Consumer spending in the United Kingdom contracted by over a third last month as a result of retail shops shutting to reduce the impact of the coronavirus on their businesses. Data from Barclaycard—Britain’s largest credit and debit card provider—showed that consumer spending in April plunged by as much as 36.5% as compared with the same […]
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Flag carrier British Airways Public Limited Company is set to lay off thousands of its employees amid the huge drop in air travel demand over fears of the coronavirus outbreak. The company revealed in a letter to the British Airline Pilots Association (BALPA) Union on Tuesday that it would let go of 1,130 flight captains […]
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The UK government is offering government-backed rescue loans to small businesses that took a beating from the global pandemic. The plan came after calls on the government to revamp its emergency loan scheme following denied support for thousands of cash-starved firms. Chancellor Rishi Sunak said small businesses are guaranteed of bounce-back loans with full backing […]
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