The Bank of England’s chief economist has warned the government against extending the furlough scheme, arguing it will delay an “inevitable” shake-out of businesses hit by the Covid-19 pandemic. Andy Haldane said a “necessary process of adjustment” was under way and an extension of the job retention scheme beyond the 31 October deadline would only delay this process taking ...

Pizza Hut Restaurants has confirmed plans to close about 29 of its 244 sites across Britain with the loss of up to 450 jobs. The closures, fewer than originally feared, will be achieved through a company voluntary arrangement (CVA), an insolvency process that enables businesses to shed uneconomic outlets and cut rents. The chain is understood to have resorted ...

Today, the Business for Peace Foundation has announced the 2020 Oslo Business for Peace Award winners. The Honourees are: Marc Benioff, (pictured) Founder, Chair and CEO of Salesforce; James Mwangi, Chairman and CEO of Equity Group Holdings and Felicitas “Joji” Bautista Pantoja, Co-Founder and CEO of Coffee for Peace. The Oslo Business for Peace Award is given annually to ...

Problems with using public transport since the start of the pandemic have prompted a rise in demand for car services and a surge in bike sales at Halfords, although the company has warned that profits could have a “natural fall-off” later this year. Sales at Halfords autocentres were more than a fifth lower during lockdown despite its garages remaining ...

Lloyds Banking Group has been censured by the competition watchdog for forcing small companies damaged by the pandemic to open paid-for business current accounts to access emergency state-backed loans. The Competition and Markets Authority said the bank, one of the largest in the small business market, had unfairly limited choice by requiring companies seeking credit during the crisis to ...

The most adventurous social-distancing models are not enough to save the Royal Albert Hall from financial oblivion, its bosses have said as they expressed their anger at the government’s bailout scheme. The organisation said that even its deployment of a nose-to-nose one metre social-distancing measurement rather than a shoulder-to-shoulder one would not allow it to hold financially viable productions. ...

Naga Munchetty could be barred from presenting BBC Breakfast segments about Natwest after accepting money from the bank to host a series of promotional videos. For the second time in less than two months Munchetty has been warned that her external appearances pose a conflict of interest, having previously been reprimanded for appearing in a corporate film for Aston ...

Social gatherings of more than six people will be banned in England under new measures designed to be easier to understand and enforce. Boris Johnson will say today that meeting in larger groups for fun will become illegal in England from Monday as ministers try to prevent a sharp increase in coronavirus cases leading to a second wave of ...

Remote work is proving an increasingly popular option. Even before the global pandemic, there was a gradual move towards working from home. The positives are apparent for both employers and employees: no office overheads, no commute, no stress, or rush. Naturally, the move towards a more decentralised business landscape was all but inevitable. However, there can be no doubt; ...

Bridging finance and development finance are often confused as one and the same thing. But despite the fact that both represent viable funding options for property development projects, there are differences between them that must be taken into account. Before applying for development finance or a commercial bridging loan for any purpose, here is what you need to know ...

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