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14-day quarantine for people arriving into UK
There’s been mounting opposition from MPs and the airline industry to the government’s plans to quarantine travellers to the UK.
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2m
UK government borrowed record £62 billion in April – just an ‘initial taste’ of coronavirus impact
There are more terrible economic figures out today which the government’s financial watchdog have described – ominously – as just an “initial taste” of the impact of the coronavirus on the UK.
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4m
‘Frankly unforgivable to contemplate’ no deal with EU – Lord Michael Heseltine
We speak to Lord Heseltine, former Deputy Prime Minister and President of the Board of Trade.
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5m
Rolls-Royce to cut 9,000 jobs as virus crisis hits airline industry
Rolls-Royce says it is slashing 9,000 jobs – almost a fifth of its workforce – as bosses warned it will take a long time for the airline industry to recover from the coronavirus crisis.
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‘It is now very likely that the UK economy is facing a significant recession’ – Chancellor Rishi Sunak
Prepare for a recession, that seems the inevitable conclusion after official figures showed output falling at the fastest rate since the depths of the financial crisis more than a decade ago.
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3m
Furlough job protection scheme extended
The extension of the furlough scheme will be a lifeline for people whose workplaces have been shut down altogether – like hospitality and travel.
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‘Maybe a little glimmer of light has been shone’ – Tory MP Mel Stride on lockdown easing
The Chair of the Commons Treasury Committee – the Conservative MP Mel Stride – joins us from Central London.
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Construction and manufacturing workers in England ‘actively encouraged’ to return to work
Workers in areas like construction and manufacturing in England have been ‘actively encouraged’ to return to work.
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2m
US unemployment claims hit 33 million
33 million Americans have now lost their jobs since the pandemic began
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4m
Bank of England warns UK faces deepest recession for centuries
The UK is facing the deepest recession not just in living memory but for centuries, the Bank of England has warned
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3m
Airlines fear meltdown if flying does not resume
Airlines and airports are staring potential oblivion in the face – but with millions of jobs at stake around the world they say they can not wait for a vaccine before they start flying again.
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2m
Virgin Atlantic to cut more than 3,000 jobs and leave Gatwick
Just a week after British Airways announced it was axing almost a quarter of their staff, Virgin Atlantic have now said they too will have to cut thousands of jobs.
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7m
BA and John Lewis hit by virus shutdown
Two big business announcements this afternoon show the heavy toll the coronavirus crisis is having on the economy.
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3m
Pandemic puts EU unity under strain
The head of the European Central Bank has warned that the Eurozone’s economic output could shrink by up to 15% this year. Christine Lagarde also told a virtual summit of all 27 EU leaders that a European recovery fund is needed quickly. But so far those leaders cannot agree how to raise a €1 trillion…
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Desperation of coronavirus jobless, as lifelong workers struggle to pay rent
The Business Secretary today revealed that 2.8 million workers have been furloughed under the government’s support scheme