Marketing: What’s your Covid-19 story? May 5, 2020 COVID-19 is having a profound impact on all aspects of the UK economy. It is also changing the rules of corporate communications. The focus for most listed companies right now is getting their house in order with equity raises, dividend suspensions and executive pay cuts. However, attention will quickly turn to adjusting to the new [...]
Coronavirus: The hospitality sector needs more support May 5, 2020 The UK hospitality sector contributes £130bn to GDP per annum and is the third largest employer with 3.2 million workers. Although it is one of the UK’s sectors most brutally impacted by the Covid-19 pandemic, the level of support it has received so far from government is unfortunately not in line with its vital contribution [...]
Taiwan deserves a seat at the WHO table May 4, 2020 As the UK battles the Covid-19, there are lessons that can be drawn from the experience and success that Taiwan has had in containing the pandemic. At first glance, Taiwan would appear to be a potential hotspot. Approximately 850,000 Taiwanese currently work and live in China, with Taiwan experiencing its first Covid-19 case as early [...]
Coronavirus: There are opportunities for wily – and brave – investors May 4, 2020 Britain’s investors could be forgiven for feeling desperate in the current crisis. They have faced a triple whammy from world markets, governments and companies. Not only have they seen the value of their portfolios fall by up to 20%, but with company after company cancelling dividends, their income has fallen by half. Heavyweights such as [...]
Warren Buffett pulls out of US aviation as Berkshire Hathaway hits $50bn loss May 3, 2020 Warren Buffett’s Berkshire Hathaway has sold its entire stake in the four largest US airlines as it posted a quarterly loss of nearly $50bn (£40bn). Buffett yesterday told the company’s annual meeting that “the world has changed” for the aviation industry. Berkshire held large positions in the airlines, including an 11 per cent stake in [...]
FCA goes to court over coronavirus business interruption insurance May 1, 2020 The Financial Conduct Authority (FCA) is seeking legal clarity on the inability of some insurance customers to obtain compensation for disruption amid the coronavirus crisis. Businesses were forced to close their doors and furlough staff after the lockdown measures were introduced in March. The vast majority of businesses did not purchase business interruption insurance and [...]
FTSE 100 ends April in a slump as coronavirus batters Shell and Lloyds April 30, 2020 The FTSE 100 fell dramatically today after oil giant Shell slashed its dividend in response to the plunge in demand for oil amid the coronavirus pandemic and Lloyds profits slumped. The sell-off gathered speed throughout the day, with the FTSE 100 index ending 3.5 per cent lower at 5,901 points. It came after a dramatic [...]
Three lessons law firms can learn from rivals’ collapses amid coronavirus April 30, 2020 Law firm collapses are a lot like bank runs. Confidence in the institution crumbles, causing partners to rush for the exits – taking their capital and clients with them. Partner departures reduce the firm’s revenue, profit and capital, leading to further partner exits in a destructive feedback loop. Once firms enter this death spiral it [...]
Hospitality class action group launches to bring business interruption insurance claims April 29, 2020 A group action for the hospitality sector launched today with the aim of bringing claims against insurers which have failed to pay coronavirus-related business interruption claims. The hospitality insurance group action (HIGA) is open to businesses such as pubs, restaurants, hotels and nightclubs which have been forced to close because of the lockdown and are [...]
US economy shrinks at fastest pace since financial crisis April 29, 2020 The US economy shrank at its fastest rate since the financial crisis in the first three months of the year as coronavirus hammered the country, figures have shown, although analysts warned worse is yet to come. US GDP shrank at an annualised rate of 4.8 per cent in the January to March period, the Bureau [...]