Home buyers and sellers have been left in limbo as surveyors have dramatically reduced property valuations in the aftermath of the coronavirus crisis. With house prices falling in many areas and transaction levels down, surveyors have started to issue more cautious estimates amid fears that properties could be overvalued. A […]
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Wirecard collapse hits users of British payments apps
The collapse of German payments provider Wirecard is having knock-on effects on British financial technology companies, with many customers being blocked from withdrawing money or using their accounts. Digital bank Pockit – which provides accounts for those unable to get a traditional bank accounts – and account management tool Curve are among […]
Worst week ever for UK economy as deficit soars and retail sales collapse
The Office for National Statistics data showed comfortably the highest borrowing on record stretching back to January 1993 as the Government moved towards wartime levels of spending to tackle the outbreak. Britain’s national debt has also jumped £118.4bn or 17pc in a single year to £1.9 trillion, its biggest yearly […]
Four things to know about the ‘paper crude’ futures collapse
After multiple investors in a crude-oil futures trading product sold by a major Chinese bank suffered huge losses due to the collapse in global oil prices earlier this week, a blame game has begun. Some of the investors believe that Bank of China (BOC), one of the country’s four largest […]
Vodafone’s India venture faces collapse despite cash injection
NEW DELHI — Despite a cash injection from an owner to help its operations during the coronavirus pandemic, Vodafone Idea, one of three key telecom operators in India, still faces an existential threat. U.K.-based Vodafone, which owns about 45% of the India joint venture with local conglomerate Aditya Birla Group, […]
Virgin collapse hints at further turmoil facing Asian airlines
TOKYO — The collapse of domestic and international carrier Virgin Australia could be just the start of a radical reorganisation facing Asia’s aviation sector in the wake of the devastating coronavirus crisis. As border controls continue to tighten worldwide, a number of Asian carriers are scaling back expansion plans and […]
Why the cost of petrol won’t follow the collapse in oil prices
Drivers expecting a noticeable fall in their petrol bills following the recent collapse of the price of oil will be disappointed, experts have said. The AA said NHS and other essential workers commuting by car were overpaying by more than £5 per tank as petrol prices have not fallen alongside […]
How coronavirus exposed the collapse of global leadership
SINGAPORE — As car crash interviews go, Bruce Aylward’s was excruciating and revealing in equal measure. In late March, Alyward, a Canadian epidemiologist and adviser to the World Health Organization, was asked by Radio Television Hong Kong reporter Yvonne Tong whether Taiwan would continue to be denied WHO membership, given longstanding […]
Care homes teetering on the verge of collapse under coronavirus pressure
Families of the half a million people living in care homes face a “ticking time bomb”, as providers admit they cannot cope with the extra pressures and costs that coronavirus is heaping on them. Many are concerned their loved ones – the vast majority of whom are considered particularly at […]
Foreign funds dump Japan stocks faster than after Lehman collapse
TOKYO — Foreign investors unloaded Japanese equities for eight straight weeks through April 3 at a pace roughly 50% greater than during the 2008 financial crisis. “Foreign players likely dumped long-term holdings in March, worried that the impact from the new coronavirus could last a long time,” a source at […]