US senate unanimously approves $58bn package for airlines March 26, 2020 Late last night the US senate voted unanimously in favour of a $58bn (£49bn) rescue package for its struggling aviation industry, which has been decimated by the plunge in travel demand caused by coronavirus. Almost half – $25bn of the total package – comes in the form of grants, which airlines will use to continue [...]
Intu sees rent payments dive amid UK coronavirus crisis March 26, 2020 Struggling retail landlord Intu has received less than a third of rent due for its second quarter as retailers struggle to pay the bills amid the UK coronavirus crisis. That forced it to abandon 2020 guidance as its incredibly low shares dropped three per cent to under 4p. The government has ordered almost all shops [...]
Coronavirus: FTSE 100 falls ahead of US unemployment figures March 26, 2020 The FTSE 100 has fallen in early trading after two consecutive days of gains as investors await what is set to be dire US jobs data and an interest rate decision by the Bank of England. Britain’s main stock index was down 2.8 per cent at 5,530 points. It had climbed five per cent yesterday [...]
BoE and Treasury to resume coordinated response to prevent coronavirus slump March 26, 2020 The Bank of England (BoE) and Treasury will resume their coordinated drive to prevent the coronavirus-related economic shutdown from triggering a deep recession. The BoE, which has already made two emergency cuts to interest rates this month, is reportedly likely to hold off on further action when it makes a statement at noon after its [...]
Zoopla: Coronavirus could send UK house prices plunging March 26, 2020 UK house prices could plunge dramatically as the coronavirus outbreak causes demand to dry up, Zoopla has warned. The spread of Covid-19 is already having a big effect on the market, causing a 40 per cent drop in demand for housing in the seven days to 22 March, according to data from property website Zoopla. [...]
Time for a staycation? Mortgage payment holidays explained March 26, 2020 As part of its plan to reduce the economic damage done by staying at home during the coronavirus outbreak, the government has granted a holiday on what is many people’s biggest outlay: mortgage payments. For three months, those who are paying off their mortgage will get a temporary break from their monthly payments, one of [...]
Coronavirus crisis is putting the public good back at the heart of commerce March 26, 2020 Conservative chancellors are not usually known for their inspirational quotes. Rishi Sunak, however, channelled the mood of the nation when he unveiled his bold package to tackle the coronavirus crisis. Ending his speech on a stirring note, he set out how history would judge our response, highlighting the acts of kindness and decency that would [...]
Coronavirus: UK airlines ask government to waive regulatory charges March 25, 2020 The UK’s airlines have again called for the government to implement rescue measures to protect the industry against the impact of coronavirus, which has decimated the sector. The plea comes despite chancellor Rishi Sunak yesterday telling firms that state aid would only be considered as a “last resort” after they had exhausted other means of [...]
Self-employed bailout: What a freelancer coronavirus package could contain March 25, 2020 Rishi Sunak will tomorrow announce an economic relief package to assist Britain’s five million self-employed workers during the coronavirus outbreak. The package comes come a week after Sunak announced a raft of measures to help businesses and workers suffering from the fallout from Covid-19. Included among the measures was a guarantee to pay 80 per [...]
Coronavirus: London City Airport suspends all flights March 25, 2020 London City Airport has suspended all flights in and out of the airport for the foreseeable future. The airport will stop all commercial and private flights from this evening due to the fallout from the coronavirus. The airport only had a handful of flights today, with numbers sharply decreasing due to the travel restrictions imposed [...]