PRESS DIGEST- Financial Times - April 22

PRESS DIGEST- Financial Times - April 22
  • Country:
  • Iran

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

- John Lewis furloughs 14,000 staff as coronavirus hits sales https://on.ft.com/2ziyJUN - Admiral to refund 110 mln pounds of premiums as drivers stay at home https://on.ft.com/3cA0G8Y

- Daimler and Volvo team up to create 1.2 bln euros fuel cell company https://on.ft.com/2XQWPjT - Hancock under pressure over testing as blame game begins https://on.ft.com/3bnQikx

Overview - John Lewis has put 14,000 of its staff on furlough as it warned that sales at its department stores could fall by as much as a third this year.

- Insurer Admiral said on Tuesday it will return 110 million pounds ($135.31 million) to motor insurance customers because people are driving less during the lockdown. - Swedish truck maker Volvo said on Tuesday it had signed a deal with German rival Daimler with the aim of bringing hydrogen-powered heavy-duty vehicles to the market in the second half of the decade.

- UK health secretary Matt Hancock is under growing pressure over his pledge to carry out 100,000 daily coronavirus tests by the end of April. ($1 = 0.8129 pounds) (Compiled by Bengaluru newsroom)

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