Renault seeking up to 5 billion euros in state-backed loans
French car giant Renault is seeking billions in state-backed loans as it tries to weather the coronavirus crisis.
Business
MPs eligible for £10,000 grant from councils over constituency office closures
Hundreds of politicians are entitled to a £10,000 one-off cash grant from their local authority to cover the costs of closing constituency offices, the PA news agency understands.
Opec deal to cut global oil production ‘dependent on Mexico’
Opec has said a proposed deal to cut global oil production “is conditional on the consent of Mexico”.
Covid-19 crisis could mean payday for pension scammers, insurers warn
Pension savers are being warned to watch out for investment scams promising too-good-to-be-true returns as criminals cash in on people’s money worries.
Which? urges Government price controls to stop online coronavirus profiteering
The Government should place price controls on essential items being sold online to stop profiteering during the coronavirus pandemic, consumer group Which? has said.
Free-to-use ATM guarantee pledge by banks
Some banks and cash machine deployers have made a 12-month pledge to help maintain the spread of free-to-use ATMs amid fears some could disappear as cash use plunges during the coronavirus crisis.
Central bank action boosts markets despite jobs uncertainty
A massive stimulus package in the US excited markets on Thursday as the trading week ended on a high.
Asos condemned as delivery drivers face redundancy
Asos has been criticised by a union as around 70 drivers, who have been delivering clothes throughout the coronavirus pandemic, face redundancy.
EasyJet defers purchase of 24 Airbus planes amid pressure from founder
EasyJet has deferred the purchase of 24 Airbus aircraft following pressure from founder Sir Stelios Haji-Ioannou.
Energy suppliers split over asking Government for a bailout
The UK’s energy suppliers agree they will need to raise extra cash in the wake of the coronavirus crisis as customers struggle to pay bills, but are clashing over who should fund it, according to insiders.
Debenhams enters administration with thousands of jobs at risk
Department store chain Debenhams has confirmed it has formally entered administration.
Women and young adults ‘more likely to have suffered Covid-19 income shock’
Nearly a third of people in the UK have already seen their household incomes hit by the coronavirus pandemic with women, young adults and those living in London particularly likely to have suffered financial damage, a report has found.
We’ve leapt into action: How Jaguar Land Rover is helping in Covid-19 crisis
The head of Jaguar Land Rover has written to customers spelling out how the car giant is helping to deal with the coronavirus crisis.
Relief for overdraft and credit card borrowers: How you can get help
Extra short-term help will now be made available to some people with an overdraft, a credit card or a loan, the Financial Conduct Authority (FCA) has confirmed.
Stop-gap measures to help overdraft and credit card customers will go ahead
Banks will be expected to offer customers whose finances have been hit by coronavirus an interest-free overdraft buffer of up to £500 for three months, the City regulator has confirmed.
Airbnb halts bookings in UK properties due to Covid-19
Airbnb has blocked UK properties from accepting new bookings for the coming days unless they are for key workers.
Trainline bosses to take pay cut as bookings plummet
The chief executive of ticket sales app Trainline is taking a 50% pay cut, with the board and management team taking a 20% cut in fees and pay during the coronavirus crisis.
Bank of England to temporarily finance Government Covid-19 spending
The Government said it has expanded its overdraft with the Bank of England to ensure it has sufficient cash to cope with disruption caused by coronavirus.
Guinness and Smirnoff owner Diageo warns pub shutdown badly hitting sales
Johnnie Walker and Guinness owner Diageo has warned that the speed of the shutdown across the world is hitting the business even harder than before.
UK economy slumped in February before pandemic impact
The UK economy contracted in February as poor weather impacted the construction sector, according to official statisticians.
Nearly third of nurseries still charging fees despite Covid-19 closures – survey
Nearly a third of nurseries are still charging parents fees for children who are at home during the coronavirus pandemic, a survey suggests.
Families who rent ‘more exposed to economic shock than home-owners’
Families living in rented accommodation are more exposed to the current economic shock than home-owners despite Government support, a think-tank has claimed.
Pension funds and investors face hit from dividend collapse
Pension savers could face a massive hit to the dividends that form a major part of their incomes, as companies slash shareholder payments amid the coronavirus crisis.
Airbus cuts production by third due to Covid-19 pandemic
Airbus is reducing production by about a third as demand for aircraft and travel plummets due to the coronavirus pandemic.
FTSE 100 rallies after Bernie Sanders drops US presidential bid
A late rally after the news that Bernie Sanders would pull out of the race to be US President was not enough to erase the impact of a soaring pound on the FTSE 100.
Companies’ Covid-19 response will be remembered for years, says advertising boss
Companies could be judged on their responses to the coronavirus crisis for years to come, one of the world’s top advertising bosses has said.
NMC Health braces for collapse as bosses say there is no more money
London-listed private hospital business NMC Health is expected to collapse into administration on Thursday after management said they had written to the UK courts telling them they have run out of cash.
Housebuilder Taylor Wimpey launches £5m relief scheme for subcontractors
Housebuilder Taylor Wimpey has said it will make advance payments to subcontractors as part of a £5 million scheme aimed to prop up self-employed workers impacted by the coronavirus pandemic.
Choice of mortgage deals halved since March 11, analysis shows
The choice of residential mortgage deals on the market has halved over the past few weeks, analysis has found.
Morrisons and Deliveroo team up to offer 30-minute grocery deliveries
Morrisons will offer a 30-minute delivery service from 130 stores for basic essentials, teaming up with takeaway delivery app Deliveroo.