crisis

Cash crunch is just another crisis for Rolls-Royce

In normal times, August should be a boom time for Rolls Royce.

It follows the traditional Farnborough and Paris airshows, staged in alternating summers, when the aviation industry shows off futuristic new technology, seals deals and generally schmoozes. Rolls typically entertains clients on the balcony of its multi-story chalet, allowing the flight displays to steal attention away from the company’s pre-existing problems.

Not this year, however. Covid-19 saw the aerospace jamboree cancelled, replaced by online seminars that did little to draw focus away from the catastrophic collapse in air transport.

Even the more optimistic predictions for the recovery of the

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Europe’s economic winners and losers from the Covid crisis

No economy will escape the Covid crisis unscathed but a stark divide is emerging between Europe’s relative winners and its big losers. 

Almost every European economy smashed records for plunges in GDP during a lockdown-hit second quarter, but some risk slipping into a longer, more painful downturn.

While countries that were forced into long-lasting and severe lockdowns to control their outbreaks have suffered most, the structure of economies and governments’ war chests will also help determine the speed and strength of the recovery. Here are the economic winners and losers from the pandemic in Europe.

Winners

Greece

Covid-19 could not

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Social care funding will dwarf the Covid crisis if we do not act immediately

If paying for the Government’s Covid spending spree is the elephant in the room, fixing the social care funding crisis is the woolly mammoth – bigger, scarier and prompting the question why it’s still here at all.

The burgeoning problem of how we pay for later-life care has been around for decades, kicked from one administration to the next like a sand-filled beach ball about to burst.

Under the current system your local council will pay for your care if your assets – including the value of your home – are less than £23,250. If you are a homeowner or

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Over-55s, not millennials, have been the main victims of the coronavirus jobs crisis

The report said older workers who had not yet retired had been impacted disproportionately and some were “now confronting real financial hardship and challenges ahead”. It added that older people who had been made redundant may find it harder to find opportunities to retrain. 

Those of retirement age have been particularly hard hit by the pandemic, according to separate research by Rest Less, a jobs site for older people. Its analysis of data from the Office for National Statistics found that over-65s had seen the biggest drop in number of hours worked since the outbreak.

Stuart Lewis, the firm’s founder,

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