Market Buzz
Friday newspaper round-up: Vaccines market, BT, Covid loans fraud
The future market for Covid-19 vaccines could be worth more than $10bn (£7. 6bn) in annual revenues for pharmaceutical companies, according to industry experts, even though some drugmakers have pledged to provide their vaccines on a not-for-profit basis during this pandemic. The calculations by analysts at Morgan Stanley and Credit Suisse assume people will need to be vaccinated every year, similar to the traditional flu jab, with an average price of $20 for a Covid-19 vaccine dose.
Thursday newspaper round-up: High street premises, job vacancies, Clarks
Six arrests have been made over alleged fraud in two government support schemes designed to help businesses hit by Covid-19. HM Revenue and Customs (HMRC) said three men had been arrested on suspicion of fraud linked to the "eat out to help out” discount scheme, introduced in August by the chancellor, Rishi Sunak. HMRC officers arrested the men, aged 43, 48 and 37, on Tuesday at their London addresses on suspicion of cheating the public revenue and fraud by false representation.
Wednesday newspaper round-up: Minimum wage, supermarkets, Crispin Odey
The number of people in the UK earning below the minimum wage has risen more than fivefold to 2 million since the start of the coronavirus pandemic, according to official figures, as the lowest-paid workers in Britain suffer the most financial damage. The Office for National Statistics said there were 2,043,000 jobs where employees aged 16 or over were paid below the legal minimum in April 2020, more than four times the 409,000 jobs a year earlier. - Guardian.
Tuesday newspaper round-up: Furlough, Crossrail 2, working from home
The number of furloughed workers in the UK is expected to more than double this month to as many as 5. 5 million as the government places England into national lockdown and expands its emergency Covid-19 wage support schemes. Economists said businesses were set to claim for billions of pounds of additional state support from the furlough scheme over the coming weeks, amid the enforced closure of non-essential venues for the second time this year. - Guardian .
Monday newspaper round-up: Double-dip recession, retailers, aviation industry
Bank of England policymakers are expected to inject up to £100bn into the economy when they meet this week amid mounting fears that the four-week lockdown for England will lead to a double-dip recession. Threadneedle Street’s nine-strong monetary policy committee (MPC) will spend the next few days weighing up the impact of the renewed closure of large chunks of the economy before announcing its latest decisions on Thursday. - Guardian .
Sunday newspaper round-up: Furlough scheme, National lockdown, Food banks
The chancellor dramatically extended his furlough scheme last night, just hours before it was due to end, bowing to demands from business leaders for more financial support throughout the new four-week lockdown in England. Rishi Sunak said the decision was necessary because of the return of “stay at home” restrictions to contain Covid-19. News of the new lockdown, first reported by The Times, had sparked fury from bosses. “We will do whatever it takes as the situation evolves,” Sunak said.