ALEX BRUMMER: Bring business, finance and economy out of hibernation as soon and as safely as possible By Alex Brummer for the Daily Mail Published: 21:57 BST, 3 April 2020 | Updated: 22:59 BST, 3 April 2020 The amazing aspect of the business support schemes on both sides of the Atlantic, flaws and all, is … Read more
The scale of the economic wipeout from Covid-19 is truly horrifying. As the lockdown has spread across the United States, the number of Americans filing jobless claims shot up to 6.65m – almost twice the number of just a week ago, ahead of all forecasts and bringing the two-week total up to 10m people. On … Read more
As painful as it will be for investors in the banks, it is only right that dividend payouts and share buybacks are suspended in these extraordinary times. As the British and global economy teeter on a cliff edge, the last thing needed is for a health catastrophe to become a financial crisis. Safety must be … Read more
Coronavirus is taking the biggest toll on dividends in modern times, with more than £4.3 billion of payouts postponed or cancelled so far, and big distributors – such as oil majors – still to decide. Preserving capital in times of strife is critical, particularly for banks, because of their key role in supporting the smalland … Read more
ALEX BRUMMER: If the rest of the world tips over a financial precipice – because we ignore its needs – Britain goes with it By Alex Brummer for the Daily Mail Published: 21:53 BST, 29 March 2020 | Updated: 22:17 BST, 29 March 2020 The UK death toll from coronavirus breaks through the 1,000 mark. … Read more
The country has been left in no doubt about the economic mantra of Covid-19. It is Rishi Sunak’s much repeated ‘whatever it takes’. The new Chancellor – the brightest political star for many a year – has followed through decisively. There was an extra £30billion of spending in the Budget, followed by £350billion of bailout … Read more
ALEX BRUMMER: Banks have shown a total lack of basic judgement by hiking overdraft fees while the economy goes into meltdown By Alex Brummer for the Daily Mail Published: 21:50 GMT, 26 March 2020 | Updated: 21:50 GMT, 26 March 2020 When the medical crisis became a financial crisis, High Street banks were quick out … Read more
The public response for volunteers to assist the NHS has been remarkable. A real tribute to the profound community spirit engendered by the health emergency. Many corporations also are responding in the right way. Ineos with sanitiser production. Barclays by waiving overdraft charges until the end of April, is doing the right thing on this … Read more
ALEX BRUMMER: Rishi Sunak baulks over a bailout for Britain’s 5m self-employed workers By Alex Brummer for the Daily Mail Published: 21:51 GMT, 25 March 2020 | Updated: 21:55 GMT, 25 March 2020 The demands from Britain’s 5m selfemployed and freelance workers for a parallel bail-out to those on Paye has been unrelenting, and a … Read more
Calvin Coolidge, who occupied the White House in the run-up to 1929 and the Great Depression, left little lasting impression. But his observation that ‘the chief business of the American people is business’ is as valid as ever. As Donald Trump and the Congress slugged it out over the shaping of the $2trillion (£1.7trillion) rescue … Read more