- Prudential
- 08 March 2020 20:55:25
Source: Sharecast
The Treasury and the Bank of England face calls to unleash measures to help businesses survive the coronavirus outbreak amid fresh turbulence in markets. Chancellor Rishi Sunak is expected to use his first budget on Wednesday to make statutory sick pay available from day one and provide loan guarantees for short-term disruption to supply chains and sales. The Resolution Foundation think tank added that if the hit to the economy intensified, the Treasury should consider a temporary cut in VAT, as during the financial crisis. - The Sunday Times
Supermarkets trying to prevent shoppers from stockpiling have put purchase limits on items including pasta, anti-bacterial wipes, hand soap, toilet paper and children’s medications. Shelves across the country have been stripped of such goods after Public Health England urged members of the public to “plan ahead” in case they had to self-isolate for a couple of weeks. - The Guardian
Investigators at the Serious Fraud Office are examining allegations that Lloyds Banking Group and KPMG conspired to force the collapse of a property company by loading it with fees. Officials at the white-collar crime agency have begun interviewing witnesses over claims Angel Group, which owned properties including an office block at Canary Wharf, London, was deliberately pushed into administration. - The Sunday Telegraph
Bin collector Averda is poised to appoint Ferrexpo chairman Steve Lucas as its new chairman, stoking fresh speculation over a float in London. Mr Lucas's appointment could come as soon as tomorrow. The move will beef up governance at Averda, which is owned by its founding family and private equity firm Growthgate. Averda provides waste collection, processing and recycling services in eight countries across the Middle East and Africa. The business has about 15,000 staff and annual revenues of around $350m (£270m). - The Sunday Telegraph
British companies are expected to spend more than £12bn switching their fossil fuel vehicles for clean electric versions over the next two years. A survey found that nearly half of UK businesses are planning to invest in chargeable cars and vans in advance of the government’s ban on sales of new internal combustion engine vehicles by 2035. - The Guardian
Neil Woodford and former sales staff from Woodford Investment Management are understood to have held talks with institutional investors and wealth managers about forming a new venture. The talks, which were first reported by Sky News, are understood to have been prompted by calls to Woodford following a Sunday Times report that a boutique investment bank, WG Partners, had lost a period of exclusivity over a deal to buy the portfolio’s illiquid and private holdings. The group of early-stage companies included cancer treatment centres Rutherford Partners. - The Sunday Times
