Three lessons law firms can learn from rivals’ collapses amid coronavirus April 30, 2020 Law firm collapses are a lot like bank runs. Confidence in the institution crumbles, causing partners to rush for the exits – taking their capital and clients with them. Partner departures reduce the firm’s revenue, profit and capital, leading to further partner exits in a destructive feedback loop. Once firms enter this death spiral it [...]
Google removes 2.7bn bad ads as it launches Covid-19 taskforce April 30, 2020 Google removed roughly 2.7bn so-called bad ads last year as the tech giant ramps up its efforts to block misleading and malicious campaigns actors on its platform. The search engine’s crackdown, which equates to 5,000 ads per minute, is an increase on the 2.3bn adverts removed in 2018. In addition, Google suspended nearly 1m advertiser [...]
Marketing: How to navigate the choppy waters of Covid-19 April 30, 2020 The last month has been tragic and bizarre in equal measure. The world is currently having to adjust to the COVID-19 pandemic and its heart-breaking effects. And for most people, this will be unlike anything they’ve ever experienced. In the business world, there seems to be a distinct spotlight on companies right now – closely [...]
Astrazeneca partners with Oxford University to manufacture coronavirus vaccine April 30, 2020 Drugs giant Astrazeneca has partnered with Oxford University to manufacture its potential Covid-19 vaccine, the firm announced this morning. The vaccine, which is being developed by the Jenner Institute and the Oxford Vaccine Unit, is one of 70 treatments worldwide that is under development to counter the coronavirus disease. Last week the first human trials [...]
Facebook earnings: Shares leap despite lowest growth since 2012 April 30, 2020 Facebook’s shares jumped almost 10 per cent in after hours trading following a surprisingly upbeat set of first quarter results from the tech giant. Following Alphabet’s figures earlier this week, all eyes were on Facebook to see how the Covid-19 crisis has hit social media. Here are three key takeaways from the numbers: 1. The [...]
Lloyds first quarter profit crashes 95 per cent on coronavirus April 30, 2020 Lloyds Banking Group posted a huge 95 per cent fall in profit for the first quarter of 2020 today as the coronavirus crisis took hold in the UK. Profit before tax slumped to £74m from £1.6bn the previous year as Lloyds took a massive impairment charge of £1.43bn as it expects bad loans to mount [...]
The City View podcast, from City A.M., with Hetan Shah, chief executive of the British Academy April 30, 2020 In this episode of the City View podcast Christian is joined by Hetan Shah, formerly director of the Royal Statistical Society now chief executive of the British Academy – the National Academy for Humanities and Social Sciences. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Hetan discusses the role that economics, [...]
Ad spend to suffer largest ever annual fall as Covid-19 wipes £4bn off market April 30, 2020 UK advertising spend is set to crash by more than £4bn this year as marketing activity grinds to a halt during the coronavirus crisis, marking the sharpest annual fall on record. Total expenditure is forecast at just £21.1bn for 2020, more than £4bn — or 16.7 per cent — lower than last year, according to [...]
Hospitality class action group launches to bring business interruption insurance claims April 29, 2020 A group action for the hospitality sector launched today with the aim of bringing claims against insurers which have failed to pay coronavirus-related business interruption claims. The hospitality insurance group action (HIGA) is open to businesses such as pubs, restaurants, hotels and nightclubs which have been forced to close because of the lockdown and are [...]
Restaurant bosses to beg ministers to extend UK coronavirus lockdown April 29, 2020 Restaurant industry bosses are set to urge the government not to end the UK coronavirus lockdown too soon, warning the move would cause permanent closures. Celebrity chefs Rick Stein and Tom Kerridge are among the restaurateurs to sign a letter to business secretary Alok Sharma and Cabinet Office minister Michael Gove, which will be sent [...]