Seven Stories – 29/04/2020

Nicole Wise

Doctors launch legal challenge over PPE in response to government guidelines

Amidst strong nationwide concerns in the UK regarding the lack of personal protective equipment made available to healthcare staff in the fight against Covid-19, two doctors have commenced a legal challenge against government guidelines introduced last week that permitted staff to wear poor quality aprons in place of gowns. A letter sent to Public Health England by Bindmans LLP, the London law firm acting on behalf of the doctors, addresses the issue, alongside concerns of the disproportionate effect of Covid-19 on BAME staff. Multiple sources have stated that 72% of all medical staff that have died from the virus are from a BAME background, despite making up 44% of NHS medical staff.

SRA approves solicitor qualification before PSC completion

In response to the Covid-19 pandemic, the Solicitors Regulation Authority have confirmed that trainee solicitors are able to qualify without first completing the Professional Skills Course, alongside news that it is currently not required that trainees have completed the LPC. Under normal circumstances, the PSC would be completed during a training contract and is the final hurdle before qualification. Numerous training providers have also worked alongside the SRA to move previously required face-to-face assessments for the PSC, online. Firms such as Barbri Altior have released a virtual version of the Advocacy and Communication module over the past two weeks.

CMA provisionally approve Amazon investment in Deliveroo

The Competition and Markets Authority (CMA) has provisionally approved Amazon’s investment in Deliveroo, after launching an investigation in June last year.

The CMA had faced criticism for the delay in its decision, with accusations from the start-up industry that the delay has reduced the level of investment in nascent British firms. The provisional approval has been made in light of Deliveroo’s deteriorating financial position as a result of the Covid-19 pandemic, with Deliveroo having stated that without Amazon’s investment, the business would fail and exit the market. The UK regulator are now awaiting views, with a deadline in early May. A final decision will then be made the next month.

NHS CV19 app set to launch in the next few weeks

The use of technology is increasingly being implemented in different aspects of daily life, and its use as a prevention against the coronavirus is no exception. Alongside France’s trial of cameras that are able to detect whether or not customers in supermarkets are wearing masks, numerous countries are in the process of developing apps to track the spread of Covid-19. The NHS has decided to develop its own app, instead of using one developed by Apple and Google. The app will be able to warn users if they have been in close contact with someone who has tested positive for the virus, but it relies on users sharing the fact that they have become unwell with coronavirus symptoms. Similar smartphone apps have been implemented in Australia and have been integral in preventing a second outbreak in China.

British Airways planning to make 12,000 staff redundant

With countries having no option but to restrict international travel in the wake of the coronavirus, the subsequent impact of such restrictions on the airline industry have been both enormous, and mostly unavoidable. In response to the worldwide collapse in the aviation industry, British Airways have revealed plans to make up to 12,000 staff redundant, having already signed up 22,600 employees to the government’s furlough scheme. Multiple airlines have warned that their number of flights would not return to the same levels as before the virus for at least a few years. Some airlines have taken other measures, with Sir Richard Branson appealing to the government to bail out Virgin Atlantic through a £500 million loan.

HSBC reveal poor quarterly results and potential $11 billion credit loss provision

The economic downturn resulting from the Covid-19 pandemic has already been unprecedented in a number of respects, and its particularly dramatic effect on the financial sector has been exemplified this week after the first large European lender to report its first quarter earnings, HSBC, saw its profits halve. This comes alongside the news that HSBC have had no choice but to put aside $11 billion to cover bad debts. This is the largest credit loss provision since HSBC took a loan loss provision during the eurozone debt crisis in 2011. The bank has also announced that they have paused plans made in February to cut 35,000 jobs, due to concerns that it would leave employees in a difficult position, in terms of finding employment during the pandemic.

UK markets begin to show signs of recovery

The FTSE 100 reached a seven-week high this week and pushed back over the 6,000 points mark on Wednesday morning. This is the first time that the FTSE 100 has been above 6000 points since it crashed on March 12, on what was the worst day for the index since Black Monday in 1987. Stocks such as Barclays, Standard Chartered, ITV, and BAE systems saw substantial rises in value of between 3.5-6%, and the general recovery for stocks has been aided by rising oil prices; US crude and Brent crude have gained 13% and 3% respectively. However, the sharp fall in the European Commission’s economic sentiment index, which was at 67.0 points this month compared to 94.2 in March and 103.4 in February, is a potentially negative signal for investors.