Wednesday newspaper round-up: Banks, ventilators, business groups
Britain’s banks have revealed how they are going to implement Rishi Sunak’s promise of “payment holidays” of up to three months. In guidance issued after the chancellor pledged mortgage support for households affected by the coronavirus, UK Finance, the trade body for the major banks, set out how households can apply. – Guardian
UK manufacturers such as Vauxhall and Airbus are planning to 3D-print parts for ventilators to treat coronavirus patients, as part of a “wartime” effort to build thousands of medical devices that will be overseen by a management consultancy. More than 60 companies began responding on Tuesday to a request from Boris Johnson, made during a conference call on Monday evening, to help produce 20,000 ventilators in as little as two weeks. – Guardian
Britain’s biggest business group has criticised Boris Johnson’s handling of the latest coronavirus containment measures after he advised the public to avoid under-pressure pubs, restaurants and theatres. The Confederation of British Industry’s chief economist said the Government’s announcement on Monday afternoon had placed “the burden of responsibility very late in the day” on small businesses. The prime minister advised the public to avoid such businesses but did not force them to close. – Telegraph
Softbank Group could back away from its planned bailout of Wework because of the regulatory investigations into the office sharing company. Investigations into Wework’s business by the US Securities and Exchange Commission and Justice Department may be a dealbreaker for the Japanese technology conglomerate, which agreed to buy $3 billion of Wework shares from existing investors last year, according to The Wall Street Journal. – The Times