Smith & Nephew revenue slumps as Covid-19 hits elective surgeries May 6, 2020 Medical equipment firm Smith & Nephew saw its revenue almost halve in April as elective surgeries were put on hold due to the coronavirus outbreak. Revenue fell 7.6 per cent to $1.1bn (£885m) in the first quarter as the Covid-19 crisis took its toll in all three of the firm’s global franchises. Smith & Nephew [...]
Metro Bank shares fall despite rise in customer deposits May 6, 2020 Metro Bank experienced a lull in lending over its first quarter but customer deposits jumped by £77m since the end of December, it told investors today. Customers ignored lower interest rates on deposits to store more money with Metro Bank to bring deposits to £14.55bn over the first three months of 2020. Meanwhile, net lending [...]
Virgin Money’s first half profit plunges 60 per cent on coronavirus loan losses May 6, 2020 Virgin Money, formerly CYBG bank, has taken a £164m impairment charge on coronavirus for the first half of 2020 that has sent underlying profit plunging almost 60 per cent. The figures Profit before tax slumped 40.5 per cent from £37m in the six months to March 2019 to just £22m in the six months to [...]
The City View podcast, from City A.M., with Adam Smith Institute director Eamonn Butler May 6, 2020 In this episode Christian is joined by economist Eamonn Butler, co-founder and director of the Adam Smith Institute. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Butler is an advocate of easing the lockdown and warns that the economic impact of the current restrictions will get worse (and harder to [...]
Government scientist resigns after breaking lockdown to meet his lover May 5, 2020 Government scientist, Professor Neil Ferguson, has resigned from his advisory position after the Telegraph revealed he had broken social distancing rules to meet his married lover. Professor Ferguson, who leads a team at Imperial College London, reportedly allowed a woman to visit him in lockdown while advising the public to social distance. The epidemiologist had [...]
Activists and coronavirus: Funds will target devalued firms after crisis May 5, 2020 Much has been made of the comparison between the coronavirus crisis and the global financial crash over a decade ago. The pandemic has left dozens of listed UK companies in need of a lifeline, with the travel and leisure sectors devastated by government-imposed restrictions. FTSE firms across all sectors have witnessed their stocks implode as [...]
Airline body says face masks should be worn on flights to prevent the spread of coronavirus May 5, 2020 The industry body representing global airlines has recommended passengers wear masks on flights to prevent the spread of coronavirus once flying restarts. David Powell, medical adviser to the International Air Transportation Association (IATA), said while normal seat allocation can be maintained, face masks should be worn on board. Some major US airlines have already introduced [...]
London small business boss blasts Barclays over coronavirus loan scheme May 5, 2020 Small businesses are at risk of collapse due to stringent eligibility rules for emergency coronavirus loans, the boss of a London marketing agency rejected for a loan has warned. Richard Cox, co-founder of The Village Communications, accused banks of a “complete lack of interest” in helping small firms that were struggling to stay afloat during [...]
Rival states launch cyber attacks on UK and US coronavirus labs May 5, 2020 British and American spooks have issued an urgent warning after uncovering a string of cyber attacks launched by rival states against healthcare organisations fighting coronavirus. Healthcare bodies, pharmaceutical companies and local government organisations in the UK and US have all been targeted in the attacks, which are aimed at gathering information about the Covid-19 outbreak. [...]
Quicker testing would have been ‘beneficial’ says chief scientific adviser May 5, 2020 The UK’s chief scientific adviser has told MPs it would have been “beneficial” to have ramped up testing for coronavirus quicker. Sir Patrick Vallance told the Commons Health Select Committee that testing alone would not control the virus. The UK government moved away from contact tracing and testing in the community before lockdown started. Instead, [...]