Coronavirus: Government pledges ‘whatever it takes’ to help British businesses March 17, 2020 The government has pledged to do “whatever it takes” to support a greater number of British businesses and individuals as the coronavirus outbreak causes major economic disruption. Chancellor Rishi Sunak said government would “stand behind businesses small and large”, pledging government-backed and guaranteed loans “to get through this”. The loan package totalled £330bn, equivalent to [...]
Brexit talks scrapped as coronavirus escalates March 17, 2020 The second round of trade talks between the UK and the EU have been cancelled in light of the escalating coronavirus outbreak. Negotiating teams led by David Frost on the UK’s side and Michel Barnier on the EU’s were due to meet in London tomorrow to continue to thrash out a deal to set the [...]
Britain’s biggest banks warn coronavirus pandemic will hit income March 17, 2020 Some of the largest banks in Britain have warned the coronavirus pandemic will hit their already under-pressure earnings, with a decline in economic activity eating into fee income. Lloyds will delay part of a £3bn technology investment programme in response to the coronavirus pandemic to maintain its capital levels, its chief executive said today, as [...]
Coronavirus: Elderly should stay away from Mother’s Day lunch March 17, 2020 The over-70s should avoid Mother’s Day lunch with their children and grandchildren the chief scientific adviser has said today, as he warns that 20,000 coronavirus-related deaths would be “a good outcome”. Sir Patrick Vallance, who has been one of the two chief medical experts to appear alongside Prime Minister Boris Johnson during recent press conferences, [...]
Coronavirus: UK horse racing suspended until end of April March 17, 2020 Horse racing in Great Britain has been suspended until the end of April due to the coronavirus outbreak. The decision by the British Horseracing Authority (BHA) will become effective tomorrow. It marks the latest major sporting event to fall victim to the health crisis as authorities ban mass gatherings in a bid to halt the [...]
London Metal Exchange plans to suspend ring trading amid coronavirus outbreak March 17, 2020 The London Metal Exchange (LME) is planning to suspend open outcry trading and shift its business entirely on to electronic systems for the first time in its 143-year history to limit the spread of coronavirus. The LME said today that it expects to temporarily shutter Europe’s largest open-outcry trading venue next Monday to protect traders [...]
Business figures urge government to take swift action to mitigate coronavirus impact March 17, 2020 Some of the country’s top business figures have urged the government to take swift action to help mitigate the impact of the coronavirus on business in the UK. Speaking to the BEIS committee today, the CBI’s chief economist Rain Newton-Smith said: “We need swift action now to try and protect as many jobs as possible,” [...]
Coronavirus: Major cinema chains close all sites March 17, 2020 The UK’s major cinema chains have announced they will close immediately after the government yesterday ramped up the fight back against coronavirus. Odeon, Vue, Picturehouse and Cineworld have all announced the closure of all their sites across the UK, while London’s BFI Southbank has also temporarily shut after the public were told to avoid public [...]
Coronavirus: France could nationalise big companies if necessary, says finance minister March 17, 2020 The French government is prepared to “use all means available” to support big companies struggling with the impact of market turmoil linked to coronavirus, including nationalisation, the finance minister said today. “I won’t hesitate to use all means available to protect big French companies,” Finance Minister Bruno Le Maire said on a call with journalists [...]
FTSE 100 slides after brief rebound following G7 coronavirus pledge March 17, 2020 The FTSE 100 has dropped back into the red, having initially recovered some of yesterday’s losses following a pledge from G7 leaders to do “whatever is necessary” to fight the coronavirus pandemic. Britain’s blue chip index gained as much as three per cent immediately after the open, but had fallen back into the red just [...]