8:23 am, April 17, 2020
- Here’s your round-up of the latest motoring, business and world news on Friday, April 17
New Government-backed loans scheme launched for mid-sized businesses
Mid-sized and larger businesses with a turnover of more than £45m will be allowed to access funding through a new government scheme from Monday, according to the British Business Bank.
Chancellor Rishi Sunak said companies can apply for the loans from lenders accredited by the banking group, through the Coronavirus Large Business Interruption Loan Scheme.
Bosses with sales between £45m and £250m can apply for the short-term loans and financial support of up to £25m if they have been forced to shut down operations or been impacted by the virus shutdown. Larger businesses with sales of more than £250 million can also take the support.
Jeremy Clarkson is hosting a pub quiz on YouTube
Grand Tour host and former Top Gear presenter Jeremy Clarkson is heading up an online pub quiz tonight.
Starting at 7pm on the DriveTribe YouTube channel, Clarkson’s quiz is set to feature five rounds with subjects covering history, sport, general knowledge, and a ‘cunning’ visual round.
Tim Rodie, editorial director at DriveTribe, said: ‘Jeremy’s time on Who Wants to Be a Millionaire shows he’s got the chops to handle the quizmaster role.’
Burger King, KFC and Pret begin a limited reopening
Food chains including Burger King, KFC, and Pret a Manger have said they will be reopening some stores for takeaway and delivery.
The bigger chains are expected to be offering a limited menu and no dining-in option. Four Burger King branches opened yesterday. KFC is reopening 11 of its restaurants with staff volunteering to work.
Pret A Manger has resumed food production in 10 shop kitchens located near hospitals for takeaway and delivery with a 50 per cent discount for NHS staff until the end of April.
Auto Trader ads to be free in May too
Auto Trader advertising packages will continue to be free for car dealers into May, the website has confirmed today.
Following the government’s announcement that the UK lockdown will continue for a further three weeks, the website acknowledged that this will continue to cause ‘unprecedented levels of disruption’ to dealers.
Ferrari commences production of respirator valves and fittings
Ferrari has kicked off production of respirator valves and fittings for protective masks to aid in the fight against coronavirus.
The supercar manufacturer is building the components at its manufacturing plant in Maranello, Italy, in the department where car prototypes are usually created.
Ferrari plans to manufacture several hundred items of equipment over the next few days, which will be distributed with the help of the Italian Civil Protection to a variety of Italian hospitals.
EasyJet to keep middle seats empty when flights resume
EasyJet expects to keep its middle seats empty when it resumes flying to enable social distancing.
Chief executive Johan Lundgren said the measure is aimed at encouraging passengers to fly after the coronavirus pandemic recedes.
Bentley Mulsanne production extended because of coronavirus shutdown
The flagship Bentley Mulsanne has seen its production run extended because of the coronavirus pandemic.
The British firm’s Crewe factory is currently shut to protect the workforce from Covid-19, meaning there are still 30 examples of the Mulsanne 6.75 Edition by Mulliner to be built.
Bentley expects the Mulsanne production run to now end in the summer.
Quarter of firms shut doors in face of coronavirus
A quarter of businesses have temporarily halted trading in response to the coronavirus outbreak, according to new figures.
The Office for National Statistics (ONS) said 25 per cent of the 5,316 firms surveyed said they temporarily closed or paused trading in the two weeks to April 5.
Firms which have continued to trade furloughed an average of 21 per cent of their workforce over the period, the survey said.
Three-month payment holiday for car finance customers proposed
Customers struggling to pay for car finance agreements should be offered a payment holiday of three months under proposals announced today by the FCA.
The Financial Conduct Authority, which regulates the finance industry, has said it expects firms to provide a three-month payment freeze to customers who are having temporary difficulties meeting finance or leasing payments due to coronavirus.
The proposals have been announced today so finance companies can comment before they are finalised and put into force by Friday, April 24.
Trump unveils phased approach to reopening US economy
New White House guidelines outline a phased approach to restoring normal commerce and services, but only for places with strong testing and seeing a decrease in Covid-19 cases.
President Donald Trump unveiled his administration’s plans to ease social distancing requirements on a call with the nation’s governors yesterday.
The new guidelines are aimed at clearing the way for an easing of restrictions in areas with low transmission, while keeping them in place in harder-hit places. Places with declining infections and strong testing would begin a three-phased gradual reopening of businesses and schools, with each phase lasting at least 14 days, meant to ensure the virus outbreak does not accelerate again. Those most susceptible to the respiratory disease would be advised to remain sheltered in place until the final phase.
Honda expands battery recycling partnership
Honda has announced that it is expanding its battery recycling partnership. The firm is working with Société Nouvelle d’Affinage des Métaux to explore the sustainable usability of its end-of-life batteries.
An agreement between the two companies sees SNAM collect and recycle used batteries from Honda’s range of hybrid and electric vehicles, and then prepare them for ‘second-life’ renewable energy storage uses. If that can’t be achieved, then the valuable materials from the batteries will be extracted for recycling.
Four in 10 hit financially by coronavirus ‘have lost half their income or more’
Nearly four in 10 people who have been financially impacted by coronavirus have seen half their income or more wiped out, a survey has found.
Some 14 per cent of people whose income had been impacted said it has reduced by around half, a further seven per cent say it has been cut by more than half and 16 per cent say they have lost their income completely, according to consulting company Kantar.
This makes a total of 37 per cent of people across Britain whose incomes have been affected who said it had reduced by half or more. However, three per cent said their income had increased.
Chinese economy suffers biggest downturn since 1970s
China suffered its worst economic contraction since at least the 1970s in the first quarter as it fought the coronavirus.
Weak consumer spending and factory activity also suggest the country faces a longer, harder recovery than initially expected.
The world’s second-largest economy shrank 6.8 per cent from a year ago in the three months ending in March after factories, shops and travel were shut down to contain the infection, official data showed on Friday.
Phishing emails increase during coronavirus outbreak
More than two-fifths of people suspect they have been targeted by bogus ‘phishing’ emails during the coronavirus outbreak.
TSB surveyed people in April and found 42 per cent of people suspect they have been targeted by phishing attacks during the Covid-19 outbreak.
Just under three in 10 (29%) also suspect they have been contacted by fraudsters by phone and 28% by text.
Carwow reveals 1,000 new car orders placed during lockdown
Carwow sales director John Miele revealed on Car Dealer Live yesterday that more than 1,000 orders had reported by its dealer partners during the lockdown.
Miele joined host James Baggott on Car Dealer Live today (April 16), with managing director Athena Hubble and editorial director Mat Watson, to discuss the trends they’re seeing in Carwow’s European territories of the UK, Spain and Germany. You can watch the full interview below.
More: Yesterday’s news round-up can be found here
Source: PA Media, Car Dealer Magazine
