape in the English legal system has changed over [...]
Real Estate: COVID-19 may permanently quarantine inflexible leases May 5, 2020 Real estate leases have long represented a point of disagreement between accountants and financial analysts. This disagreement was the primary reason why the London-headquartered International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) went separate ways in finalising lease accounting standards. Figure 1. Lease Accounting Survey Report (October 2013) For a [...]