H&M to close 250 stores as pandemic accelerates shift online October 1, 2020 H&M has announced plans to close around 250 stores globally next year, as the Swedish retailer looks to bolster its online presence following a slump in bricks-and-mortar sales during the pandemic. The announcement comes on top of the 50 H&M stores already permanently shuttered this year, and will likely add to the “tens of thousands” [...]
Coronavirus: Rate of infections falling, largest study in England suggests October 1, 2020 The rate of Covid-19 infections may be falling, preliminary results from the largest coronavirus study in England have suggested, despite the UK’s top scientists yesterday warning that “we don’t have this under control at the moment“. A new study by Imperial College London and Ipsos Mori showed the R rate across the country has fallen from [...]
Why the government must give more support to London’s hospitality sector October 1, 2020 Hospitality and tourism have felt the force of Covid-19 like no other sector. Green shoots started to emerge during the summer months, as Eat Out to Help Out, a staycation boom and the warm weather put much-needed cash in the registers of hotels and restaurants across the UK. While London remained quiet, there was some [...]
Covid-19 has exposed the faults within the broken NHS system October 1, 2020 The NHS Confederation this week raised concerns about the health service’s ability to cope with a second wave and a vast backlog of treatments over the course of the winter, strengthening an already-watertight case for system-level reform of the UK’s healthcare system. Over the course of this crisis, the NHS’s status has reached a new [...]
DEBATE: Will workplace diversity suffer from a new flexible working culture? October 1, 2020 Will workplace diversity suffer from a new flexible working culture? Jo Preston, director & head of people at Teamspirit, says YES One of the silver linings of the coronavirus pandemic has been the corporate pivot towards flexible working. The swiftness with which thousands of employees transitioned from office desks to kitchen tables demonstrated a huge [...]
State-owned bank raised concerns over bounce back loans’ fraud risk September 30, 2020 The state-owned British Business Bank issued formal objections to the government’s coronavirus Bounce Back Loan and Future Fund schemes ahead of their launch, newly-released documents show. In letters sent to business secretary Alok Sharma in May, BBB chief executive Keith Morgan raised concerns including the BBL scheme’s “very significant fraud and credit risks” and whether [...]
Collaboration and compromise, not catastrophe: the key to defusing landlord-occupier tension September 30, 2020 Tensions between commercial landlords and their financially stressed tenants continue to grow, and how landlords respond will be critical to the recovery not only of the real estate sector, but of the wider economy. The government announced a further extension to the commercial rent moratorium, preventing landlords from taking recovery action through until the end [...]
Uber’s back and its rivals will just have to deal with it September 30, 2020 Having scraped by on short-term “emergency licences” for about two years, Uber, the California-based ride-sharing app provider, has been given a “proper” licence to operate in London again, after winning in a crucial appeals case this week. For now, this marks the end of two years of legal limbo. In 2017, Transport for London (TfL) [...]
And this week’s winner for the Stupid Scientist award is… September 30, 2020 Scepticism about the advice given by government scientists about Covid-19 is rising sharply. In areas like Bolton infections are high. Interviews with the locals reveal that so, too, is disbelief in the veracity of the statements made by members of SAGE, the government science advisory group. The scientists, rational beings themselves, may ascribe this to [...]
Measures to suppress Covid-19 are causing untold damage to students and young people September 30, 2020 The motto of the Young Money Blog is “don’t get mad — get informed”. But in recent weeks and months, I’ve found it hard not to get mad. As we try to head into an uncertain and bleak winter, emergency laws designed to curb the spread of Covid-19 are fast becoming a moral and economic [...]