Over the past three weeks, the crisis has severely deepened with over half the worldwide population either confined and/or under lock-down. This has resulted in a virtual standstill of travel, dining and entertainment, which is vastly affecting our industry. Today more than half Accor branded hotels worldwide are closed, likely over two thirds in the coming weeks. One piece of … [Read more...]
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Sodexo amidst COVID-19 pandemic demonstrates market leadership through actions
Below is an outline of some of the actions taken around the world by Sodexo, it merits a few minutes to read, as it demonstrates mindfulness that is much needed currently. Sodexo has reaffirmed its wholehearted commitment to its clients, consumers, suppliers and employees in 67 countries, through combating the health, economic and social fallout from COVID-19. Everywhere, … [Read more...]
Rishi Sunak acts today to enforce bank compliance with Government CBILS policy
The Chancellor Rishi Sunak is today taking further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies. Amidst growing pressure that UK banks simply weren’t doing enough, fast enough, Sunak through the statement below issued earlier from HM Treasury today, has … [Read more...]
Banks undressing Rishi Sunak in front of our eyes
Chancellor of the Exchequer Rishi Sunak has looked like the saviour of UK Businesses in recent weeks. The lack of action by banks to follow his instructions however looks like they are already trying to undress the new emperor. Rishi Sunak enjoyed a very accomplished career as a banker prior to entering government, as such he understands how banks work and what UK businesses … [Read more...]
Banks need to find balance and gratitude and repay UK government and taxpayers now
Finding some balance is exactly what the UK economy needs right now, and a good dose of balance is what UK banks need right now too. In the years leading up to the financial crash in 2008 banks simply couldn’t lend people and businesses enough money. Lending money was making banks, or so they thought, enormous profits. The trouble was that the lending criteria, especially in … [Read more...]