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Employers to start paying share of furlough scheme
Fri, 29 May 2020 16:11:05 GMT
Firms' contributions will rise to 20% before the scheme finishes at the end of October, says Chancellor.
Virus-hit self-employed to receive second payment
Fri, 29 May 2020 16:11:13 GMT
Applications for a "second and final" grant of up to £6,570 will open in August, the chancellor says.
Renault cuts 15,000 jobs in major restructuring
Fri, 29 May 2020 11:31:59 GMT
The French carmaker announces a €2bn cost-cutting plan after seeing a collapse in sales.
Coronavirus: New mortgage holiday should affect credit record, says Nationwide boss
Fri, 29 May 2020 11:11:26 GMT
The UK's biggest building society says struggling applicants should be flagged to lenders.
Coronavirus: UK sees almost no car manufacturing in April
Thu, 28 May 2020 23:06:19 GMT
Output fell by 99.7% from the same month last year as virus closes car plants.
Twitter hides Trump tweet for 'glorifying violence'
Fri, 29 May 2020 14:09:07 GMT
For the first time, Twitter has hidden a tweet on the president's profile behind a warning.
Nissan backs UK plant but protests erupt in Spain
Thu, 28 May 2020 14:11:04 GMT
Almost 3,000 jobs will be lost in Spain but the carmaker says its Sunderland factory will stay open.
What if the US removes Hong Kong's special status?
Thu, 28 May 2020 18:55:45 GMT
Until now, the US has given Hong Kong favourable trading terms
Biggest UK solar plant approved
Thu, 28 May 2020 16:33:28 GMT
Climate change: Go-ahead for controversial solar farm - the UK's biggest
Will coronavirus change America's jobless stigma?
Thu, 28 May 2020 16:29:42 GMT
In a country where state aid is frowned upon, the number of Americans receiving benefits has skyrocketed.
MPs call for urgent action to save aviation jobs
Thu, 28 May 2020 14:27:15 GMT
A cross-party group adds its voice to concerns about the government's plan to quarantine all arrivals.
Coronavirus: Hardship risk 'could undermine test and trace system'
Thu, 28 May 2020 11:47:27 GMT
The rules and rates of sick pay could leave people feeling compelled to work, unions say.
Coronavirus: EasyJet plans up to 4,500 job cuts
Thu, 28 May 2020 12:24:08 GMT
The airline says up to 30% of its workforce will go as it struggles with the slump in demand for air travel.
Coronavirus: Chancellor set to outline furlough scheme changes
Fri, 29 May 2020 15:13:04 GMT
The government is currently paying part of the wages of more than 8 million furloughed workers.
Coronavirus: Rishi Sunak urged by MPs to extend self-employed help
Fri, 29 May 2020 14:06:58 GMT
A group of 113 MPs and a 100,000-strong petition warn ending a support scheme would cause hardship.
Coronavirus: Harrods hits the shopping mall to stop congestion
Thu, 28 May 2020 11:06:26 GMT
The department store will open at a nearby Westfield centre to ensure social distancing.
Uber destroys thousands of bikes and scooters
Thu, 28 May 2020 10:41:55 GMT
Videos of the red bikes being crushed were shared online after Uber sold its Jump business to Lime.
Trump signs executive order targeting Twitter after fact-checking row
Fri, 29 May 2020 09:18:43 GMT
The US president's move follows a decision by Twitter to add a "fact-check" notice to his tweets.
Charity shops fear deluge of donations when they reopen in June
Wed, 27 May 2020 23:01:51 GMT
Lockdown has inspired mass clear outs but charities ask customers to be selective with donation.
Coronavirus: Vending machine mum's perfect money lesson
Wed, 27 May 2020 23:02:00 GMT
Nurse Sarah Balsdon bought a vending machine, filled it with snacks, then paid her children for chores.
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TradeATF and the Argentine National Team Join in Digital Sponsorship
Fri, 29 May 2020 13:09:00 -0400
TradeATF and the Argentine National Team Join in Digital SponsorshipTradeATF, a well-established and Cyprus-based CFD Broker since 2013. The Broker holding a CySEC license for operation in all EU countries, has officially joined forces with the Argentine National Team through a digital sponsorship.
