The Festival of Words: From Gyles Brandreth to Anthony Scaramucci – all you need to know about the Fleet Street Quarter festival
Coronavirus: Sunak to head new economic and business response committee March 16, 2020 Prime Minister Boris Johnson has asked his chancellor Rishi Sunak to head up a new committee specifically dealing with the economic fall-out of the coronavirus. The economic and business response committee will consider the impact of Covid-19 as it continues to spread throughout the world, the Prime Minister’s official spokesman confirmed this morning. Business secretary [...]
EU rejects UK’s call for quick agreement on financial services equivalence March 16, 2020 The EU’s head of financial regulation has rejected the UK’s calls for the City’s future access to the bloc’s markets to be settled by the end of June, warning that Brussels’ decision will be based on the extent Britain wants to deviate from EU rules. UK chancellor Rishi Sunak last month called on the EU [...]
CBI boss calls for ‘fast’ action to help businesses March 16, 2020 The boss of the CBI has called for the government to help firms under threat from coronavirus. Dame Carolyn Fairbairn used an appearance on the BBC’s Today programme this morning to highlight the drop in demand facing businesses due to increased social distancing. This comes after the coronavirus crisis continued to escalate. “The severity of [...]
Andrew Bailey takes over with Bank of England battling coronavirus recession March 16, 2020 Andrew Bailey is no stranger to a tough job. But the incoming Bank of England governor, who takes up his new role as Mark Carney steps down tomorrow, could never have anticipated the size of the challenge that awaits him at Threadneedle Street. Bailey’s time at the Financial Conduct Authority began in the wake of [...]
Business on the brink: Airlines, hospitality and train operators in line for state support March 16, 2020 The existential threat to business posed by the Covid-19 pandemic became crystal clear this weekend as a host of industries warned of a potentially fatal cash crunch in the coming weeks. The aviation industry led calls for targeted government support, with train operators struggling with lower passenger numbers and the hospitality industry not far behind. [...]
Coronavirus: Hospitality firms on the brink of collapse as footfall dives March 15, 2020 Struggling hospitality firms could be nearing the brink of collapse due to a dive in footfall across London’s pubs and restaurants this weekend as punters stayed home to avoid the coronavirus outbreak. Hospitality companies are preparing to make redundancies as soon as this week, as visitors to London’s restaurants and bars fell 39 per cent [...]
Economists warn of global recession as coronavirus spreads March 15, 2020 The International Monetary Fund (IMF) says a global recession comes when annual international growth slips below 2.5 per cent. More charitable economists say it has to fall below two per cent. Either way, economists around have warned in recent days, the coronavirus outbreak means the world is heading for one. Covid-19 last week spread rapidly [...]
Sunak and Carney hold banking summit to discuss coronavirus outbreak March 12, 2020 The Chancellor and the Governor of the Bank of England held a banking summit today to discuss a coordinated response to support small and medium sized businesses affected by coronavirus. Mark Carney and incoming BoE Governor Andrew Bailey outlined the measures that the Bank announced yesterday morning to help mitigate the economic impact of the [...]
US stocks regain some ground after Fed pumps trillions into markets March 12, 2020 US stocks pared some of their losses in afternoon trading after the New York Federal Reserve said it would pump more than a trillion dollars into the short-term funding markets. Stocks crashed in early trading after President Donald Trump banned all travel to and from Europe in an effort to contain coronavirus, with the falls [...]
FTSE 100 crashes 10.9 per cent in worst one-day fall since 1987 March 12, 2020 The FTSE 100 suffered its second biggest one day fall in the history of the index, and the worst day since 1987, as it closed down 10.87 per cent. London’s blue-chip index plunged 639 points to close at 5,237 points, as global stocks suffered yet another meltdown after Donald Trump imposed a travel ban on [...]