Business News Round Up (19/05/2020)
UK jobless claims soar by a record 856,000 to 2.1m in April
The number of people claiming unemployment increased 69.1% to 2.1 million in April, according to the latest official unemployment data, highlighting the impact of the current pandemic on the economy. The Office for National Statistics (ONS) revealed 856,000 people applied for benefits in April – the biggest monthly increase since records began. The ONS estimated the UK unemployment rate at 3.9 per cent between January and March, slightly higher than the previous quarter. Employment hit a record high of 76.6 per cent before lockdown began, the ONS data also showed.
https://www.cityam.com/uk-jobless-claims-soared-69-per-cent-to-2-1m-in-april/
UK Government provides details on the Future Fund, platforms can participate
The UK’s fastest growing start-ups will be able to apply for the Future Fund beginning May 20, following a period of deliberation where the UK government sought to sort out the details as to how, and for who, the COVID-19 support program would provide capital. Under the scheme, start-ups which have previously received £250,000 in equity from third-party investors and which are based in the UK, will be able to access convertible loans as large as £5 million from the Government. These loans will almost all convert into equity on a company’s next funding round.
North West staff give views on home working – PWC
The switch to home working has left employees in the North West working fewer hours and feeling more productive, new research shows. A survey by professional services firm PwC found that 56% of employees working from home reported they are working fewer hours than before the lockdown, with 45% reporting they are more productive when working away from the office. However, the survey found that when compared to other regions North West employees are least likely to say they feel more productive compared to those living in the South East.
https://www.insidermedia.com/news/north-west/north-west-staff-give-views-on-home-working-pwc
Scottish based tech companies are asked to put forward challenging and innovative ideas to help build digital nation
Tech firms across Scotland are being asked to contribute to building the country’s future as a digital nation. The ScotlandIS Challenge, launched today in partnership with the Scottish Government, is calling on Scottish-based tech firms to submit ideas that will help further develop the country’s critical digital and data infrastructure. The resulting projects will be taken forward as part of the Scottish Government’s CivTech process, which brings together the public and private sectors to deliver innovative solutions.