According to the latest statistics, the UK economy is forecast to have grown by 6.6% during July 2020, meaning it will have recovered 88% of its pre-lockdown size.
This is a somewhat positive change from the 20.4% downturn reported at the close of Q2.
A vast percentage of this growth would have come down to the re-opening of shops, bars, restaurants and other hospitality establishments, together with many businesses like Manufacturers being able to re-open their doors.
However, with threats of local lockdowns looming, combined with changes to national COVID-19 restrictions, business leaders across the country now need to focus on continuing to push their business forwards and recover any losses garnered through the peak of the pandemic.
With that in mind, what can business leaders do to ensure they continue to maintain momentum and actually emerge stronger post COVID-19?
Cineworld is to shut all of its 128 UK and Ireland cinemas, putting thousands of jobs at risk, according to reports.
The cinema chain could announce the decision, which would put up to 5,500 jobs at risk, as early as tomorrow, reports The Sunday Times.
It comes as bosses of Cineworld Group PLC, the world’s second-largest cinema chain, are reportedly preparing to write to Prime Minister Boris Johnson and culture minister Oliver Dowden to say the industry has become ‘unviable’.
Cineworld chiefs have blamed the decision, which is expected to be a temporary measure until next year, on the postponement of big budget films in the wake of coronavirus pandemic, the reports say.
Yesterday, the release of the new James Bond movie No Time to Die was delayed until April 2021, just weeks before it was about to be released. The highly-anticipated film had already been postponement from its
Erik Siemers, the editor of the St. Louis Business Journal, writes about the paper’s founding on its 40th anniversary.
Siemers writes, “Even for all that effort, the expectations, at least from Vittert’s perspective, were minimal. All he wanted was to produce something he’d like to read, and hoped a few of his friends might join him. ‘There was no big plan,’ he said. ‘Not even the remotest thought of what this would end up turning into.’