Coronavirus loan scheme risks ‘wall of redundancies and defaults’ say critics April 7, 2020 The failure of the coronavirus loan programme to help struggling small and medium-sized businesses risks triggering a “wall of redundancies and defaults” say critics.
Exclusive: Just 2,000 UK firms given coronavirus business loans April 7, 2020 Just 2,022 loans have been made to the UK’s small and medium-sized firms through the government’s coronavirus business lending scheme. There have been around 300,000 enquiries so far, meaning a paltry 0.65 per cent have resulted in coronavirus business loans. The latest figures, which were compiled by industry body UK Finance but obtained independently by [...]
Dominic Raab says ‘fighter’ Boris Johnson will beat coronavirus April 7, 2020 Dominic Raab has paid tribute to Prime Minister Boris Johnson, saying “he’s a fighter” and will beat his coronavirus diagnosis. Raab, who is now deputising for Johnson, said at today’s press briefing that the Prime Minister would be “back at the helm” in “short order”. Johnson went into intensive care last night after his coronavirus [...]
Coronavirus: Rishi Sunak to run government if Dominic Raab becomes incapacitated April 7, 2020 Rishi Sunak will take over prime ministerial duties if Dominic Raab becomes incapacitated while Boris Johnson is unable to lead government. Raab, as first secretary of state, is deputising while the Prime Minister is intensive care with coronavirus. A Downing Street spokesman today said that next in the “order of precedence” is chancellor Rishi Sunak [...]
Pub companies urged to help tenants amid coronavirus crisis April 7, 2020 Pub companies have been ordered to do more to support tenants during the coronavirus crisis, after it was revealed that most regulated firms have not offered to waive rents. The Pubs Code Adjudicator, which regulates companies that own 500 or more tenanted pubs in England and Wales, said five out of six firms had not [...]
Demand for UK bonds surges as government funds coronavirus spree April 7, 2020 Investor demand for UK government bonds was its highest for three years today as Britain sold £3.25bn worth of debt to help fund its unprecedented coronavirus support programmes. Buyers bid 3.05 times the £3.25bn available of the 0.125 per cent return three-year Gilt (UK government bond). It sold at an average yield of 0.204 per [...]
Coronavirus: Boris Johnson moved to intensive care after condition worsens April 6, 2020 Prime Minister Boris Johnson has been moved to intensive care after his coronavirus condition worsened, Downing Street has said. The Prime Minister was admitted to St Thomas’ Hospital last night with persistent symptoms of Covid-19. His medical team made the decision to move him to intensive care at roughly 7pm this evening after his condition [...]
Banks ‘being defeated’ by coronavirus business loan scheme April 6, 2020 Concerns are growing about the accessibility of the government’s coronavirus business loan scheme amidst ongoing claims that many small and medium businesses are being denied funds. Just 1,000 businesses, out of almost six million British SMEs, have been granted loans as a part of the £330bn coronavirus business interruption loan scheme (CBIL). Read more: Banks [...]
Coronavirus: Easyjet secures £600m in Bank of England funding April 6, 2020 Easyjet has secured £600m in commercial paper from the Bank of England’s (BoE) new Covid Corporate Funding Facility as the low-cost carrier seeks to strengthen its liquidity during the ongoing coronavirus crisis. Shares in the firm rose 13 per cent after the announcement. Airlines have been among the businesses hardest hit by the pandemic, which [...]
Coronavirus: Banks ‘not stepping up to the plate’ in battle to protect business April 6, 2020 The London Chamber of Commerce has added its voice to calls for the UK’s banks to do more to help British businesses, saying lenders “are simply not stepping up to the plate” in the battle against coronavirus. Over the last week there have been major concerns that despite a hefty package of schemes implemented by [...]