Small firms are to get access to 100% taxpayer-backed loans after they raised concerns about slow access to existing coronavirus rescue schemes. Chancellor Rishi Sunak told the House of Commons the scheme would start next week, offering firms loans up to £50,000 within days of applying. It aims to unlock a backlog of credit checks by banks amid fears many small firms could fold before getting loans. The scheme requires filling in a two-page self-certification form online.
Virgin Media, one of the UK's largest internet providers, has apologized after its broadband service crashed for thousands of customers. Customers have been struggling to get online after an "intermittent broadband issue" on Monday evening. Virgin Media said it is investigating the issue, which is seeing broadband connectivity interrupted for a short period of time before being restored.
The UK’s biggest betting and gaming companies are to cease advertising their products on TV and radio during the lockdown after MPs called for a halt. The Betting and Gaming Council, which represents 90% of the UK’s betting, gaming, bingo, and casino companies, said booked TV and radio slots would either feature safe gambling messaging from charities or be removed entirely if contracts with broadcasters permitted.
With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities.
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