US jobless claims hit 33m since start of coronavirus lockdown May 7, 2020 US jobless claims now stand at 33m since the American economy entered coronavirus lockdown, new figures released today reveal. The Bureau of Labor statistics show another 3.2m US citizens registered jobless claims over the last week. That is a drop from 3.8m the previous week but the number is still jaw-dropping. It means so-called initial [...]
UK firms face ‘Darwinian culling’, warns ad mogul Martin Sorrell May 7, 2020 Scores of British companies face being wiped out in a “Darwinian culling” caused by the coronavirus crisis, advertising veteran Sir Martin Sorrell has warned. In a bleak prediction of the UK’s economic outlook, Sorrell said the country was “dramatically underprepared” for the pandemic and only the strongest firms would survive. “You feel it in the [...]
Are we heading back towards single-use plastic because of coronavirus? May 7, 2020 | City Talk The battle against plastic pollution has rapidly gained momentum in recent years. Our 2018 report – Plastics phase-out: exposure through the value chain – analysed the challenges across sectors beyond the use of carrier bags, microbeads and straws. We concluded that the issue was not just a point of public concern but either an opportunity for forward-thinking [...]
Brits think furlough scheme should last as long as social distancing May 7, 2020 Britons think the government’s furlough scheme should last as long as social distancing, according to an exclusive poll for City A.M. The poll, conducted by Redfield and Wilton Strategies, found that 57 per cent of Britons want the job retention scheme to continue as long as distancing measures are in place, even if for several [...]
Shares in Mirror publisher Reach jump despite Covid-19 revenue hit May 7, 2020 Shares in Daily Mirror publisher Reach jumped as much as 12 per cent this morning as “unprecedented” demand helped to offset investor concerns about a decline in revenue. The newspaper group, which also owns the Daily Express and a host of regional titles, reported a 13.1 per cent decline in revenue in the four months [...]
Government will extend furlough beyond June if needed, says minister May 7, 2020 The government is committed to extending the job retention scheme beyond the end of June if required to support workers currently on furlough, a minister said today. Northern Ireland secretary Brandon Lewis said the government would not end furlough abruptly at the end of June if it is clear employees will continue to need support. [...]
S4 Capital shares rise as advertising firm shrugs off Covid-19 hit May 7, 2020 Shares in S4 Capital rose as much as six per cent in early trading as the advertising firm boosted first-quarter revenue despite the impact of the coronavirus crisis. S4 Capital’s like-for-life revenue increased 17 per cent in the first three months of the year to £71m, while gross profit was up 22 per cent on [...]
Insurer RSA posts double-digit profit rise but expects £25m coronavirus hit May 7, 2020 FTSE 100 insurer RSA today said it expected its exposure from the coronavirus pandemic to total around £25m, with claims coming from travel, wedding and event cancellation insurance. The home, motor and commercial insurer had received around 25,000 claims on which it would pay out, of which around 23,000 were travel claims, it said in [...]
The City View podcast, from City A.M., with Andy Clarke, former CEO of Asda May 7, 2020 In this episode Christian is joined by Asda’s former CEO, Andy Clarke, now chairman of AI-powered retail system Spoon Guru. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Andy reflects on the way in which the supermarket and grocery sector responded in the early stages of the pandemic, with panic [...]
Government misses testing target for fourth consecutive day May 6, 2020 The government has missed its target for coronavirus testing for the fourth day in the row, after just 69,463 tests were carried out yesterday. In the Downing Street daily briefing, communities secretary Robert Jenrick confirmed 69,463 tests had been carried out in the past day. More than 30,000 people have died from coronavirus in the [...]