Peru Gets $11 Billion IMF Flexible Credit Line for Pandemic
Fri, 29 May 2020 13:08:26 -0400
Peru Gets $11 Billion IMF Flexible Credit Line for Pandemic(Bloomberg) -- The International Monetary Fund approved an $11 billion credit line for Peru as the South American nation’s economy endures a slump that may be the deepest in more than a century.The two-year flexible credit line is a precautionary measure that should boost market confidence and provide insurance against downside risks, the fund said in an emailed statement Thursday. Managing Director Kristalina Georgieva praised the nation’s response to the global pandemic.“The authorities have responded decisively by putting in place stringent containment measures and a large policy package to limit the socio-economic fallout, which has been possible thanks to Peru’s ample fiscal space and monetary policy credibility,” she said.Peru becomes the third country in Latin America to receive the credit line after Mexico and Colombia. Neighboring Chile has also requested the same instrument. The credit line is intended for nations with strong fundamentals and a track record of good economic performance and policy, and Chile and Peru were seen as potential recipients ever since it was created in 2009, said IMF Western Hemisphere Director Alejandro Werner.Their requests for the line as the pandemic roils the global economy were “very prudent and very timely,” Werner told reporters Friday during a video call.‘World of Uncertainty’Peru’s central bank said in a statement that it will only use the credit line if an external shock significantly depletes its international reserves and capital inflows.The sol rose 0.2% to 3.429 per dollar at 11:50 a.m. in Lima. The currency plunged to an 18-year low in March as the pandemic triggered a rout in international markets.Peru has implemented the biggest stimulus package in Latin America, equivalent to 17% of gross domestic product, to aid families and businesses. The coronavirus lockdown brought a halt to everything from copper mines to road-building projects, with armed soldiers enforcing nighttime curfews. The nation is suffering the most severe outbreak in Latin America after Brazil, with more than 140,000 cases.Local analysts are forecasting an economic contraction of as much as 15% this year, which would be the worst since the 1880s. The IMF will review its current forecast of a 6.5% drop given the deteriorating global outlook, country head Leo Bonato said on the call.Werner said the credit line will broaden the country’s response capacity in case of a bigger negative shock to trade and financial flows as the global economy faces its biggest recession since the 1930s.“We hope it’s not used, but we’re living in a world of uncertainty,” he said.(Updates with IMF’s official’s comment in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Here's Why We're A Bit Worried About Tracker Ventures's (CSE:TKR) Cash Burn Situation
Fri, 29 May 2020 13:06:54 -0400
Here's Why We're A Bit Worried About Tracker Ventures's (CSE:TKR) Cash Burn SituationJust because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
Hedge Funds Warming Up To Marrone Bio Innovations Inc (MBII)
Fri, 29 May 2020 13:06:19 -0400
Hedge Funds Warming Up To Marrone Bio Innovations Inc (MBII)The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]
Do Hedge Funds Love Huttig Building Products, Inc. (HBP)?
Fri, 29 May 2020 13:06:01 -0400
Do Hedge Funds Love Huttig Building Products, Inc. (HBP)?In this article we will take a look at whether hedge funds think Huttig Building Products, Inc. (NASDAQ:HBP) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get […]
Pot producer Canopy Growth posts dismal results, shares tumble 13%
Fri, 29 May 2020 13:05:47 -0400
Pot producer Canopy Growth posts dismal results, shares tumble 13%The company's U.S.-listed shares fell over 13% in premarket trading and dragged down other stocks in the industry between 2% and 5%. Medical cannabis was the only bright spot, while Canopy's revenue from recreational markets at home in Canada and internationally slumped in double-digit percentages. Ontario-based Canopy Growth's net loss attributable to the company widened to C$1.30 billion ($946.21 million), or C$3.72 per share, in the quarter ended March 31, from C$379.5 million, or C$1.10 per share, a year ago.
Expo body formally approves one-year delay to Expo 2020 Dubai
Fri, 29 May 2020 13:03:00 -0400
Expo body formally approves one-year delay to Expo 2020 DubaiThe World Expo awarding body said on Friday its general assembly had approved a one-year postponement of Expo 2020 Dubai due to difficulties posed by the coronavirus pandemic, and the event would now start in October 2021. Earlier this month the Paris-based Bureau International des Expositions (BIE) said that the required consent of two-thirds of its 170 member states to delay the Expo had been surpassed. "While this situation is unprecedented, the response by the Government of the UAE and by our Member States demonstrates the strong bonds that tie us and the shared commitment we have to delivering a truly inclusive World Expo," BIE Secretary General Dimitri S. Kerkentzes said in a statement.
Wells Fargo reveals new risk management structure
Fri, 29 May 2020 13:02:36 -0400
Wells Fargo reveals new risk management structureThe company said it would also search for CROs for its commercial, consumer and small business, and investment banking arms and also for its wealth management unit. Since taking over the scandal-plagued bank late last year, Chief Executive Charlie Scharf has shaken up its leadership and overhauled the bank's business lines. The bank has had to contend with a federal investigation, a dozen consent orders and an unprecedented Federal Reserve cap on its balance sheet growth as the fallout of a 2016 sales practices scandal.
Virus-hit self-employed to receive second payment
Fri, 29 May 2020 13:01:06 -0400
Virus-hit self-employed to receive second paymentApplications for a "second and final" grant of up to £6,570 will open in August, the chancellor says.
Fed days away from emergency lending to midsized companies
Fri, 29 May 2020 13:01:05 -0400
Fed days away from emergency lending to midsized companiesFederal Reserve Chair Jerome Powell also held open the possibility that the program would be further broadened.
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