Engineering is essential to addressing the coronavirus crisis March 31, 2020 At first it seemed – at least in commentary – that dealing with the Covid-19 crisis was mainly a task for epidemiology, medical and public health experts, and they continue to lead the global effort to combat the outbreak. But the cross-sector scale of the challenge became apparent last week with the UK government’s appeal [...]
ECB financial supervisor calls on banks to cut bonuses due to coronavirus March 31, 2020 Banks should exercise “extreme moderation” on bonus payments this year, according to Europe’s top financial supervisor, who also threatened to intervene if lenders fail to show restraint. Andrea Enria, chair of the European Central Bank supervisory board, said he hoped banks would limit payouts and avoid the need for the ECB to take action, but [...]
Coronavirus: Aldi, Morrisons and Waitrose ease stockpiling restrictions March 31, 2020 Supermarkets have begun to ease restrictions on the number of productions shoppers can purchase as availability has improved following a spike in coronavirus-related stockpiling. All major UK supermarkets were forced to limit the number of items customers could buy earlier this month, to combat an increase in panic buying. Aldi announced this morning that, while [...]
Coronavirus: Monzo boss won’t take salary for year as staff offered furlough March 31, 2020 The chief executive of Monzo will not take a salary for a year as the digital challenger bank introduces pay cuts for executives and offers staff voluntary furlough amid the coronavirus crisis. In an internal memo, Tom Blomfield told Monzo’s 1,500 employees he would forgo a salary for the next 12 months, with the lender’s [...]
Coronavirus: Tesco adds 100,000 online delivery and collect slots March 31, 2020 Tesco has boosted the number of online delivery and click and collect slots by more than 100,000 as the supermarket scrambles to meet an “unprecedented” surge in demand during the coronavirus crisis. The grocer today said it has increased capacity from 660,000 slots two weeks ago to 780,000 this week. And it plans to add [...]
Houseparty offers $1m reward amid claims of smear campaign March 31, 2020 Video chat app Houseparty today said it was offering a $1m (£809,000) reward for any evidence the company had been targeted by a commercial smear campaign. The online rumour mill has gone into overdrive in recent days, with social media users alleging that their email, Spotify and Netflix accounts had been hacked after downloading Houseparty. [...]
Rothschild warns of financial hit from coronavirus and halts dividend March 31, 2020 Historic bank Rothschild & Co has said it won’t propose a dividend at its 2019 annual general meeting, and warned that the coronavirus pandemic will hit its results as the virus batters businesses and markets across the world. Rothschild said it would pay out the planned €0.85 per share for 2019 “when appropriate”, but became [...]
What impact is Covid-19 having on global economies and markets? March 31, 2020 | City Talk The impact of the new coronavirus (Covid-19) pandemic continues to play out. The extent to which the virus will spread, both between and within countries remains unclear, and the duration and impact are highly uncertain. Sadly, the human impact continues to grow, and the virus has now claimed the lives of over 22,000 people, as [...]
Brits spent an extra £1.9bn in stockpiling spree before coronavirus lockdown March 31, 2020 Brits made over 79 million extra trips to supermarkets in the four weeks leading up to the coronavirus lockdown, as people rushed to stock up on groceries ahead of restrictions being introduced, according to industry data. The stockpiling drove a 20.5 per cent jump in supermarket sales up to 21 March, with customers spending an [...]
AA suspends dividend to brace for possible coronavirus blow March 31, 2020 Repair firm the AA today cancelled its 2019 dividend as it sought to protect itself from the coronavirus outbreak. The company said it has not yet seen any impact from coronavirus, but suspended its final dividend at it outlined multiple future risks. Investors will still receive an interim dividend payment of 0.6p per share. The [...]