Tuesday newspaper round-up: Lloyds, coronavirus loans scheme, Carnival
By Michele Maatouk
Date: Tuesday 07 Apr 2020
(Sharecast News) - Mark Barnett, the protege of fallen investment star Neil Woodford, has been sacked as manager of a ?400m investment trust for poor performance. Barnett has been handed six months' notice by Invesco Perpetual Income and Growth Investment Trust after more than 20 years as its manager. - Guardian
On Tuesday afternoon the eurozone's 19 finance ministers will dial into a conference call that could define the region for years to come. Solidarity in the currency union has been in short supply in recent weeks even as the fragile eurozone became the epicentre of the coronavirus outbreak. Weeks of talks over a joint response to the economic carnage caused by Covid-19 have been largely fruitless. - Telegraph
Lloyds staff have claimed they are struggling with unclean office space and ultra-long hours as the banking industry scrambles to cope with surging demand. Workers told trade union BTU that they are putting in 18-hour days amid an onslaught from small business customers afraid of going bust during the lockdown. - Telegraph
High street banks have blamed the government-owned body responsible for overseeing the coronavirus loans scheme for delays preventing thousands of small businesses from accessing urgently needed funds. The criticism of the British Business Bank comes as Rishi Sunak, the chancellor, prepares to meet bank bosses this week to discuss how they are implementing the scheme. - The Times
Saudi Arabia's sovereign wealth fund has built an 8.2 per cent stake in Carnival, the struggling cruise operator, worth about $430 million on the company's current share price. The move by the Public Investment Fund, which has previously taken stakes in Uber and Tesla, is seen as a vote of confidence in the beleaguered cruise industry. - The Times
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