When the financial crisis of 2008 hit, the then prime minister Gordon Brown was ready with the big bazooka. With two of the nation’s biggest banks, Royal Bank of Scotland and Lloyds-HBOS just hours from running out of cash, the then Labour government launched a near one-trillion-pound rescue package for big banks, business and consumers. … Read more
Businesses are preparing for large parts of their workforces to be off work because of the coronavirus after officials said even mildly ill people should stay home. The English Chief Medical Officer, Professor Chris Whitty, admitted people could soon be told to self-isolate for a week if they have any sort of cold or flu-like … Read more
IMF urges governments and central bankers to take action to protect businesses By James Salmon for the Daily Mail Published: 21:51 GMT, 9 March 2020 | Updated: 21:51 GMT, 9 March 2020 The International Monetary Fund has piled pressure on governments and central bankers around the world to do more to combat the economic fallout … Read more
Businesses will need a bailout from government to get over the ‘shock’ of coronavirus, the new chief of the Bank of England said today. Andrew Bailey warned there would be ‘damage’ to the economy from the virus, saying small firms in particular would need help. With a week to go until Chancellor Rishi Sunak delivers … Read more
The NHS has hiked the coronavirus outbreak to the highest possible threat level, it was revealed today as 12 more British patients tested positive for the infection. Health chiefs have declared the epidemic a ‘level four incident’, which grants them emergency powers to take control of local hospitals. Coronavirus was ratcheted up to level four … Read more
Lloyds Bank faces new police investigation into allegations of fraud against small businesses By A Daily Mail Reporter Published: 23:46 GMT, 1 March 2020 | Updated: 07:43 GMT, 2 March 2020 Lloyds Bank is facing a new police investigation into allegations of fraud against small businesses. Cardiff-based property investor Kashif Shabir has claimed the bank … Read more
A scheme to help small businesses turned down by banks borrow from peer-to-peer and alternative finance firms has proved ‘underwhelming’ and needs an overhaul, say experts. The Government-backed Bank Referral Scheme was launched in November 2016 and requires the UK’s biggest banks to refer small and medium-sized businesses they turn down for finance to a … Read more