Six steps to true racial equality in business August 26, 2020 When we look back at 2020, what will have changed in the business world? I don’t mean social distancing and remote working. I mean actual systemic change: accountability, consequences, promotions, and retention. The combination of coronavirus and the Black Lives Matter (BLM) movement has raised questions about the tech industry’s problem with Black, Asian, and [...]
Virgin Atlantic creditors back crunch £1.2bn bailout deal August 25, 2020 An overwhelming majority of Virgin Atlantic’s creditors have this afternoon approved the embattled airline’s £1.2bn bailout package, a critical step in ensuring the carrier’s survival. In a statement, the carrier said that all four of its creditor classes had voted in favour of the proposal. The vote marks a huge step forward in Virgin’s bid [...]
Virgin Atlantic unveils coronavirus insurance package on eve of crunch bailout vote August 24, 2020 Virgin Atlantic has today unveiled a comprehensive new coronavirus insurance package for all new and existing bookings up until the end of March next year. The new offer was revealed on the eve of a crunch High Court vote on a £1.2bn bailout package that could keep the carrier flying if it is approved. The [...]
A-levels are the tip of the iceberg — biased algorithms are running our lives August 24, 2020 The A-levels debacle has laid bare the stark reality of relying on algorithms to make important decisions. Between the results being announced and the government’s U-turn four days later, public outrage had reached a fever pitch at the idea that an individual could have their life chances limited because of the results other people had [...]
Number of UK workers on furlough falls to 6.8m August 21, 2020 The number of UK employees on furlough fell from highs of almost 10m to 6.8m at the end of June as the coronavirus lockdown eased and staff returned to work. The latest government statistics showed that the number of people being paid through the coronavirus job retention scheme dropped sharply in June as some businesses, [...]
Poll: Britain’s economy won’t recover for at least two years August 20, 2020 Britain’s economy will not fully recover from its current historic downturn for at least two years, a Reuters poll of economists found, but there is only a slim chance the Bank of England will use negative interest rates to boost the upswing. Britain has suffered the highest death toll from the novel coronavirus in Europe, [...]
Cut National Insurance tax after furlough scheme ends, says BCC boss August 19, 2020 The government should cut National Insurance tax once the furlough scheme unwinds in the autumn, a top industry figure has said. Speaking on City A.M.’s The City View podcast, Adam Marshall, director-general of the British Chambers of Commerce, said the Treasury should consider a form of ongoing support for UK firms. “We understand the Treasury’s [...]
BCC: UK businesses face tough outlook after furlough ends August 19, 2020 More than one in three UK businesses have emerged from a bruising lockdown with less than three months’ worth of cash reserves, according to a British business body that warned firms remain “in the eye of the storm”. A survey conducted by the British Chambers of Commerce (BCC) found that business conditions have only slightly [...]
A-levels debacle: Williamson expects to stay in post ‘over the coming year’ August 18, 2020 Education secretary Gavin Williamson has sought to defend the government’s U-turn on A-level and GCSE grading, suggesting the blame lies with the body that decided on the original algorithm. Williamson also said he expected to remain in post “over the coming year”, amid calls for him to step down as a result of the fiasco. [...]
Ex-Flybe shareholders eye legal action against former directors August 17, 2020 Former Flybe shareholders are reportedly examining legal action over a cut-price sale of the budget airline in early 2019. A group of retail investors want to take former directors to court over allegations they put out inaccurate statements, the Mail on Sunday reported. Shareholders received just 1p per share when the airline was sold in [...]