Monday, 25 May 2020 07:25 AM MYT
LONDON, May 25 — British Finance Minister Rishi Sunak has authorised a bailout plan to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a “last resort” basis after other options run out. “In exceptional circumstances, where a viable company has exhausted all options and its failure would disproportionately harm the economy, we may consider support on a ‘last resort’ basis,” a spokeswoman from the Treasury said in an emailed statement.
Under the plan, which is named “Project Birch”, the finance minister has raised the UK Treasury’s capacity to handle bespoke bailouts of “viable” companies which have exhausted all options, including government loan schemes, theThe newspaper also reported that the state could buy stakes in crucial businesses that are facing acute financial problems.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK's Sunak authorises bailout to rescue strategically important companiesTreasury's support offer for 'viable' companies will apply across all sectors of Britain's economy.FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »
UK's Sunak authorises bailout to rescue strategically important companiesTreasury's support offer for 'viable' companies will apply across all sectors of Britain's economy.FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »
British lawmaker says UK must defend its companies against overseas takeover | Malay MailLONDON, May 24 — Britain must defend its companies against overseas takeovers in the aftermath of the crisis caused by the coronavirus outbreak, a senior British lawmaker said, adding that China’s state-owned companies have drawn on state banks to outbid rivals. “Increasingly, China’s...
Source: malaymail - 🏆 1. / 86 Read more »
Moody’s: Pressure keeps rising for Apac companies as coronavirus impact becomes clearer | Malay MailKUALA LUMPUR, May 25 — Moody’s Investors Service said about 22 per cent of 476 rated non-financial companies in Asia Pacific (Apac) have high exposure to coronavirus disruptions, up from 20 per cent in March, as the effects of the pandemic on companies’ credit quality have...
Source: malaymail - 🏆 1. / 86 Read more »