Treat customers fairly during coronavirus crisis, watchdog tells insurers March 19, 2020 Changes in how the public go about their lives because of the coronavirus pandemic must not make it harder for them to make insurance claims, the financial regulator has warned insurers. The Financial Conduct Authority (FCA) has urged firms to treat customers fairly and be transparent during the outbreak, noting that many consumers will be [...]
Supermarket sweep: Spending data reveals shopper stockpiling and collapse in holiday bookings March 19, 2020 Brits are stocking up on essentials and holding off on booking holidays as the coronavirus pandemic sweeps the country, but they aren’t yet splashing the cash on takeaways, according to data from Starling Bank. The digital bank said customer spending at supermarkets was soaring to levels typically seen at Christmas, with warehouse outlet Costco entering [...]
Manufacturing industry calls for tax deferment as part of coronavirus package March 19, 2020 The British manufacturing industry is calling for an immediate deferment of VAT, PAYE and National Insurance payments as part of a package of measures to tackle the impact of coronavirus. As the prospect looms of thousands of skilled employees being laid off, industry group Make UK has called on the government to delay taxes as [...]
Coronavirus: ‘Zero prospect’ of ban on travel in and out of London, says Downing Street March 19, 2020 Downing Street has said there is “zero prospect” of a ban on travel in and out of London, as part of efforts to slow the spread of coronavirus. This morning Transport for London confirmed it was shutting 40 Tube stations. It will also stop Night Tube operations and close the Waterloo & City Line from [...]
Twitter bans misleading information in coronavirus crackdown March 19, 2020 Twitter has banned users from posting misleading material about the coronavirus outbreak as it ramps up its crackdown on misinformation. In a blog post published last night, the social media firm said it would broaden its definition of harmful content to include anything that contradicts guidance from authoritative sources of global and local public health [...]
Thomas Cook: Taxpayers will pay for next tour firm collapse, says watchdog March 19, 2020 The collapse of Thomas Cook has left the government’s tourism industry fund severely depleted, meaning taxpayers would have to foot the bill if another tour operator falls into insolvency. Thomas Cook’s shock insolvency and the subsequent repatriation of thousands of customers cost the government at least £156m, according to the National Audit Office (NAO). The [...]
UK agrees measures to protect households’ energy supply March 19, 2020 The government and energy companies have agreed emergency measures to safeguard vulnerable households through the Covid-19 pandemic. From today, customers with pre-payment meters who cannot add credit will be able to contact their supplier to agree other options to keep their power on. These could include being sent pre-topped up cards, nominating a third party [...]
Coronavirus: Joules scraps dividend as sales fall March 19, 2020 High street retailer Joules has cancelled its dividend payment in a bid to save cash as sales plunge due to coronavirus. Joules said the decision to scrap its proposed interim dividend will save the firm £700,000 as it attempts to “manage the near term challenges” caused by the outbreak. The brand has suffered a decline [...]
COVID-19: A framework for business response March 19, 2020 | City Talk COVID-19 is fundamentally affecting companies’ ability to operate and plan. The sheer extent of government and central bank support unveiled in the last few days underlines the unique combination of challenges created by this crisis and the degree to which this will impact every part of our lives. Outlined below is a summary of the [...]
Next warns of coronavirus blow to online and high street sales March 19, 2020 High street titan Next has warned coronavirus will produce a “very significant” sales blow in the coming year as travel restrictions dramatically damage the retail sector. Next, considered an economic bellwether, said it is now preparing for a “significant downturn” in 2020. “When the pandemic first appeared in China, we assumed that the threat was [...]