Press Round-Up Short (Premium)
Sunday newspaper round-up: Next, Water giants, NMC Health
Fashion retailers and their suppliers are braced for a massive shake-out of the industry as an estimated £10bn of clothing piles up in warehouses during the coronavirus lockdown. Retail insiders said major firms including Primark, Peacocks, Arcadia and Next had all stopped taking deliveries to their warehouses because they had no more room. Numerous poorer performing retailers, including Debenhams and vintage-inspired retailer Cath Kidston, are on the verge of collapse.
Friday newspaper round-up: Arcadia, retailers, P&O Ferries
The chancellor, Rishi Sunak, has banned banks from requesting personal guarantees for emergency loans to small businesses amid growing government concern that lenders have been slow in meeting demands for help. With the rapid increase in the number of universal credit claims suggesting many small companies have already collapsed since the economy was locked down, Sunak combined a new package of support for business with a warning to banks that they had to move more quickly.
Thursday newspaper round-up: Coronavirus wage subsidy, outbreak exit strategy, Treasury bond sales
Millions of people across Britain risk falling through gaps in the coronavirus wage subsidy plan and benefits system, according to two of the country’s leading economics thinktanks. After ministers hurriedly pulled together plans to increase the level of financial aid available from the state as the Covid-19 outbreak intensifies, the Institute for Fiscal Studies said many self-employed workers would still get no support, while others would be left financially better off as a result of the crisis.
Wednesday newspaper round-up: Low pay, JD Sports, construction works
The government has been warned it could be forced to abandon targets for ending low pay in Britain by raising the legal minimum wage, as the economic costs of Covid-19 mount. The Low Pay Commission, the independent body which advises ministers on legal wage floors, said the government target to increase the national living wage to two-thirds of average earnings by 2024 could be in danger. – Guardian.