Business

Sunak at odds with Johnson over speed of UK lockdown exit

Published

4 years ago

May 23, 2020

Sunak at odds with Johnson over speed of UK lockdown exit

Tensions have opened up between Boris Johnson and Rishi Sunak, his chancellor, over the speed at which Britain’s lockdown is lifted, amid growing Treasury alarm at the damage wreaked on the public finances by the pandemic.

Mr Sunak told Tory MPs on a conference call that he wants to open up the economy as swiftly as possible, taking aim at the “very cautious” experts on the government’s scientific advisory body, Sage.

Mr Johnson told the cabinet earlier this month the government would “advance with maximum caution” as it gradually eases the lockdown. But the chancellor told Tory MPs of his frustration that so much of the economy remained shuttered.

“Somehow Greece and Italy are opening up,” Mr Sunak told them. “This country can’t be the only place in the world where people can’t go and have a drink in the pub.”

According to one MP on the call, Mr Sunak added: “The single best way to help tourism in this country is to allow people to open up.”

Under the government’s current plans, the hospitality sector — including pubs, hotels and restaurants — will not be allowed to reopen fully until July 4 at the earliest and only if key tests on the containment of the virus are met.

One MP said: “Rishi said the scientists on Sage were very cautious and that if we believed in opening up the tourism sector we had to make the case for it.” Another MP confirmed that Mr Sunak had struck a bullish tone.

Mr Johnson faces a big decision next week on the extent to which the lockdown is eased on June 1 — the next staging post for the government as it tries to unwind the restrictions that have strangled the economy.

Ministers say that Mr Johnson, who was treated in intensive care in hospital when he caught coronavirus, is taking the cautious view. Those ministers with economic portfolios want him to put a stronger emphasis on getting the country back to work.

Under the government’s “three-step” approach to easing the lockdown, ministers are expected to give the go-ahead on June 1 to the phased reopening of “non-essential shops”. They also want to start reopening schools and restart sports and cultural events behind closed doors.

Mr Sunak’s allies confirmed the conversation with Tory MPs had taken place but said the chancellor was not “gung-ho” on opening up the economy and that it had to be done in accordance with social distancing rules.

Other Tory officials said Mr Sunak and Mr Johnson were trying to hammer out a common approach. “They aren’t very far off in terms of their thinking,” said one. “Rishi comes at things from the Treasury perspective while the PM has to look at things in the round.”

Number 10 denied any splits with the chancellor, calling them “imagined”.

The scale of the economic challenge was underlined when the UK’s public finances lurched into the red in April, leading to a record increase in the government’s borrowing and a rise in the ratio of its debt to national income to the highest level in 57 years.

The central government net cash requirement — the amount Whitehall was in the red in cash terms — jumped to £63.5bn in April alone, a £73.3bn deterioration from a surplus of £9.8bn in April 2019. This was the largest single-month deterioration in the measure since records began in 1984.

Beis, the business department, has created a series of task forces made up of executives and trade groups to plan the next stage of business recovery, looking specifically at the next phased reopening of sectors such as retail and leisure.

On a call with business leaders on Thursday, Alok Sharma, business secretary, said there would be a new focus on economic recovery, as the government tries to bring business back to work.

The government is facing criticism from entrepreneurs such as Luke Johnson over the slow speed of the easing from lockdown.

Helen Dickinson, chief executive of the British Retail Consortium, said the sector was becoming impatient for clear guidance from Number 10. “The retail CEOs I speak to are increasingly frustrated. They are keen to open, and able to do so safely,” she said.

“But there are still necessary preparations — most notably, ensuring their teams are fully prepared and trained — which cannot be started without the go-ahead from government.”

(Note: This is a Article Automatically Generated Through Syndication, Here is The Original Source

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Business

David Beckham, Soccer Legend, Sues Hollywood Star Mark Wahlberg for Allegedly Defrauding Him of $16.4 Million

Published

23 hours ago

April 23, 2024

Manoj Nair

David Beckham, Soccer Legend, Sues Hollywood Star Mark Wahlberg for Allegedly Defrauding Him of $16.4 Million

Former deep friends and business associates, soccer legend David Beckham and Hollywood star Mark Wahlberg, are now crossing swords, with the former suing the latter over an £8.5 million ($16.4 million) dispute.

David Beckham Lawsuit Against Mark Wahlberg’s F45 Training Company

In his lawsuit, David Beckham alleges that Wahlberg’s F45 Training Company behaved fraudulently and misled during business transactions.

The lawsuit also names Wahlberg’s Mark Wahlberg Investment Group (MWIG), and F45’s founders, Adam Gilchrist and Rob Deutsch, as defendants.

The legal battle between Beckham’s firm, DB Ventures Ltd, and Wahlberg’s F45 Training began in 2022 and was later joined by Australian golf entrepreneur Greg Norman. However, the Judge directed the two parties to present their cases separately. Both Beckham and Norman alleged in their filings that Wahlberg misled them into becoming brand ambassadors. Beckham also claimed in the filing that he lost over £8.5 million because he did not receive the promised shares just before their value plummeted.

