MPs and firms have criticised banks for insisting on personal guarantees to issue government-backed emergency loans to business owners. The new requirement loads most of the risk that the loan goes bad on the business owner, rather than the banks, which means the banks can go after the personal property of the owner of a…
The Chancellor Rishi Sunak will today announce a package of support for Britain’s 5m self-employed people to help them through the coronavirus pandemic after Boris Johnson decreed they should have “parity of support” with employed counterparts. The self-employed would submit forms to HM Revenue & Customs, the tax authority, declaring their recent income, if there…
Facebook has been in talks to buy a stake in Mukesh Ambani’s digital operation Reliance Jio to try to expand its presence in the Indian digital market with a preliminary deal for a 10 per cent share. Google also has been engaging in talks with Reliance Jio, after Microsoft last year announced plans to work…
The government is about to launch its scheme to help small businesses access crucial loans this week after widespread criticism that it had not acted fast enough to aid companies who are struggling to survive being hit hard by the impact of coronavirus. Small companies are rapidly running out of cash as society shuts down…
Santarem city, west of central Para esrado (state) in North Brazil, on the bank of Tapaios river near the convergence to the Amazon river. Santarem founded in 1661 as a Jesuit mission. to a Tapajo Indian settlement (aldeia) where a fort was built by Pedro Tiexeira. It became a town in 1758 known as Tapajos…
In India Parsis from Persia were instrumental for popularising and producing carbonated beverages in India two centuries ago, which is now a £7bn industry. A bottle of Pallonji’s Raspberry soda come with a disclaimer “Contains no fruit”Electric red in colour syrupy drink sold in the Irani cafes in Western city of Bombay. Soda had…
Samsung the South Korean electronics group dynasty overtook Apple as the biggest profit generator in the second quarter of 2017 as Economist and Wall Street JOunrl Journalist, Geoffrey Cain highlights part of genius of Samsung’s business model” and reveals an explosive expose of one of the biggest and most secretive companies in the world, as Samsung…
The death toll of coronavirus rises by 33 to 137. The Bank of England has cut interest rates again the lowest ever in the Bank’s 325-year history to 0.1 per cent from 0.25 per cent in an emergency move as it tries to support the UK economy amid coronavirus pandemic. 42 stations on the London…
India’s struggling Yes Bank, one of the country’s largest private lenders, which was taken over by the Reserve Bank this month, to prevent the lender’s collapse, reported a $2.5bn quarterly loss and rise in bad loans as authorities prepared for the final stages of a rescue plan to prevent septicity through a financial system already…
As per data from AirDNA showed Airbnb bookings have collapsed by 40 per cent in China and European cities due to the Covid-19 pandemic, their plans for an initial public offering this year are seriously in doubt. The cancellation or suspension of big conferences and festivals such as South by South West in Austin, Texas…