Business owners feel let down by banks and say the Government’s business interruption loan scheme ‘isn’t working’ (Picture: PA) Small business owners say the Government’s emergency coroanavirus loan scheme is failing them as banks including HSBC, NatWest, Barclays and Lloyds ‘take advantage’ of them at their most vulnerable. Last month Chancellor Rishi Sunak announced an […]
Banks suspend dividends to save money amid coronavirus pandemic
Barclays, Lloyds and NatWest said they would not be returning money to shareholders (Picture: APF, Reuters) Britain’s biggest banks including Barclays, Lloyds and NatWest said they would not return money to shareholders via dividends until the end of the year due to the coronavirus outbreak. It comes after a request from the Bank of England’s […]
Businesses can now get state-backed loans of up to £5,000,000 during outbreak
Loans of up to £5,000,000 per SME can be accessed below the brand new scheme (Picture: Getty Images/Reuters) A pair of authorities schemes to assist companies of all sizes hit by the coronavirus outbreak are now open. The Coronavirus Business Interruption Loan Scheme (CBILS) can present state-backed loans of up to £5 million to small […]
Cineworld reviewing staff dismissals after Rishi Sunak’s pledge to pay 80% of salaries
Cineworld closed throughout the nation this week (Picture: Backgrid) Cineworld is ‘exploring’ how to help members of staff dismissed amid the coronavirus pandemic after the federal government pledged to pay 80% of workers’ wages. Earlier this week the chain started shedding staff with rapid impact as cinemas throughout the UK closed. It will not be […]
Tui cuts 10,000 employees’ salaries by up to 50% amid Covid-19 crisis
Tui is the most recent journey firm to make severe cuts to address the outbreak (Picture: Alamy) More than 10,000 Tui staff are set to have their salaries lower by up to half as a response to the Covid-19 pandemic. The firm has turn into the most recent journey operators to make drastic modifications, because […]
Could the economic impact of coronavirus be worse than the Second World War?
The UK GDP might shrink in consequence of coronavirus (Picture: AP/ Rex) The UK economic system might shrink as a lot as 20% in the subsequent three months as coronavirus triggers a ‘big recession’, analysis firm Capital Economics has stated. This is because of the introduction of new authorities measures in opposition to the virus, […]
