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Sunday newspaper round-up: Lockdown, Vaccines, Social distancing

Sun, 26th Apr 2020 23:44

(Sharecast News) - Boris Johnson is expected to announce plans for easing the lockdown as early as this week after he returned to Downing Street on Sunday night to take full-time control of the coronavirus crisis. The Prime Minister will on Monday morning chair his first meeting of the Covid-19 "war cabinet" since he was taken to hospital more than three weeks ago, and is ready to resume his role hosting televised Number 10 press conferences. - Sunday Telegraph
A coronavirus vaccine is unlikely to be ready until "well into the next year", the former deputy chief medical officer for England warned this morning. Professor Gina Radford urged people to be "realistic" about the possibility of a vaccine. She told Sky News' Sophie Ridge on Sunday show: "Firstly we haven't at the moment got a vaccine so we are having to start from scratch [...]". - Sunday Times

Lifting lockdown for all except the elderly would see more than than 100,000 die, the scientist behind the government's modelling has warned. Professor Neil Ferguson spoke out amid growing calls for an easing of social distancing restrictions in order to limit the damage to the economy. The Imperial College scientist said that sending the young and healthy back to work while keeping the vulnerable "shielded" in lockdown would still mean a significant increase in deaths. Prof Ferguson's earlier modelling - which warned of 500,000 deaths unless draconian restrictions were placed on Britain - prompted the Prime Minister to put Britain into lockdown. - Sunday Telegraph

The public's confidence in the government's ability to handle the coronavirus crisis has fallen sharply in the past fortnight, with less than half of voters now having faith in decisions made by ministers, according to the latest Opinium poll for the Observer. A particularly low proportion of people (15%) believe the government is handling the key issue of testing well (down from 22% two weeks ago). Some 57% disapprove of the way testing has been handled, up from 48% on 7 April. - Guardian

Detailed Brexit trade negotiations planned for this week were cancelled on Monday, with Government sources indicating that the UK is preparing the ground to seek a mutually agreed extension to the talks in the coming weeks. As the coronavirus crisis deepened, senior Whitehall sources also confirmed that civil servants who had been working on Brexit "no deal" preparations were being actively redeployed into virus crisis management. - Sunday Telegraph

Bank of England officials have launched an investigation into how long banks can survive the lockdown, as Britain's biggest lenders set aside an estimated ?3.4billion to cover defaults on loans. The results of the tests are expected to inform the Government's strategy on how quickly to reboot the economy. The Bank of England has already said that it will report on the health of the financial system in early May after updating its 'stress tests' to factor in a pandemic. - Mail on Sunday

Lloyds Banking Group has been forced to redeploy hundreds of staff from branches to deal with emergency loan applications and customer support lines. Some workers have been told that part of their job is now to send "decline emails" to small businesses applying for the government's Coronavirus Business Interruption Loan Scheme (CBILS), according to a bank executive. Others have been moved from branches to help make lending decisions. Lloyds said that some staff had been made responsible for sending rejection letters so customers could "get a swift decision and quickly consider other options". - Sunday Times

Playtech has postponed the hunt for a permanent replacement for chairman Alan Jackson a year after kicking off the search. The FTSE 250 gambling software provider is instead poised to announce that non-executive director Claire Milne has agreed to step into the role on an interim basis. Playtech had appointed headhunters from Sam Allen to find a replacement for Jackson, who is due to step down on May 20, and said in February that the succession process was "nearing completion". However, sources close to the company said the search, which had been whittled down to two candidates, had been postponed due to the coronavirus pandemic. - Sunday Times
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7 May 2020 07:28

Banks can withstand pandemic fallout on economy - BoE

LONDON, May 7 (Reuters) - A "desk top" stress test has shown that top banks and building societies can withstand the anticipated economic fallout from the coronavirus pandemic, the Bank of England said on Thursday.The BoE's Financial Stability Rep...

