Tag: warns

Coronavirus: Taxes will rise to pay for virus, IFS think tank warns

Image copyright Getty Images Taxpayers face a day of reckoning when the government’s massive coronavirus support measures have to be paid off, experts warn. The Institute of Fiscal Studies think tank says the economy will remain in a “support and recovery” phase for some time, but higher taxes are inevitable. On Wednesday, the chancellor unveiled another £30bn of support, bringing… Read more →

Burger King boss warns of UK job cuts

Image copyright Getty Images The boss of Burger King UK has warned that economic damage triggered by the coronavirus pandemic may push the fast food chain to permanently shut up to 10% of its restaurants. Those closures could lead to more than 1,600 lost jobs, Alasdair Murdoch said. Government schemes to help the restaurant industry do not do enough to… Read more →

Coronavirus: Nicola Sturgeon warns of ‘significant impact’ on jobs

Media playback is unsupported on your device Media captionCoronavirus: Nicola Sturgeon expects to see rise in unemployment in key report First Minister Nicola Sturgeon has warned of a rise in jobless figures due to the coronavirus lockdown. She said statistics are likely to show a “significant impact” on the number of people in work in Scotland. Ms Sturgeon also called… Read more →

Coronavirus: Macdonald Hotel chain warns 1,800 jobs at risk

Image copyright Google Image caption The chain has 11 hotels in Scotland, including the Macdonald Holyrood in Edinburgh Up to 1,800 jobs are under threat at the Macdonald Hotel chain as it looks to cut costs because of the coronavirus crisis. The company said that although most staff were on furlough, the current situation was “unsustainable”. Its deputy chairman also… Read more →

Fed warns US faces ‘long road’ to recovery

Image copyright Getty Images The head of America’s central bank has pledged to continue support for the US economy for “as long as it takes”. Warning that the US faces a “long road” to recovery, Federal Reserve Chair Jerome Powell said the bank would keep interest rates near zero for the foreseeable future. A policymaker forecast released by the Fed… Read more →

Coronavirus: Leading economist warns of 10 years of depression and debt

Image copyright Getty Images Economist Nouriel Roubini has warned of a prolonged downturn and sluggish recovery from the coronavirus. Nicknamed Dr Doom for his gloomy predictions, Professor Roubini said there are some jobs that simply will not come back after this crisis. Even if the global economy recovers this year from the impact of the coronavirus, it will be “anaemic”.… Read more →

Coronavirus: Shopping centre giant Intu warns of debt default risk

Image copyright Reuters Image caption Intu’s shopping malls, including Manchester’s Trafford Centre, remain ‘semi-closed’ Shopping centre operator Intu has warned that it risks defaulting on its debts unless its lenders give the firm significant breathing space. The coronavirus pandemic has hit rental income and Intu said there was no certainty how quickly the market would recover once the lockdown is… Read more →