Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Activists are calling on the pharmaceutical firm Gilead Sciences to study a drug for the treatment of Covid-19 that showed promise in curing cats of a coronavirus.
The drug, called GS-441524, is chemically related to remdesivir, an antiviral also made by Gilead, and one of the only treatments to successfully shorten the duration of Covid-19 recovery.
Capital could lose £178m in 2021 as companies decline to send all workers back to offices
Major cities such as London face more economic pain as some companies resist the government’s efforts to encourage workers back to their desks this week, economists have warned.
Pablo Shah, a senior economist at the Centre for Economics and Business Research (CEBR), fears that the capital could have lost its aura as a “fun” place to work, particularly in the digital and creative industries.
Federal government may need to give financial aid to sustain Australia’s second biggest economy to limit flow-on effects throughout country
The strict new stage 4 lockdown announced by the Victorian premier, Daniel Andrews, along with the shutdown of certain industries to be unveiled on Monday, represents a hammer blow to the Australian economy.
They immediately invalidate federal Treasury forecasts released less than a fortnight ago and will require the prime minister, Scott Morrison, to tip buckets of money into Victoria if Australia is to avoid prolonging and deepening what is already an economic disaster.
What happened after the fall of the Berlin Wall involved money, and lots of it
Before the government was forced into locking down British regions, it wanted to level them up, closing productivity gaps between north and south. That’s a valuable objective, reinforced by new research on UK regional inequality from academics appropriately spread across Sheffield, Birmingham and London. The paper reminds us that the UK has some of the biggest productivity gaps between regions in the developed world, with global leaders in parts of London and the south-east very different to some cities in the north and Midlands.
There’s nothing new in politicians or academics pointing to the north-south divide, but more interestingly the work notes that the UK has not always led the way in this inequality between places. Most countries had higher regional gaps than the UK for most of the 20thcentury. Indeed, the UK’s productivity gaps fell postwar and their surge is only a post-90s phenomenon.
Attacks following election at centre of ‘most serious known case of human rights abuse suffered by Unilever workers’
A group of 218 Kenyan tea plantation workers have filed a complaint with the UN against Unilever, alleging that the multinational violated international human rights standards by not adequately assisting its employees, who were attacked when ethnic violence broke out following a disputed election in 2007.
The workers say that Unilever, known in the UK for its PG Tips brand, breached its obligation to remediate any human rights abuses to which it has contributed, which is central to the UN’s guiding principles on business and human rights, and which the company has endorsed. They request the UN’s working group on business and human rights to make a declaration to this effect, and to call on the company to provide redress.
Six-year sentence following death of one of country’s best-known silverback mountain gorillas is first of its kind
In the first conviction of its kind, a court in Uganda has jailed a poacher for six years after he admitted killing one of the country’s best-known silverback mountain gorillas in a national park.
Felix Byamukama, from Murole in the south-west district of Kisoro, pleaded guilty to illegal entry into a protected area and killing the gorilla named Rakifi and a duiker antelope. Byamukama had said earlier that he killed the animal in self-defence after he was attacked. It is the first time Uganda, home to 50% of the world’s mountain gorillas, has jailed someone for such an offence and the sentence has been widely welcomed by wildlife groups.
Drop in quarterly gross domestic product comes as 1.43m people file for unemployment benefits, a second week of increases, amid Covid-19 pandemic
The US economy shrank by an annual rate of 32.9% between April and June, its sharpest contraction since the second world war, government figures revealed on Thursday, as more signs emerged of the coronavirus pandemic’s heavy toll on the country’s economy.
The record-setting quarterly fall in economic growth compared to the same time last year came as another 1.43 million Americans filed for unemployment benefits last week, a second week of rises after a four-month decline.
Here in Britain, roughly one in three furloughed workers returned to work in the first two weeks of July, when pubs, bars, restaurants and hotels reopened, official data from the Office for National Statistics showed today.
Businesses surveyed between 29 June and 12 July said 7% of their staff had returned from furlough within the past fortnight, while 17% remained on leave. The government-funded job retention scheme pays 80% of their salaries and covers more than 9 million people at the moment, about a third of the private-sector workforce. But it will be scaled back from Saturday and come to an end on 31 October.
Here is our full story on Airbus. The Toulouse-based planemaker has been hit hard by the collapse in air travel, and received only eight new orders between April and June, compared with 290 in the first quarter.
Celebrity hangout will allow select group to own shares in ‘world’s best real estate’
The Chateau Marmont, a Hollywood hotspot and hangout for nearly a century, will be converted into a members-only hotel over the next year.
The owner, André Balazs, confirmed his plans to turn the 91-year-old building into a hotel at which a select group of members could buy into “a piece of a portfolio of the best real estate in the world”, the Los Angeles Times reported.
Energy giant hit by massive change in fortunes as Covid-19 crisis forces writedown in asset values
Royal Dutch Shell has reported a deep financial loss after a record writedown on the value of its oil and gas assets due to the collapse in global market prices triggered by coronavirus.
