UK economy grew by 2.3% in April as Covid-19 restrictions eased – business live | Business

Pound on track for second weekly loss

Nightclubs and bars could sue the government to prevent a delay to Covid-19 restrictions being lifted on 21 June in England, amid mounting fears that struggling venues will go to the wall if they have to stay closed any longer.

The Night Time Industries Association (NTIA) is understood to be weighing up legal action on behalf of venues such as nightclubs that have spent money to be ready to welcome guests after a year of enforced closure.

According to the trade body, 54% of businesses have ordered stock, 73% have called in staff and 60% have sold tickets.

Hospitality bosses said they were increasingly resigned to the prospect that rules such as social distancing and compulsory mask-wearing will not be relaxed, potentially until July.

“It was almost in touching distance and now feels like it’s slipping away,” said Chris Jowsey, the head of the 1,000-strong pub chain Admiral Taverns.

“We need people in the pubs to trade profitably. People might say it’s only a fortnight or four weeks, but [publicans] are hanging on by their fingertips.

US consumer confidence rebounds

Goldman Sachs staff in US must disclose Covid vaccination status

Goldman Sachs has told its staff in the US that they must disclose their Covid-19 vaccination status before a planned return to office working next week.

The investment bank, whose 6,000 UK workers have separately been told they have the option of filling out their status anonymously to give the business an idea of vaccination levels, had previously told US staff that disclosing their inoculation status would be optional.

“Registering your vaccination status allows us to plan for a safer return to the office for all of our people as we continue to abide by local public health measures,” states the internal staff memo.

“As a result, it is mandatory that you submit your vaccination status. While we strongly encourage you to receive a Covid-19 vaccine, we understand that the choice to get vaccinated is a personal one.”

Staff have been told to log their status in the bank’s internal app, Canopy, with the company saying it could be shared with managers and used for planning.

UK air taxi firm Vertical Aerospace to float on New York stock market

A UK startup that makes flying taxis is to float on the New York stock exchange as Virgin Atlantic and American Airlines placed orders for as many as 1,000 of its prototype electric aircraft.

Vertical Aerospace, which is based in Bristol, said its electric vertical takeoff and landing aircraft (eVTOL) could be in service by 2024, once safety regulators certify it. Developers believe eVTOLs will transform urban transport, offering on-demand flights in and between cities more quietly, cheaply and safely than helicopters.

Vertical Aerospace said its VA-X4 model, priced at roughly $4m (£2.8m), is zero emissions and near silent, able to carry four passengers and a pilot more than 100 miles and travelling at more than 200mph…..

Wall Street opens a little higher

Rupert Murdoch writes down value of The Sun newspapers to zero

IEA: Oil demand to surpass pre-Covid levels by end of 2022

Naked Wines has reported a 68% surge in sales over the past year as customers flocked to buy wine online during the coronavirus crisis.

The online wine retailer, whose website crashed at Christmas because of customer demand, also reported a 53% increase in regular customers, with the pandemic accelerating the trend of buying wine online.

Nick Devlin, the chief executive of Naked Wines, says:

“It is clear to us that the pandemic has served to underscore the value of our business model in connecting winemakers and consumers directly and proven the opportunity before us.”

He said he expected sales to grow by about a fifth annually.

UK economy grew by 2.3% in April as Covid-19 restrictions eased – business live | Business Source link UK economy grew by 2.3% in April as Covid-19 restrictions eased – business live | Business

Back to top button