Bitcoin at February lows after Musk tweets; AT&T merging WarnerMedia with Discovery– business live
Rolling coverage of the latest economic and financial news
- Latest: AT&T’s to spin off WarnerMedia, merge with rival Discovery
- Deal brings Warner Bros, HBO, CNN together with Discovery’s TV shows
Earlier:
- Introduction: Bitcoin plunged last night after Musk tweet…
- …then Musk “clarifies speculation”: Tesla has not sold any Bitcoin
- Analysts: Bitcoin has lost upward momentum
- UK ‘faces labour shortage’ as Covid and Brexit fuel exodus of overseas workers
The government’s bill for tackling Covid-19 has risen by £100bn since the start of the year and now stands at £372bn, according to the independent watchdog that oversees Whitehall spending.
Figures from the National Audit Office highlighted the financial impact of the lockdown imposed to cope with the winter surge in cases of the pandemic and brought a stark warning from the MP who chairs the Commons committee of public accounts.
“Government expects to spend an eye-watering £372bn in response to the pandemic, and public accountability has never been more important.”
Related: Covid expected to cost Britain £372bn, says National Audit Office
Many UK holidaymakers are booking stays at two or more hotels with a view to cancelling all but one at the 11th hour, prompting fears among accommodation businesses of last-minute cancellation “chaos”.
“Many holidaymakers have booked both a foreign holiday and a UK stay, and our data shows they are often holding on to both. If they decide at the last minute to risk a holiday abroad, a late rush of cancellations in the UK would create chaos across the whole industry as hotels scramble to fill their suddenly vacant rooms.
Many of these just won’t be filled, resulting in tens of millions of pounds in lost revenue.”
Related: Risk of last-minute cancellation ‘chaos’ as UK holidaymakers hoard bookings
