Thursday newspaper round-up: National Living Wage, Italy, Boeing, Google

A fresh round of high street bloodletting is expected after major chains, who are closing stores and shedding jobs, were overlooked by emergency business rates cuts. The government took the step of scrapping bills for small business owners including shops, restaurants and nightclubs in the coming year so their finances would be better able to cope with coronavirus-related upheaval. – Guardian

The national living wage will rise to more than £10.50 an hour in 2024 compared with £8.21 at present, as the government set a target for the wage to reach two-thirds of median earnings. The new rate will apply to everyone aged over 21, not the current threshold of 25, although it is not guaranteed, as the chancellor cautioned that the increases will only happen “as long as economic conditions allow”. – Guardian

Italy could be about to make its quarantine lockdown measures even more draconian, closing businesses, shops and all non-essential services in a desperate attempt to halt the spread of coronavirus. More than 10,000 people have been infected in Italy, and the country's death toll rose to 631 on Tuesday – up by 168 from Monday. – Telegraph

Boeing plans to draw down the rest of a $13.8 billion loan it secured in January, as the coronavirus outbreak adds to pressure on the American planemaker due to the grounding of its 737 Max jets. Shares in the aircraft manufacturer were down by $41.93, or 18 per cent, at $189.08 at the close in New York yesterday. It was the largest daily percentage fall since December 1974 and wiped $23 billion off the company’s value. – The Times

Alphabet, the owner of Google, has advised almost all of its 100,000 workers across 11 offices in the United States and Canada to work from home and then extended that to Europe, the Middle East and Africa. As big companies around the globe rushed to counter the spread of coronavirus, Chris Rackow, Google’s vice-president of global security, said the move was being taken “out of an abundance of caution and for the protection of Alphabet and the broader community”. Twitter is also “strongly encouraging” all of its 5,000 staff around the world to not to go into their offices. – The Times