HSBC receives 12,800 applications for ‘bounce-back loans’ in first few hours May 4, 2020 The UK’s biggest banks have been inundated with requests from small businesses for new coronavirus “bounce-back loans”, with HSBC receiving 12,800 applications in the first few hours of the scheme. The government’s newest coronavirus lending scheme launched today and offers the UK’s smallest companies loans worth 25 per cent of turnover, up to £50,000, just [...]
Hiscox warns of $175m coronavirus insurance hit April 22, 2020 Insurer Hiscox has anticipated paying out up to $175m (£142m) in coronavirus insurance claims arising from restrictions on travel and mass gatherings. The insurer faces a $150m bill if travel restrictions and social distancing measures remain in place for six months from March. And that insurance sum could rise by another $25m if coronavirus restrictions [...]
Government risks ‘wasting taxpayer money’ through emergency loan schemes October 26, 2020 The chair of the Business, Energy and Industrial Strategy committee has criticised the government over its management of emergency loans for businesses affected by the coronavirus pandemic. Darren Jones MP warned that unless ministers “learn lessons” from initial rounds of support, they risk “wasting more taxpayer money”. In particular, he raised concerns over the fact [...]
WAGs to riches: Rebekah Vardy wins first round of High Court battle against Coleen Rooney November 20, 2020 Rebekah Vardy has won the first round in her ‘Wagatha Christie’ High Court battle against fellow footballer’s wife Coleen Rooney, and will receive an initial £23,000 in costs from Rooney. London’s High Court ruled that Rooney’s social media post accusing fellow ‘wife and girlfriend’ (WAG) Vardy of leaking false stories about her to the media [...]
UK consultants paid £100m to advise government on coronavirus August 31, 2020 Some of the UK’s largest consulting firms have reportedly been paid more than £100m to advise the government on its response to coronavirus. Delayed disclosures reveal a total of 106 contracts worth £109m have been agreed between various government departments and consulting firms such as PwC, Deloitte and McKinsey since the pandemic took hold in [...]
Exclusive: ‘Pool Re’ style scheme could help insurers fund Covid-19 cover, says Beazley CEO February 5, 2021 The CEO of insurer Beazley is hopeful that insurers will be able to provide cover against infectious diseases like Covid-19 in the future, but said a government backstop may be needed to press ahead. It is not possible to get insurance on Covid-19-related cancellation cover on events this year, because the chances of an event [...]
UK launches 100 per cent state-backed ‘bounce back’ loans May 4, 2020 The UK’s smallest businesses will be able to apply for 100 per cent state-backed so-called bounce back loans worth up to £50,000 from today. The government’s bounce back loans scheme provides micro loans worth 25 per cent of turnover, up to £50,000, just 24 hours after applying for them. The minimum loan amount is £2,000 [...]
Kodak shares soar 1,500 per cent on coronavirus drug loan July 30, 2020 Shares in Kodak have surged by 1500 per cent since the end of trading last week on the back of a Donald Trump deal that will see the photography company develop drugs to treat coronavirus. Trump made the announcement of the $795m funding yesterday, sending Kodak’s stock price on the New York Stock Exchange soaring [...]
Worried ChatGPT will steal your job? You’ll have to out-think artificial intelligence January 20, 2023 Would you trust ChatGPT to do your job?
Report: UK firms swimming in £70bn of unsustainable debt September 15, 2020 UK firms have racked up £70bn-worth of unsustainable debt, a new report reveals, with more than £20bn of that coming from government-backed Covid schemes. This figure is down on the previous estimation of £102bn, partially due to government stimulus packages introduced this year, data from TheCityUK revealed. Government-guaranteed lending schemes such as the coronavirus business interruption loan [...]