The speed at which most businesses adopted wearing face masks led to disposable masks being procured as the 'perceived' lowest cost solution. The safe disposal of disposable masks however was largely not factored into the cost equation. The Government provides stringent guidelines for safe disposal of disposable face masks with specific processes and procedures that … [Read more...]
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Diageo profits down and brand value lowered
Profits at global drinks giant Diageo fell by almost 50% to £2.1bn in the year to the end of June, as the impact of Covid-19 was felt globally. Sales dived down affected by the closure of pubs, bars, nightclubs and restaurants forcing Diageo to write down the value of its brand portfolio by £1.3 billion. Ivan Menezes, CEO, Diageo stated that the business moved swiftly in … [Read more...]
Government need to appoint a Covid-19 Minister
Last year Brexit dominated our lives, such was the significance of Brexit a government minister responsible for all things Brexit was appointed. This year Covid-19 emerged and has already proved to be a far more significant issue than Brexit, but no ministerial appointment made. As Secretary of State for Health and Social Care, Matt Hancock has certainly taken a lead in … [Read more...]
Virgin Atlantic files for bankruptcy in New York
Virgin Atlantic declared itself bankrupt in a New York court yesterday seeking protection from creditors. Working under the US Chapter 15 bankruptcy code, Virgin Atlantic can look to shield assets in the US through this process. Non-US companies frequently use chapter 15 to stop creditors filing claims on assets held in the US. The airline is fighting the ongoing impact from … [Read more...]
Accor CEO reports “violent and unprecedented” first half 2020 finances
Accor have today released first half 2020 results that are an almost shocking reflection of the impact from Covid-19 on hotels and hospitality worldwide. The scale and scope of Accor enables a global picture of the crisis, presenting financial numbers emphasising how Covid-19 has hit their balance sheet. The first half of 2019 showed a profit of €141 million, in the … [Read more...]