Business groups warn London lockdown would ‘crumble’ capital as mayor calls for support October 15, 2020 A London lockdown would “crumble” businesses and turn the capital into a “ghost town”, leading business bodies have warned City A.M, as fresh restrictions are likely to be imposed on the city in the next few days.
EU watchdog proposes software capital relief to increase banks’ safety buffers October 14, 2020 The European banking watchdog has proposed allowing lenders to include the value of software investments in capital calculations, a move that could increase banks’ capital buffers by billions of euros. The European Banking Authority (EBA) said lenders will be allowed to “amortise” or taper the value of software for capital purposes over three years. Under [...]
Working from home takes toll on younger generations, survey finds October 14, 2020 Working from home is disproportionately affecting young people, according to new research, as fears of fresh local lockdowns around the country continue to hamper a return to the office. More than 85 per cent of 1,500 office workers surveyed by design firm Oktra said they struggled with the switch to homeworking during the pandemic. Younger [...]
Travel industry calls for ‘decisive’ action on airport testing October 14, 2020 The UK travel industry has urged the government to “act decisively” in putting in place airport coronavirus testing in order to save the £60bn industry. Trade body ABTA also called for ministers to provide targeted support for travel companies, many of which have been without any revenue this year. New figures from the association showed [...]
OECD: UK should focus on unemployed until recovery established October 14, 2020 The UK should do more to help those who have lost their jobs during the coronavirus pandemic and wait to fix the hole in its public finances until the recovery is underway, the Organisation for Economic Co-operation and Development (OECD) said. The UK’s economy is at “a critical juncture”, the organisation warned in an annual [...]
City law firms repay furlough cash following strong business during pandemic October 14, 2020 Several large British law firms have handed back government furlough cash after seeing stronger-than-expected business during the pandemic. Square Mile-based firms Norton Rose Fulbright, Osborne Clarke and Herbert Smith Freehills have all paid back wage subsidies handed out by the chancellor, following strong demand for their legal services during the coronavirus crisis. Chancellor Rishi Sunak [...]
Just Eat Takeaway’s order growth surges as delivery demand continues to soar October 14, 2020 Just Eat Takeaway (JET) said the surge in online food orders caused by the coronavirus pandemic continued into the third quarter, with orders jumping 46 per cent compared to a year earlier. Order growth accelerated from the jump of 32 per cent the European food delivery giant recorded in the first half of 2020. In [...]
More than half of London businesses ‘are not prepared’ for local lockdown October 13, 2020 Almost 60 per cent of London businesses have no plan in place for a local lockdown, according to new research, as the London mayor today warned the capital could see tighter restrictions within the next few days. Only 41 per cent of companies in the capital currently have a plan in place to deal with [...]
The mayor must speak up for ambitious Londoners and for businesses — not call for further restrictions October 13, 2020 Sadiq Khan is arguably under more scrutiny — and subject to some of the harshest criticism — than any politician in the country. Much of it is unfair. London remains a city with an illusion of a mayor, rather than one with the power to make decisions for the good of the city and its [...]
Enough with the fear — it’s time we began to accept this virus October 12, 2020 Covid-19 is the biggest change we have experienced for generations. And like every major change that is forced upon us, the secret to success is to overcome our fears and begin to accept it.