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Out Of The Industry

Barclays not liable for alleged sexual assaults during medicals, court rules

More than 100 patients have claimed they were assaulted by doctor between 1968 and 1984

Barclays is not liable for the alleged sexual assault of more than 100 patients by a doctor carrying out medicals on the bank’s behalf, the supreme court has ruled.

The UK’s highest court overturned earlier rulings that the bank was “vicariously liable” for any assault proven to have been carried out by Dr Gordon Bates, who died in 2009 aged 83.

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Source: The Guardian

Almost a fifth of small businesses 'at risk of collapse within month'

Study suggests some SMEs will struggle to secure government cash in coronavirus lockdown

Almost a fifth of UK small businesses are at risk of collapsing within the next month as they struggle to secure emergency cash meant to support them through the coronavirus lockdown, according to research by an accountancy network.

The chancellor, Rishi Sunak, has pledged unprecedented aid to companies to try to cushion the blow from much of the economy shutting down but businesses and politicians have raised concerns that there are gaps in the schemes.

Related: Markets slide as UK banks cancel dividends amid Covid-19 woes – business live

Income subsidies

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Source: The Guardian

UK banks agree to scrap £8bn dividends amid recession fears

Lenders asked to scrap cash bonuses for 2020 in order to help ease the impact of financial turbulence

Britain’s largest banks have agreed to scrap nearly £8bn worth of dividends in light of the coronavirus crisis, giving banks an additional cushion to weather an economic downturn.

The Bank of England has also ordered lenders to cancel plans for cash bonuses for executives, as it asked financial institutions to boost their strength ahead of a likely recession.

Related: UK payday lenders start suspending new loans in Covid-19 crisis

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Source: The Guardian

Barclays offers triple overtime pay for staff on coronavirus frontline

Boost for thousands working in call centres and branches to implement state aid for businesses and borrowers

Barclays is offering triple overtime pay to frontline staff as it tries to manage an “unprecedented” surge in demand for mortgage holidays and government-backed business loans during the coronavirus lockdown.

The move will affect thousands of lower-paid employees in call centres and branches who are working extra hours to deal with an increase in customer calls and a jump in the number of colleagues off work because they are ill, self-isolating or juggling childcare. It is understood that up to 30% of Barclays’ key staff have been unable to work at any one time during the outbreak.

Income subsidies

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Source: The Guardian

Grounded easyJet faces further turbulence with Stelios negotiations | Nils Pratley

Founder is embroiled in a row with the airline as he demands it ditches an order for 107 Airbus aircraft

Grounding its entire fleet of planes was the easy bit for easyJet. Now comes the tricky task of negotiating in public with Sir Stelios Haji-Ioannou, who, metaphorically speaking, is threatening to storm the cockpit and take hostages.

The founder and 34% shareholder (with a couple of siblings) says he will call a shareholder meeting to fire one easyJet non-executive director every seven weeks unless the board does what he wants, which is to abandon an order for 107 Airbus aircraft due to arrive in batches until 2023.

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Source: The Guardian

UK payday lenders start suspending new loans in Covid-19 crisis

Lockdown forces many high cost lenders to shift loans and collections online

Payday lenders have started to suspend new loans and tighten lending rules because of fears that low-income borrowers will not be able to afford repayments during the coronavirus crisis.

Doorstep lender Morses Club became the latest high cost creditor to withdraw loans for new customers on Monday. It comes nearly a week after sub-prime lender Amigo said it would temporarily pause all new lending activity, “given the ongoing uncertainty that the economic implications of Covid-19 could have for our customer base”.

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Source: The Guardian

Panic buying on wane as online shopping takes over, says bank

Starling says peak supermarket shopping due to coronavirus was two weekends ago

There is an early sign that supermarket panic buying may be on the wane, if figures from the online bank Starling are an accurate guide to how shoppers are behaving.

The bank, which has 1.25 million UK account holders, said transactions in supermarkets peaked two weekends ago and had been falling since.

Symptoms are defined by the NHS as either:

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Source: The Guardian

Barclays sets net zero carbon target for 2050 after investor pressure

Bank pledges to align all of its financing activities with goals of Paris climate agreement

Barclays has bowed to investor pressure over its climate track record and announced plans to shrink its carbon footprint to net zero by 2050.

The bank, which has its headquarters in London, has pledged to align all of its financing activities with the goals and timelines of the Paris agreement, starting with the energy and power sectors, and to publish “transparent targets” to track its progress.

Related: Banks warned against profiteering from UK coronavirus crisis

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Source: The Guardian

Ignore the bankers – the Trump economy is not worth more coronavirus deaths | Robert Reich

CEOs, billionaires and advisers have the president’s ear and want people back to work. They are callous – and wrong

Dick Kovacevich, former CEO of Wells Fargo bank, thinks most Americans should return to work in April, urging that we “gradually bring those people back and see what happens”.

Related: ER doctor who criticized lack of protective gear says he was fired

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a columnist for Guardian US

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Source: The Guardian

Which companies are coming through during the coronavirus crisis?

Some firms have stepped up to support employees, key workers and the NHS – but others have fallen well short

The dramatic effect of the coronavirus on the British economy has posed serious challenges for the country’s companies and their employees. Some have been applauded for their actions – making donations to health workers, for instance – while others have quickly fallen foul of politicians, the public and their own workers. Here is a list of those who deserve plaudits and brickbats so far.

Related: Leon sets up initiative to deliver free meals to NHS critical care staff

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Source: The Guardian