‘We cannot afford another lockdown’: Italy’s cautious return to work May 11, 2020 Italy was the first European country to be hit hard by the coronavirus pandemic and it is now one of the first beginning to ease its draconian lockdown measures to lessen the economic damage of the crisis. Last Monday the country began cautiously moving out of its tough lockdown with factories, building sites and offices [...]
High street suffers biggest ever decline in footfall as Brits obey lockdown May 11, 2020 The UK high street suffered its greatest ever decline in footfall last month as Brits steered clear of shops during the coronavirus lockdown. Retailers were hit with an “unprecedented” 80 per cent plunge in footfall in April, with high streets and shopping centres the worst affected. Retail parks were the most resilient thanks to the [...]
Coronavirus: Top insurance firms could lose $100bn in brand value May 11, 2020 The world’s top 100 most valuable insurance brands could lose as much as $100bn (£81bn) in brand value as a result of the Covid-19 crisis, a new report has revealed. The insurance sector is set to be one of the most severely affected industries and faces a potential 20 per cent loss in brand value, [...]
UK retailers warn government coronavirus aid not enough to prevent ‘imminent collapse’ May 11, 2020 UK retailers have warned that its financial aid package for businesses during the coronavirus crisis will not prevent the “imminent collapse” of many firms. In a letter to the chancellor Rishi Sunak and small business minister Paul Scully, the British Retail Consortium said the crisis “facing parts of the retail sector…must be addressed urgently ahead [...]
French passengers not included in UK quarantine plans May 11, 2020 The UK’s new quarantine measures for incoming passengers will not apply to people coming from France, Downing Street has confirmed. Last night Prime Minister Boris Johnson announced that “it would soon be time” to introduce a quarantine period for all those entering the UK by air. However, after a phone call with French president Emmanuel [...]
Small businesses call for furloughed workers to return to work May 11, 2020 Staff should be allowed to return to work while furloughed to help improve the chances of their employer’s business of surviving the Covid-19 crisis, small businesses have said. In an open letter to chancellor Rishi Sunak, business owners said that while the job retention scheme had helped businesses avoid layoffs, the current plan meant employers [...]
London house market set for £52bn post-lockdown splurge as transactions stall May 11, 2020 London property buyers could be set to splurge £52bn once the lockdown is lifted due to huge pent-up demand as coronavirus brings the market to standstill. The figure represents the potential spend for residential buyers and marks a 20 per cent increase on the same time last year. It comes as the number of lost [...]
Coronavirus: How business responded to Boris Johnson’s lockdown plan May 10, 2020 Business groups have welcomed Boris Johnson’s call for millions of people to return to work but called for clearer guidance on how to maintain safety standards and support furloughed employees. In a speech this evening Johnson said that anyone who cannot work from home — such as those in construction and manufacturing — should be [...]
Boris Johnson sets out new Covid-19 alert levels for lockdown exit May 10, 2020 Prime Minister Boris Johnson has unveiled a new Covid-19 alert system that will measure the level of risk from the pandemic and determine the UK’s lockdown exit strategy. In a speech this evening Johnson said the Covid Alert Level will be determined primarily by the reproductive rate of the virus — known as R — [...]
Virgin Atlantic launches desperate plea for government support as buyout firms circle May 10, 2020 The chief executive of Virgin Atlantic has issued a last-ditch plea for a government bailout as a string of buyout firms circle the troubled carrier. Sir Richard Branson’s airline has failed to impress the Treasury with its request for a £500m taxpayer-funded rescue package, with chancellor Rishi Sunak stating support would be given only as [...]