Rishi Sunak warns swift economic recovery ‘not obvious’ May 19, 2020 Chancellor Rishi Sunak has poured cold water on hopes that the UK economy will make a rapid recovery from the sharp economic downturn caused by Covid-19. Speaking in front of the Lords economic committee today, Sunak warned it was “not obvious that there will be an immediate bounce back”. “It takes time to get back [...]
Coronavirus loans hit £22bn, but just 50 per cent of CBILS lending approved May 19, 2020 UK banks have only approved 50 per cent of applications to the coronavirus business interruption loan scheme (CBILS), data showed today, even as overall lending hit £22bn. CBILS lending data showed British lenders have distributed that cash to more than half a million UK companies, with over £14bn lent out in the form of bounce [...]
Coronavirus: What is the R number and why does it matter? May 19, 2020 Since the start of the Covid-19 crisis swathes of scientific and epidemiological terms have entered the day-to-day lexicon of normal Brits. One of these is the R number, which we’re told is key to tracking the spread of the virus and determining how and when the lockdown can be lifted. But what is the coronavirus [...]
Almost 40,000 people have died with coronavirus in England and Wales May 19, 2020 Almost 40,000 people in England and Wales have died with coronavirus, according to new figures released today. The Office for National Statistics (ONS) has said the number of people to have died with coronavirus, up to 8 May, was 39,071. Overall deaths in England and Wales in the week up to 8 May were down [...]
UK jobless claims soar by a record 856,000 to 2.1m in April May 19, 2020 UK jobless claims soared 69.1 per cent – or by 856,000 – to 2.1m in April, unemployment data showed today to illustrate the staggering impact of coronavirus on the economy. And the UK unemployment number increased by 50,000 to 1.35m as lockdown started in March, according to the Office for National Statistics (ONS). The ONS [...]
N Brown shares soar as retailer secures £50m coronavirus loan May 19, 2020 Shares in N Brown soared more than 10 per cent this morning as the plus-size clothing retailer said it has secured £50m through the government’s Coronavirus Large Business Interruption Loan Scheme (CLBILS). The firm, which owns Simply Be and Jacamo, also said that trading had improved over the last six weeks since the “sudden and [...]
Shakespeare’s Globe at risk of collapse due to coronavirus crisis May 18, 2020 Shakespeare’s Globe has warned that unless it receives emergency funding it will collapse due to the “devastating” financial impact of the Covid-19 crisis. The London theatre, which has been closed since 20 March, told MPs it had run out of cash and was “critically vulnerable” in the wake of the pandemic. It said it would [...]
Coronavirus crisis set to wipe $17bn off sports sponsorship market May 18, 2020 Global sports sponsorship revenue will fall by $17.2bn (£14.1bn) this year as a result of the coronavirus pandemic, new forecasts have revealed. Total spend is expected to reach just $28.9bn in 2020 — a 37 per cent fall year on year — as scores of live sporting events have been scrapped and businesses look to [...]
Coronavirus: 6,000 jobs at risk as Cafe Rouge and Bella Italia owner faces collapse May 18, 2020 The owner of restaurant chains including Cafe Rouge and Bella Italia has filed notice of intent to appoint administrators, putting 6,000 jobs at risk. Casual Dining Group, which also runs the Las Iguanas chain, said the move will give it 10 working days’ respite as it weighs up potential restructuring options. Earlier today the company [...]
Government considering ‘air bridges’ to countries with similar Covid-19 infection rate May 18, 2020 Transport secretary Grant Shapps has confirmed that the government is considering “air bridges” between the UK and other countries with a low coronavirus infection rate, potentially cutting out the need to quarantine all arrivals. Last weekend Prime Minister Boris Johnson announced that all incoming travellers to the UK would have to be quarantined for 14 [...]