US President Donald Trump said he expects a coronavirus vaccine to be available for every American by April, a more optimistic forecasts of many US government scientists. Trump insisted on Friday that he often knows more about such matters than experts like Robert Redfield, director of the Centers for Disease Control and Prevention.
The pound dropped and UK government bond prices rose last week after traders spotted signs the Bank of England might seriously consider cut interest rates below zero – a reaction that took the central bank itself by surprise. The BoE said it “will initiate a structured engagement”
Large UK real estate funds continue to suspend trading on fears that low liquidity reserves and regulatory uncertainty could trigger an investor rush. All major commercial real estate funds suspended trading in March, trapping nearly £ 22bn of investor money after the coronavirus-induced shutdown in economic activity did so. difficult to evaluate the properties.
It’s been less than two months since Donald Trump traveled to Texas to declare that the US energy industry, minimized by this year’s oil price crash, is back on its feet. “We are fine now,” the president said. But the latest bankruptcy issues tell a different story. Another 16 US oil and gas companies upstream hit the wall in August, the same issue as in July, according to the law firm Haynes and Boone.
Rolls-Royce is in talks with sovereign wealth funds, including Singapore’s GIC, as part of a plan to raise around £ 2.5bn from investors next month, the Financial Times learned. UK aeroengine group is working with Goldman Sachs bankers on planned capital increase to repair a balance sheet badly damaged from the coronavirus pandemic.
Deloitte UK was forced to abandon plans to sell its restructuring practice after its global parent company vetoed the divestiture on the grounds that it could negatively impact the rest of the company. The proposed sale was expected to bring in hundreds of millions of pounds mitigated a decline in some consulting jobs during the pandemic.
Cathay Dragon, the short-haul subsidiary of Cathay Pacific Airways, announced on Sunday that its flights from Kuala Lumpur have been banished from landing at its Hong Kong hub until October 20, after five passengers arriving on Friday tested positive for Covid-19. “Everyone was connecting passengers traveling from India via an India Express flight,” Cathay Dragon said in a statement.
Spare bedrooms and living rooms may soon become part of vibrant trading floors as one of the world’s largest investment banks considers providing augmented reality headsets to staff. UBS pioneered Microsoft HoloLenses, which would allow London-based staff to recreate the experience of working in a full commercial floor without leaving their homes.