Tuesday newspaper round-up: Asos, Brexit, oil prices
Asos has been criticised by staff who say they are scared to come to work at its distribution centre because they are not being sufficiently protected during the coronavirus pandemic. More than 98% of more than 460 workers who took part in a survey carried out by the GMB union said they felt unsafe at the group’s warehouse in Grimethorpe, Barnsley, even after new safety measures were introduced last week. About 4,000 people are employed at the warehouse with an average 500 working each shift. – Guardian
The largest group in the European parliament has urged the UK government to do the “responsible thing” and extend the Brexit transition period, as coronavirus plays havoc with the timetable for an EU-UK deal. The centre-right European People’s party (EPP), which unites the parties of 11 EU leaders, including Angela Merkel and Leo Varadkar, issued a statement on Monday calling on the government to extend the Brexit transition beyond the end of the year. – Guardian
The Italian federation of doctors has a message for those who build castles in the air based on theoretical modelling of Covid-19, and for those credulous enough to base policy on such models. “Whoever is handling the numbers is either incompetent or living in a parallel universe,” said Dr Paola Pedrini, head of the federation’s Lombardy chapter, currently facing the pandemic onslaught. Those dying at home or in care homes are not being recorded as coronavirus deaths. The true death toll is multiples higher. “We don’t want data confusion to hide the general responsibility for the ‘Caporetto’ of the Italian health system.” – Telegraph
Oil prices have tumbled to their lowest level in 18 years amid fears that producers could quickly run out of storage space for crude rendered surplus by falling demand in the coronavirus crisis. Brent crude, the global benchmark price, fell by 9.5 per cent to $22.57 a barrel last night, its lowest level since early 2002 and down two thirds since the start of this year. – The Times
Banks in Britain could face losses of more than £15 billion on loans that backed leveraged buyouts and other highly geared transactions, research suggests. These loans risk going sour as an economic slump affects the cashflow of companies with heavy debts. Insurers, hedge funds and small investors in corporate bond funds are also at risk. – The Times