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6 May 2020 12:31

WRAPUP 2-Britain's mid-sized banks coping with coronavirus, but warn of pain ahead

* Virgin Money half-year results dented by coronavirus provision* Metro Bank deposits rise but no guidance on pandemic impact* OneSavings Bank reports steady lending, margins* Virgin Money shares up 11%, OneSavings up 7% (Adds details, further quo...

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6 May 2020 11:16

Small Businesses Get GBP2 Billion On First Day Of UK Government Loans

Small Businesses Get GBP2 Billion On First Day Of UK Government Loans

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6 May 2020 10:31

WRAPUP 1-Britain's mid-sized banks coping with coronavirus, but warn of pain ahead

* Virgin Money in the red after coronavirus provision* Metro Bank deposits rise but no guidance on pandemic impact* OneSavings Bank reports steady lending, margins (Adds details, quotes, analyst comments)By Iain Withers and Sinead CruiseLONDON, May...

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6 May 2020 10:04

UK says over 2 bln pounds lent on first day of new credit scheme

LONDON, May 6 (Reuters) - Britain's finance ministry said more than 69,000 loans to small businesses worth more than 2 billion pounds ($2.5 billion) were made in the first 24 hours of the launch of the emergency coronavirus credit scheme which ca...

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6 May 2020 09:34

UK BROKER RATINGS SUMMARY: Jefferies Raises Hiscox To Buy From Hold

UK BROKER RATINGS SUMMARY: Jefferies Raises Hiscox To Buy From Hold

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6 May 2020 07:25

CORRECTED-UPDATE 1-Virgin Money profits erased by coronavirus provision

(Corrects provision to 232 million pounds from 237 million pounds)LONDON, May 6 (Reuters) - Virgin Money swung to a first-half loss after setting aside 232 million pounds ($288 million) to handle loans likely to turn sour as a result of the coron...

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6 May 2020 07:25

UPDATE 1-Virgin Money profits erased by coronavirus provision

LONDON, May 6 (Reuters) - Virgin Money swung to a first-half loss after setting aside 237 million pounds ($294.7 million) to handle loans likely to turn sour as a result of the coronavirus crisis.The bank, which became the UK's sixth-largest lende...

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6 May 2020 06:00

Irish mortgage approvals fall 9.9% year-on-year in March

DUBLIN, May 6 (Reuters) - Mortgage approvals by Irish banks fell 9.9% year-on-year in March with the first major effects of the coronavirus set to become apparent in April's data, the Banking and Payments Federation Ireland (BPFI) said on Wednesd...

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5 May 2020 17:15

Lloyds Lends GBP1 Billion To Small Businesses In 24 hours

Lloyds Lends GBP1 Billion To Small Businesses In 24 hours

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5 May 2020 13:27

Tuesday broker round-up

(Sharecast News) - Stagecoach Group: Canaccord upgrades to buy with a target price of 110p.

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5 May 2020 10:04

German court says some aspects of ECB bond buying programme are 'constitutional'

(Sharecast News) - Germany's top Constitutional Court called into question the "proportionality" of the European Central Bank's main bond purchase programme, but did not call into question the basic outline of the monetary authority's strategy.

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5 May 2020 09:29

UK BROKER RATINGS SUMMARY: Bereneberg Prefers Brewins Over Rathbones

UK BROKER RATINGS SUMMARY: Bereneberg Prefers Brewins Over Rathbones

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4 May 2020 15:42

UK EXECUTIVE CHANGE SUMMARY: Scapa Healthcare, Industrial Heads Resign

UK EXECUTIVE CHANGE SUMMARY: Scapa Healthcare, Industrial Heads Resign

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4 May 2020 15:17

UPDATE 1-BoE's Woods says banks have enough lending capacity in pandemic

(Adds further comment)By Huw JonesLONDON, May 4 (Reuters) - Banks should have more than enough available capital to back the expected volume of loans to help companies bridge the coronavirus pandemic, Bank of England Deputy Governor Sam Woods said...

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