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 [...]
Government urged to help property market recover amid UK house price slump May 14, 2020 The government has been urged to provide measures to help the property market to recover, after the latest research warned that UK house prices are set to plunge this year. The Royal Institution of Chartered Surveyors (Rics) reiterated its call for a stamp duty holiday to encourage buyers , warning that UK house prices were [...]
UK house market to restart as government relaxes regulations May 12, 2020 The government has relaxed lockdown rules from tomorrow to allow the UK house market to restart. Under the new regulations people will be able to visit estate agents, view properties and move house without breaking lockdown rules. Those involved will be expected to observe social distancing rules and wear gloves or masks where necessary. The [...]
London house market set for £52bn post-lockdown splurge as transactions stall May 11, 2020 London property buyers could be set to splurge £52bn once the lockdown is lifted due to huge pent-up demand as coronavirus brings the market to standstill. The figure represents the potential spend for residential buyers and marks a 20 per cent increase on the same time last year. It comes as the number of lost [...]
Coronavirus: London’s NHS Nightingale to be placed ‘on standby’ May 4, 2020 London’s NHS Nightingale is being put “on standby”, with no new coronavirus patients expected at the temporary hospital. The Prime Minister’s spokesman said today that the makeshift hospital, located at the Excel centre, was being mothballed due to limited demand. The hospital was built to handle up to 4,000 Covid-19 patients, however fewer than 20 [...]
Sketch: The tech giants dance to their own tune in Zoom parliament April 30, 2020 “Have you ever met Mark Zuckerberg?” the culture select committee asks, wasting no time in getting to the real issues about the spread of fake news during the coronavirus crisis. Facebook’s UK public policy manager, a bespectacled millennial sat predictably next to a potted plant, looks nonplussed via webcam. “I have seen him,” he says [...]
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 [...]
Housebuilding set to drop 35 per cent in 2020, says report April 27, 2020 Coronavirus lockdown measures will mean 35 per cent fewer houses will be built in the UK in 2020 than originally planned, according to a new report, a fall likely to add to the stresses in the British housing market over the coming years. Property consultant Knight Frank predicted in a new report that around 104,000 [...]
Law firms face ‘bloodbath’ in upcoming coronavirus recession April 23, 2020 Advisers who worked on some of the largest UK law firm collapses predict a “bloodbath” for the legal industry as a result of the coronavirus economic crisis. Andy Hosking of Quantuma, who acted as administrator to King & Wood Mallesons Europe (KWM) and Ince & Co, said: “You are going to see a bloodbath in [...]
Law and accountancy firm coronavirus partner promotions: a poisoned chalice? April 22, 2020 Law and accountancy firms have promoted swathes of new partners in recent days with many firms hailing the strong rounds as a signal of confidence in the future. But with new partners typically required to stump up £50,000 to £100,000 to join partnerships, it is a potentially risky step up for the individual during the [...]