Beckham’s company, DB Ventures Ltd, had signed a deal with F45 Training, a company in which Wahlberg has a 36% stake and also serves as the chief brand officer. Beckham’s association with Mark began when he moved to California to play for the L.A. Galaxy and became F45’s Global Ambassador. Beckham, who has millions of social media followers, immensely benefited F45 through this association. However, Beckham never received the $10 million he was promised, and subsequently, the company’s shares tanked.

Wahlberg has refuted all the allegations as baseless and called for the lawsuit to be dismissed. He added that Beckham’s company is blaming everyone but not examining its own actions. Relations between Wahlberg and Beckham were very cordial, and the two were neighbors when the former English footballer moved to Los Angeles in 2007, residing in the same Beverly Hills location. Beckham also promoted F45 on social media, including Instagram, but the posts have since been deleted.

Beckham’s wife, Victoria Beckham, celebrated her 50th birthday on Saturday at a club called Oswald’s, along with her family, including her children Brooklyn, Romeo, Cruz, and Harper. The birthday party was also attended by her former Spice Girl bandmates Emma Bunton, Mel C, Mel B, and Geri Horner. The guest list also included Eva Longoria, Gordon Ramsay, and Tom Cruise.

Also Read: 4 Inspirational David Beckham Hairstyles That Every Fan Should Try At Least Once

Net Worth

Rizwan Sajan Net Worth 2024: How Much is the Indian Businessman Worth?

Published

2 days ago

April 22, 2024

Vishnu Chaudhary

Rizwan Sajan Net Worth 2024: How Much is the Indian Businessman Worth?

Who is Rizwan Sajan?

Rizwan Sajan is a distinguished Indian entrepreneur renowned for his founding role in The Danube Group, a leading building materials company based in Dubai. Despite humble beginnings, Sajan’s journey exemplifies resilience, determination, and the transformative power of entrepreneurship.

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Rizwan Sajan Career

Sajan’s career trajectory reflects a remarkable rise from modest origins to entrepreneurial success. Starting as a hardware store employee in Dubai during the early 1990s, he laid the groundwork for his future endeavors. His entrepreneurial spirit led him to establish The Danube Group in 1993, marking the beginning of his pioneering journey in the business world.

Rizwan Sajan Net Worth

As of 2024, Rizwan Sajan’s net worth stands at a staggering Rs 18,000+ crores. This substantial wealth places him among the elite echelons of business magnates globally, underscoring his exceptional achievements and contributions to the industry.

Rizwan Sajan Age

Born on August 8, 1963, Rizwan Sajan is currently 60 years old, symbolizing a lifetime of dedication, perseverance, and entrepreneurial prowess.

Rizwan Sajan Family: Wife and Children

Sajan cherishes a strong familial bond with his wife, Sameera Sajan, and their son, Adel Sajan, who is married to Dr. Sana Sajan. Their close-knit family dynamic underscores the importance of love, unity, and support in Sajan’s personal and professional life.

Rizwan Sajan Height and Weight

Specific details regarding Rizwan Sajan’s height and weight are not widely available, emphasizing the focus on his accomplishments rather than superficial attributes.

Also Read: Karl-Erivan Haub Net Worth 2024: How Much is the Former Managing Director of the Tengelmann Group Worth?

Net Worth

Karl-Erivan Haub Net Worth 2024: How Much is the Former Managing Director of the Tengelmann Group Worth?

Published

4 days ago

April 20, 2024

Vishnu Chaudhary

Karl-Erivan Haub Net Worth 2024: How Much is the British musician and bassist Worth?

Who is Karl-Erivan Haub?

Karl-Erivan Haub, a prominent figure in the German retail industry, was born into the influential Haub family on September 29, 1932, in Wiesbaden, Germany. He was the son of Erich Haub and Elizabeth Haub (née Schmitz-Scholl), belonging to the esteemed Mülheim family Schmitz-Scholl, renowned founders of the Tengelmann grocery chain.

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Karl-Erivan Haub Career

Haub’s career trajectory was marked by his dedication to the Tengelmann Group, one of Germany’s largest retail entities. After completing internships in the United States and obtaining a degree in economics from the University of Hamburg, Haub joined the family business in 1963. He ascended to the position of managing director in 1969, steering the company’s strategic direction towards retail trade expansion. Notable milestones include the acquisition of The Great Atlantic & Pacific Tea Company in 1979, which cemented Tengelmann’s international presence.

Karl-Erivan Haub Net Worth

At the time of his passing in March 2018, Karl-Erivan Haub left behind a significant net worth of $6.4 billion. However, recent developments have sparked intrigue, with reports surfacing of his alleged reappearance in Moscow after being declared legally dead in 2021. The circumstances surrounding his net worth remain uncertain amidst this perplexing saga.

Karl-Erivan Haub Age

Born on September 29, 1932, Haub would have been 91 years old in 2024 if he had not been declared legally deceased in 2021.

Karl-Erivan Haub Family: Wife and Children

Haub was married to Helga Otto in 1958, and together they had three sons: Karl-Erivan, Georg, and Christian W.E. Haub. His dedication to family and philanthropy underscored his personal and professional endeavors, leaving a lasting legacy beyond the business realm.