High Court rules in favour of struggling firms in business interruption insurance case September 15, 2020 Insurers may have to pay out to hundreds of thousands of British firms who had business interruption claims turned down during the pandemic, following a landmark ruling. The High Court today ruled in favour of policyholders in a test case brought by the Financial Conduct Authority (FCA). The Court ruled on a representative sample of [...]
Treasury set to reject City coronavirus loan refinance plan September 4, 2020 The Treasury is reportedly set to reject a City of London plan for a new state-owned organisation that would refinance the billions of pounds of emergency coronavirus loans lent to UK companies. Chancellor Rishi Sunak is set to rebuff plans put forward by a group led by trade body The City UK and audit firm [...]
Back to business: Top Cuvée’s Brodie Meah on how corona has made people value local restaurants August 29, 2020 We talk to London’s top chefs about how they are dealing with the strange ‘new normal’. This week Top Cuvée’s Brodie Meah talks about missing the buzz of service and taking solace in a spot of wine-tasting. Who are you and what do you do? I’m Brodie Meah and, along with Max Venning, I operate Stoke [...]
Where to eat in London: Old favourites reopening and new places to check out August 29, 2020 Coronavirus may have shuttered the food industry for months, but the business is bouncing back, with more of our favourite places to eat and drink reopening every day, and some new ones joining them too. In this regular column, we’ll bring you the latest news from the front-line of the food business, complete with the [...]
Back to Business: Merlin Labron-Johnson on how Covid could change hospitality for the better August 22, 2020 We talk to London’s top chefs about how they are dealing with the strange ‘new normal’. This week Merlin Labron-Johnson, chef-founder of Osip, speaks about the silver linings he found during lockdown. Who are you and what do you do? I’m Merlin Labron-Johnson and I’m the chef-owner of a little restaurant called Osip in Bruton, [...]
Back to Business – James Cochran on how the pandemic helped him launch a long-planned project August 15, 2020 We talk to London’s top chefs about how they are dealing with the strange ‘new normal’. This week James Cochran speaks about launching a new venture and missing the theatre of service. Who are you? James Cochran, co-owner and executive chef of 12:51, a casual fine dining restaurant in Islington. Around the Cluck is our [...]
Government coronavirus business loans total nears £52bn August 11, 2020 The government has lent nearly £52bn to businesses via its emergency coronavirus loans funding schemes as companies try to weather the pandemic-triggered downturn. Data released by the Treasury today showed the total lent to businesses had hit £51.7bn by 9 August. The bounce back loan scheme (BBLS) accounted for £34.96bn with 1,157,296 facilities approved and [...]
Let’s give our SMEs all the help they need to expand overseas — by tackling unfair payment charges August 7, 2020 Coronavirus has changed our lives, there’s no denying that. But it’s also changed the way a huge number of businesses operate on a daily basis. We’re not just seeing SMEs cope with new track and trace systems and social distancing rules. They’re revolutionising the way they make money, moving operations online, and even going cashless [...]
We’ve relaxed the rules for the Coronavirus Business Interruption Loan Scheme to give our smallest firms a chance July 30, 2020 Our government-backed loan schemes have been a demonstration of what can happen when banks, the government and businesses work together. In a time of extreme disruption and uncertainty, we got much-needed support out to businesses when they needed it most. This protected jobs and livelihoods, and meant that when we were able to start safely [...]
Treasury tells banks to boost coronavirus lending after rule change July 30, 2020 The Treasury has told banks they should be lending more to struggling companies through the main coronavirus loan scheme after changes to EU state aid rules come into effect today. European Union rules had meant some viable British firms with significant debts or that were growing and spending fast were classed as “undertakings in difficulty”. [...]