Watchdog slams Number 10 for failing to prepare Brexit borders November 6, 2020 The UK faces “widespread disruption” after the government failed to prepare for post-Brexit border controls for British businesses, the public spending watchdog has warned. In an 85-page document released today, the National Audit Office (NAO) slammed the government for insufficient customs brokers, unprepared border sites and failure to develop adequate customs software. The report found [...]
Rishi Sunak extends furlough scheme until end of March November 5, 2020 Chancellor Rishi Sunak has extended the furlough scheme until the end of March, following days of wrangling over fresh financial support for businesses during the second national lockdown. The furlough scheme, which was due to wind down last Saturday, will be rolled out for the next five months — a year after it was first [...]
Trainline posts £40m loss as passenger numbers evaporate November 5, 2020 Trainline this morning posted a £43m loss as the coronavirus pandemic hammered the number of passengers making rail journeys. In its first half results, the FTSE 250 firm said that sales fell 81 per cent to £358m in the period to the end of August, including the three month initial lockdown in the spring. Passenger [...]
Lloyds ramps up cost-cutting measures, axing 1,000 more jobs November 4, 2020 Lloyds is set to axe over 1,000 jobs, as Britain’s biggest domestic lender ramps up cost-cutting efforts despite returning to profitability during the third quarter. Lloyds will cut 1,070 roles across its commercial and retail bank and has announced plans to create 340 new positions. Read more: Lloyds profit beats forecasts on pandemic mortgage boom [...]
Online shopping boom could cause Christmas chaos, Post Office warns November 3, 2020 A boom in online shopping and parcel deliveries could cause Christmas chaos this festive season, the Post Office said as it warned the public to send their gifts earlier than usual to avoid a last-minute rush. More than a fifth of Brits have already decided to send presents through the post rather than give them [...]
Office space provider IWG revenue drops as it closes sites November 3, 2020 Office landlord IWG has posted a decline in revenue over the third quarter as it continued to close sites due to the “unprecedented storm” of the coronavirus pandemic. The FTSE 250 firm posted a 14.3 per cent drop in revenue to £583.3m in the three months to the end of September and warned support measures [...]
After four years, Trump has yet to master the art of the diplomatic deal November 3, 2020 “We can’t continue to allow China to rape our country,” Donald Trump urged crowds at a campaign rally in Indiana, months before his surprise 2016 election victory. As America once more heads to the polls today, the rest of the world can only stand by and watch. And while Joe Biden appears to be leading, [...]
Racing against time: The UK-US trade deal and the 2020 election November 2, 2020 WASHINGTON, D.C. – International trade secretary Liz Truss recently made it clear that the UK needed to close a US trade deal by mid-2021 if it was going to happen any time soon. In July, the US government’s Trade Promotion Authority -which allows trade deals to be passed through Congress without being amended – will [...]
Half of British companies expect permanent flexible working post-Covid November 2, 2020 Almost half of Britsh companies think their staff will be allowed a flexible working arrangement into the future while almost seven in ten say they will ramp up efforts to get to net zero carbon, according to new polling. A CBI/Ipsos Mori poll found that 79 per cent of companies said their staff worked entirely or almost [...]
Tech stocks drag down Wall Street as FTSE 100 suffers worst month since March October 30, 2020 Sliding tech stocks dragged down Wall Street this afternoon, while the FTSE rounded off its worst monthly fall since March amid a wave of new coronavirus lockdowns. The three main US indexes were on course for their worst week since March as ongoing pandemic-related uncertainty and the looming presidential election sparked market volatility. Read more: [...]