TODAY: Boris Johnson to unveil largest military spending increase in decades November 19, 2020 Boris Johnson will today announce he is tripling a planned increase of the country’s military budget in what will be the largest defence investment in decades. The government will spend an extra £16.5bn on the UK’s military over the next four years, which will take the total increase over this time period to about £24.1bn. [...]
Pfizer-Biontech coronavirus vaccine now 95 per cent effective November 18, 2020 Pfizer and Biontech’s coronavirus vaccine has now proved 95 per cent effective and has met the safety criteria needed for emergency authorisation, the companies said today. The two firms last week published preliminary data showing the vaccine offered 90 per cent protection against Covid-19. But the jab has now met the same efficacy rate as [...]
Why the pandemic and the coming economic downturn will accelerate Bitcoin’s adoption November 18, 2020 In October this year, Mode floated on the London Stock Exchange’s Main Market. Two weeks later, we decided to allocate a portion of the money we raised to purchase Bitcoin as part of our treasury strategy. In doing so, we became the first plc in the UK to officially announce the diversification of our reserves [...]
UK inflation picks up despite lockdowns as clothing prices rise November 18, 2020 Prices picked up across the UK economy in October, the latest figures have shown, with clothing pushing inflation higher after disruption to the sector earlier in the year. Consumer price index inflation came in at 0.7 per cent on an annual basis last month, the Office for National Statistics (ONS) said. That was up from [...]
Pfizer chief insists company did not delay vaccine results until after US election November 17, 2020 Pfizer’s chief executive has insisted the biotech company “didn’t conspire with anyone” to delay releasing its phase three trial results until after the US presidential election. Speaking at a New York Times conference today, Albert Bourla also said the company has already hit the required safety milestone for phase three trials of the vaccine and [...]
Rishi Sunak refuses to disclose whether he will profit from Moderna vaccine November 17, 2020 Chancellor Rishi Sunak has refused to disclose whether he will profit from a surge in Moderna’s share price, after the US biotech firm yesterday announced its coronavirus vaccine proved almost 95 per cent effective in trials. Sunak was a founding partner of London-based hedge fund Theleme Partners — a major investor in Moderna — before [...]
Hospitality boss warns 660,000 jobs lost before second lockdown pushed sector into ‘intensive care’ November 17, 2020 Around 660,000 hospitality jobs were lost this year before the second coronavirus lockdown was implemented, the industry trade body told MPs today The pandemic had already wiped out 20 per cent of jobs in the sector, which was previously the third biggest employer in the country, by the end of September, UK Hospitality boss Kate [...]
Labour’s Anneliese Dodds extends public olive branch to City of London November 17, 2020 Shadow chancellor Anneliese Dodds has today made overtures to the City of London, telling a virtual conference that Labour wants to work with the financial services sector and prevent it from “turning inwards…[and] eschewing responsibility”. Dodds, speaking at a virtual conference for the TheCityUK advocacy group, said Labour understood the value the sector has to [...]
Hospitality supplier Johnson Service Group axes 1,500 jobs November 17, 2020 Johnson Service Group, a provider of workwear and hotel and restaurant linens, has announced it will shrink its headcount by around 1,500 jobs this year, as the impact of the coronavirus pandemic on the hospitality sector sweeps through the supply chain. The Cheshire-based firm said its hotel, restaurant and catering (HRC) division had been badly [...]
Rishi Sunak ‘pushing’ for cut in UK’s aid budget in spending review November 17, 2020 The Treasury is reportedly pushing Number 10 to slash the UK's annual foreign aid budget of 0.7 per cent of gross national income