5 Things You Need To Know, Today, on Tuesday 19th May 2020
Justin Waite
5 Things You Need To Know
05:00, 19th May 2020

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5 Things You Need To Know, Today, on Tuesday 19th May 2020

5. Uber has announced a drastic action plan to scale back its business as its losses balloon amid pandemic lockdowns.

The firm said it would cut 3,000 more jobs, bringing the total reductions in recent weeks to a quarter of the workforce.

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4. Britain and the United States both have “high ambition” to reach agreement on services, investment and digital trade as part of bilateral trade talks that began this month.

Britain’s international trade department said an initial round of trade talks with Washington that concluded Friday was “positive and constructive,”

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3. The owner of High Street restaurant chains Cafe Rouge and Bella Italia has filed intent to appoint administrators at the High Court.

Owner Casual Dining Group, whose brands also include the Las Iguanas chain, employs about 6,000 people.

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2. Clothes stores are ramping up plans to reopen - and big discounts could be on offer.

Fashion retailers have been badly hit by the coronavirus crisis and even those with robust online offerings have reported huge drops in sales.

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1. Comments from top officials at the Bank of England about negative interest rates has revived talk that the British central bank might resort to cutting borrowing costs below zero.

BoE’s chief economist, Andy Haldane, said the central bank was looking more urgently at negative interest rates as well as at buying riskier assets.

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Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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