Councils warn of £10billion cash black hole as Robert Jenrick pumps an extra £500m into authorities

Councils warn of £10billion cash black hole as Robert Jenrick pumps an extra £500million into struggling English local authorities – less than £1.5million each – amid bankruptcy fears Local Government Secretary said cash would go towards covering lost income  It is part of £4.3billion package of support put in place by the Government so far … Read more

New images of Dyson’s £500M failed electric car revealed

New images of British billionaire Sir James Dyson’s failed electric car project have been revealed, showing the seven-seat plug-in SUV in greater detail.   The protoype, which has a claimed range of 600 miles on a single charge, is the only car built before the plans for an electric vehicle range were axed last October after … Read more

James Dyson reveals his ‘risky’ scrapped electric car that cost £500M

British billionaire Sir James Dyson has unveiled the sole prototype of his company’s electric car that was cancelled for being ‘too risky’. The aborted ‘N526’ Dyson electric car, which Dyson piled £500 million of his own money into before pulling the plug, is a 16-foot-long seven-seater, electric SUV. The 2.6 tonne-vehicle features an aluminium body, … Read more

Lifeline for start-ups as £500m Future Fund launches today

Start-ups hit by the lockdown have been given fresh hope for survival as applications for the Government’s coronavirus Future Fund opened today. The new scheme, which has been developed alongside the British Business Bank, will issue convertible loans between £125,000 to £5million to innovative companies which are facing financing difficulties due to the coronavirus outbreak. … Read more

Hedge funds bet on £500m cash call at Hammerson

Hedge funds bet on £500m cash call at shopping centre landlord Hammerson due to coronavirus crisis Hammerson may tap investors for up to £500m to cope with coronavirus crisis A major deal to offload seven retail parks fell through as buyer Orion pulled out Hammerson will get to keep the £21m deposit paid by the bidder  … Read more

Lloyds under fire for handing out just £500m to struggling firms

Lloyds suffers profits collapse as it comes under fire for handing out just £500m under coronavirus Loans Scheme By Lucy White For The Daily Mail Published: 21:51 BST, 30 April 2020 | Updated: 22:32 BST, 30 April 2020 Lloyds suffered a collapse in profits as it came under fire for its lacklustre lending under the … Read more

Richard Branson warns Virgin Atlantic will collapse without £500m taxpayer-funded bailout

To all the Virgin family, For 50 years I have been humbled by the incredible pride our people take in working for Virgin. It is the people across all our businesses, and the hundreds of thousands of people who have worked with us over the years, that make this company so special. They tell their … Read more

Beijing warns it is ‘seriously concerned’ about US decision to suspend $500m WHO funding

China has warned it has ‘serious concerns’ after Donald Trump suspended all US funding to the World Health Organization for what he called ‘its role in severely mismanaging the spread of coronavirus’. Zhao Lijian, a spokesman for Beijing’s foreign ministry, said the global battle against the pandemic is at a ‘critical moment’ and that suspending … Read more

Sainsbury’s expecting to save £500m from the 100% rates holiday

Sainsbury’s shares rise as it reveals £500m saving from government stimulus package giving retailers a 100% business rates holiday Sainsbury’s customers can now buy no more than three of a grocery product Tesco’s 24-hour stores will no longer be open all day so that they are restocked EU drivers’ hours rules have been relaxed so … Read more