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...L.S. Lowry has always been popular in the UK, but incredibly, not overseas....
...“We were lucky to face a crisis years ago and focus on the company’s turnround in 2018 and 2019; it made it easier for us to face Covid,” said chief executive Cristina Scocchia, the former boss of L’Oréal...
...The Fontaine de l’Observatoire sits astride the 0° meridian from which the world is measured. Except it’s not. That too was a French dream....
...The pandemic’s immediate impact on incomes has prompted widespread concern and rapid government action in the form of the multibillion pound furlough scheme and other support....
...Even so, “enticing staff back to work, knowing they had furlough [payments] until October was really, really tough”, says Ms Wilson....
...Both groups, however, have pledged not to put their employees in France on the country’s “partial activity” scheme, which allows companies to reduce workers’ hours or furlough them while the state covers...
...With the uncertainty of demand and the expense of refitting stores to combat Covid-19 and recalling workers from furlough, the hesitation is perhaps understandable....
...Mokrane Embarek agreed to buy L’Auberge Normande, a restaurant and hotel in the Norman town of Saint-Lô, shortly before the pandemic erupted....
...David Hollingworth, director at mortgage broker L&C, said that the options for low-deposit lending were already limited as the housing market emerges from lockdown....
...In 2022, DPDHL expects to make at least €4.7bn, even in the event of a so-called L-shaped recovery, which includes “significant setbacks in the pandemic development”....
...French cosmetics group L’Oréal has also pledged to pay its small and medium-sized suppliers faster....
...Trading blow Across Europe, governments have used a mix of loans, furlough schemes, rent and tax holidays and grants to try to protect citizens and businesses....
...could reopen and it would start to furlough most of the staff this week....
...“Are we going to have a co-ordination between the phasing-out of unemployment benefits and furlough schemes and a pick-up of activity?” she asked....
...Victoria’s Secret parent L Brands, which has about 94,000 employees, said on Friday that most of its store workers would be put on leave without pay....
...Finally, Bunzl the FTSE 100 supplier of everything from coffee stirrers to cleaning and hygiene products, said it would repay furlough money to the government after a better than expected trading performance...
...These numbers reflect a job market still propped up by the furlough scheme, which is due to be phased out in October....
...By contrast some big multinationals, including L’Oréal and Total in France, have vowed to forgo state aid in a show of solidarity with taxpayers....
...Even then the document suggests that the final deficit could be even higher, as much as £516bn — rising to £1.19tn over five years — if there is an “L-shaped economic decline”....
...Or does a U, W — or dreaded L — shape loom instead? That is the question preoccupying many investors — particularly since the equity markets have recovered with a remarkable V shape....
...“Month by month, my P&L looks worse in the six months after lockdown than it does for three months of it,” said the chief executive of one small fashion retailer....
...Many tenants can no longer afford to pay the rent; a number that is set to soar this autumn as the furlough scheme ends and redundancies rise....
...As lockdowns around the world begin to lift, many are wondering when employment numbers will start to follow suit — and what the recovery will look like, whether its V-, W- or L-shaped....
...Sycamore had sued to walk away arguing that the employee furloughs and other measures taken in response to the pandemic had damaged the business. L Brands countersued to enforce the agreement....
...“A lot of lenders moved away from accepting as much variable income as they did before the pandemic,” says David Hollingworth, director at mortgage broker L&C Mortgages....
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