The Anglo-Dutch oil giant revealed a net loss of $18.3bn (£14.1bn) for the second quarter 2020, down sharply from a net profit of $3bn over the same period last year and $2.7bn in the first three months of 2020.
Both sides seeking deal to secure continuous trade once Brexit implemented on 1 January
The UK is close to sealing a “continuity” trade deal with Japan that will mirror that of the EU pact that Britain will no longer be part of next January.
But in order to strike an agreement in time for it to be ratified by the Japanese parliament, the international trade secretary, Liz Truss, has had to drop her ambitions for preferential treatment for British food exports.
Henry Dimbleby’s national food strategy starts with review of ‘slow-motion disaster’ diet, poverty, and post-Brexit laws
It is a year since Michael Gove asked the businessman Henry Dimbleby to produce a national food strategy. In that time the coronavirus pandemic has brutally exposed the cracks in the British food system so the launch of part one of his review this Wednesday comes in a new and urgent context.
After only a few weeks of lockdown three million people in Britain were in households where someone was forced to skip meals and go hungry.
Julie Palmer, partner at business advisory and restructuring firm Begbies Traynor, says:
The success of Greggs has been the envy of the high street in recent years, however, even the bakery chain hasn’t been immune to the impact of Covid-19 which has forced its stores to close and eaten away at its top line.
For Greggs, achieving rent reductions from landlords will be first on the tick list, and indeed this has been a priority for many on the high street. But once these costs have been reduced its push to return to success will begin. And given its track record of marketing & PR success with its famous vegan sausage roll, I wouldn’t be surprised to see another high profile campaign on the horizon that captures the sentiment of a nation experiencing seismic change.
Let’s have a look at today’s corporate news. Greggs, Britain’s biggest bakery chain (known for its vegan sausage roll) has warned that sales won’t get back to pre-pandemic levels for as long as physical distancing continues.
But it’s fared better than other retailers: sales are now running at 72% of the 2019 level. All of its 2,050 stores reopened by July, after being forced to close during the Covid-19 lockdown imposed on 23 March. Greggs made a £65.2m loss before tax in the first half, compared with a £36.7m profit a year ago.
New York health authorities are to investigate a charity concert in the Hamptons, which included performances by the Goldman Sachs chief David Solomon and DJ duo the Chainsmokers, over “egregious” social distancing violations.
The drive-in event, Safe & Sound, had space for about 600 cars and was held in Southampton village on Saturday. It was the first in a series of such concerts planned for the US, according to the organisers’ website.
Top investment house delists world biggest meat producer over lack of commitment to sustainability issues
The investment arm of northern Europe’s largest financial services group has dropped JBS, the world’s biggest meat processer, from its portfolio. The Brazilian company is now excluded from assets sold by Nordea Asset Management, which controls a €230bn (£210bn) fund, according to Eric Pedersen, its head of responsible investments.
The decision was taken about a month ago, over the meat giant’s links to farms involved in Amazon deforestation, its response to the Covid-19 outbreak, past corruption scandals, and frustrations over engagement with the company on such issues. “The exclusion of JBS is quite dramatic for us because it is from all of our funds, not just the ones labelled ESG,” Pedersen said.
People flying into Britain from Spain have attacked the government’s decision to impose a 14-day quarantine on people returning from the country, saying they were given no warning and that they felt safer in Spain.
As flights from Jerez, Alicante, Valencia and Palma landed in quick succession on Sunday afternoon at Stansted airport, passengers found themselves faced with the realisation that they were about to enter into an unexpected period of self-isolation.
One-size-fits-all approach for sector puts not-for-profits in jeopardy, union warns
The not-for-profit early childcare education sector is struggling to pay up to $9,000 for deep cleaning each time a Covid-19 case is identified, while federal government transition payments may not be enough to keep the sector afloat as parents pull their children out of the system.
The United Workers Union’s director for early childhood education, Helen Gibbons, said the one-size-fits-all approach towards the early childcare sector needed a rethink or the community risked losing not-for-profit childcare centres, which comprise just under half of the sector.
Three professors at the University of Southampton school of medicine have this week made a “major breakthrough” in the treatment of coronavirus patients and become paper millionaires at the same time.
Almost two decades ago professors Ratko Djukanovic, Stephen Holgate and Donna Davies discovered that people with asthma and chronic lung disease lacked a protein called interferon beta, which helps fight off the common cold. They worked out that patients’ defences against viral infection could be boosted if the missing protein were replaced.
The National Retail Association wants all businesses to have greater flexibility, not just those receiving jobkeeper
Australia’s retailers are calling on the Morrison government to broaden the power of employers to cut workers’ hours and change duties, as Labor signalled it will oppose the move to extend flexibility linked to the jobkeeper wage subsidy.
The National Retail Association chief executive, Dominique Lamb, told Guardian Australia the government should consider granting all businesses the flexibility to vary work hours – not just the firms in receipt of the jobkeeper wage subsidy.
Garmin has been forced to shut down its call centres, website and some other online services after a ransomware attack encrypted the smartwatch maker’s internal network and some production systems.
The US company shut down services including the official Garmin website and all customer services, including phone lines, online chat and email.