Image copyright Getty Images Cineworld has warned it may need to raise more money in the event of further coronavirus restrictions or film delays due to Covid-19. It swung to a $1.6bn (£1.3bn) loss for the six months to June as its cinemas were closed under lockdown. “There can be no certainty as to the future impact of Covid-19 on… Read more →
Image copyright Getty Images The Bank of England has kept interest rates at 0.1%, citing a lack of clarity over the UK’s future trade relationship with the EU and the path of the coronavirus pandemic as cause for concern. The recent increase in the rate of Covid-19 cases could “weigh further on activity”, the Bank said. The economy has recovered… Read more →
Image copyright PA Media Image caption There are concerns unemployment could spike when the government’s job retention scheme closes at the end of the month The recession NI was already facing has been made 10 times worse by Covid-19, a committee has heard. Stormont’s economy committee has been hearing from economists on how the pandemic has affected economic growth. Ulster… Read more →
Image copyright Getty Images Peloton, which won an early celebrity fanbase for its exercise bikes and remote workout classes, has seen demand surge during the pandemic. The firm’s global membership base hit 3.1 million at the end of June, more than double a year earlier, as gym closures due to Covid-19 increased demand for at-home workouts. The jump in sign-ups… Read more →
Image copyright PA Media Image caption Nicola Sturgeon has said the programme for government will not be a “normal one” Nicola Sturgeon has insisted Scotland “cannot let coronavirus define its future”. The first minister is due to set out her programme for government for the coming parliamentary year this week. She warned it would not be a “normal” programme and… Read more →
Image copyright EPA Ryanair has said it will cut capacity by 20% in September and October following “notably weakened” bookings in recent days. The airline said the drop was driven by “uncertainty over recent Covid case rates in some EU countries”. It said cuts will mostly be in flight numbers as opposed to route closures. Ryanair said the cuts will… Read more →
Image copyright Getty Images Statutory sick pay should be increased and the furlough scheme extended on a flexible basis, new research suggests. Doing so would better manage a “crude” trade-off between lives and livelihoods as the UK economy reopens. These are two of the recommendations in a new report from the Royal Society. It says economic and health data should… Read more →
Image copyright Getty Images Ministers say they will not lift the benefits cap despite an advisory body warning it is stopping people getting help they need during the pandemic. The Social Security Advisory Committee said people living in areas with high rental costs were losing out due to a lack of flexibility in the system. Coronavirus meant it was “unrealistic”… Read more →
Image copyright JESSICA TAYLOR/UK Parliament MPs say the chancellor has “effectively drawn a line” under helping more than a million people excluded from government virus support packages. Last week, the Treasury Committee published an interim report into gaps in support to firms and workers hit by the virus. However, Rishi Sunak mounted a strong defence of his aid packages. The… Read more →
Here are five things you need to know about the coronavirus outbreak this Tuesday evening. We’ll have another update for you on Wednesday morning. 1. Virus won’t be gone by Christmas… or for years Image copyright Getty Images We must be realistic about the fact that coronavirus is here for the long term, leading scientists have told MPs. Even potentially… Read more →