Ministers have agreed to hand Sadiq Khan a £1.1billion bail-out package with ‘strings attached’ to get London’s transport system back up and running. The sides have struck a deal after days of intense wrangling, with the Mayor threatening to cut services unless he was given huge sums to help run the underground and bus networks … Read more
As one of the world’s wealthiest men, Sir Richard Branson is used to travelling by private jet, holidaying with politicians and hobnobbing with A-listers. But neither his estimated £4 billion fortune nor his audacious networking skills could save the Australian arm of his airline from going into administration yesterday. Virgin Australia, the country’s second biggest … Read more
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
Donald Trump on Sunday pledged to look into helping hotels left ‘devastated’ by closures in the wake of the coronavirus pandemic. The president – who himself owns a number of hotels across the country – was asked about whether they will be offered help at his daily briefing. After mentioning his ‘wonderful place’ in Doral, … Read more
A historic country pub is fearing for its future after missing out on a monetary lifeline from the Government because its value is rated £1 over the required threshold. The Boatside Inn, in Warden, Northumberland, has a rateable value of £51,000 and therefore falls above the under £50,999 limit. Owner Matt Cawood says that if … Read more
EU agrees trillion-euro bailout plan dubbed ‘the most important agreement in the bloc’s history’ to help shore up its coronavirus-hit economy Bloc agreed huge bailout for countries’ economies amid fallout from coronavirus French finance minister called the agreement the ‘most important in EU history’ €500bn will be made available immediately and the same again for … Read more
Bus firms’ shares revved higher after the Government offered them a further bailout package. Companies will receive £167m of funding over the next three months on the condition that they keep running up to 50 per cent of their services in England. The rescue comes on top of another promise of Government support, worth £230m, … Read more
Bailout of the giants: Biggest firms put thousands of staff on furlough – and we face £60bn bill British Airways, Nissan, Arcadia and Ovo all planning to furlough workers Join a growing list of names, from Greggs to Costa, McDonald’s and Primark Experts say as many as 6.1million private sector employees could be furloughed By … Read more
UK coronavirus bailout bill is set to SOAR after firms ‘furlough half their staff’ – as Rishi Sunak plans ANOTHER rescue package for business amid growing fears companies are unable to access the loans they need New survey of business suggests there is a massive take up of furlough scheme Some 44 per cent said … Read more
The House on Friday passed a $2 trillion coronavirus rescue package, defeating a move by a rogue lawmaker to hold up a vote on the legislation, which now heads to President Donald Trump for his signature. The threat from Republican Congressman Thomas Massie of Kentucky united President Trump, Speaker Nancy Pelosi and House GOP Leader Kevin … Read more