Airline bosses say worst is yet to come as more flights cancelled on coronavirus fears March 3, 2020 Airline bosses have warned that the worst is yet to come for the industry after coronavirus fears saw passenger demand slump, with carriers cutting flights to locations round the world. Speaking at an industry conference in Brussels, outgoing IAG boss Willie Walsh said that there had been “a very significant fall-off in demand” in Italian [...]
Andrew Bailey takes over with Bank of England battling coronavirus recession March 16, 2020 Andrew Bailey is no stranger to a tough job. But the incoming Bank of England governor, who takes up his new role as Mark Carney steps down tomorrow, could never have anticipated the size of the challenge that awaits him at Threadneedle Street. Bailey’s time at the Financial Conduct Authority began in the wake of [...]
Competitive sectors face the hardest hit from coronavirus March 31, 2020 The package of economic support offered by the Treasury — from a standing start — is one of the most impressive among any western country. But the cascading consequences of the coronavirus crisis mean that there are all kinds of areas where the pleas for help continue to come. Small businesses, for example, are the [...]
Economists warn of global recession as coronavirus spreads March 15, 2020 The International Monetary Fund (IMF) says a global recession comes when annual international growth slips below 2.5 per cent. More charitable economists say it has to fall below two per cent. Either way, economists around have warned in recent days, the coronavirus outbreak means the world is heading for one. Covid-19 last week spread rapidly [...]
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 [...]
FTSE 100 falls as coronavirus stimulus rally runs out of steam March 27, 2020 Britain’s FTSE 100 stock index tumbled today after three consecutive days of gains as uncertainty about the effects of coronavirus returned to the fore. The FTSE 100 closed 5.3 per cent lower at 5,510 points. It had risen more than 16 per cent over the previous three days after the US launched a $2 trillion [...]
Coronavirus loan scheme risks ‘wall of redundancies and defaults’ say critics April 7, 2020 The failure of the coronavirus loan programme to help struggling small and medium-sized businesses risks triggering a “wall of redundancies and defaults” say critics.
Budget 2020: What is on the pensions industry’s wish list? March 4, 2020 As Rishi Sunak, the new chancellor, prepares for his first Budget next week, the pensions industry will be watching what happens with eagle eyes. Reports have circulated that the government, emboldened by its landslide General Election win last year, could bring in sweeping changes to how some people save for retirement. Some predict that Sunak [...]
No laughing matter: The impact of coronavirus on London’s standup comics March 30, 2020 One of the benefits of living in a vibrant metropolitan city like London is seeing live entertainment. For many, the highlight of their week — before the coronavirus crisis — was enjoying standup comedians at pubs, open mic nights and comedy clubs across the capital. As well as being a source of entertainment, live comedy [...]
Government now assuming a no-deal Brexit and increased borrowing July 28, 2019 Michael Gove has said today that the new government will “operate on the assumption” of a no-deal Brexit on 31 October. Read more: Tories get ‘Boris bounce’ in polls but pledge to focus on Brexit Meanwhile, the chancellor’s deputy, Rishi Sunak, today insisted that Britain can pay for the costs of no deal with extra [...]