The government must convince commercial landlords to forego some of the rent built up during the pandemic or face a wave of insolvencies when payments fall due in July, business leaders have warned. Speaking at a Treasury select committee hearing, trade body bosses in travel, hospitality and retail said the easing of restrictions was not enough to avoid business failures and job losses in debt-laden sectors. – Guardian
Sadiq Khan is preparing to cut Tube and bus services, axe jobs and close departments at Transport for London as he scrambles to fill a gaping hole in the capital’s public transport budget. The London mayor must save £900m a year under the terms of TfL’s latest bailout from Westminster after its business model was wrecked by Covid. – Telegraph
Rishi Sunak, the Chancellor, has vowed that the City will remain “competitive and dynamic” despite Brussels bid to steal its crown, in a private call with bank bosses. Speaking alongside Prime Minister Boris Johnson and the Governor of the Bank of England, Mr Sunak told listeners that the financial services industry is seen as a “crown jewel” and the country will fight to protect it. – Telegraph
Apple is taking on the likes of Zoom and Google with new changes to its FaceTime video-calling app, as it tries to gain a slice of the booming video conference call market. At its annual developers’ conference last night, Apple announced that FaceTime would be available on the web so that users could join calls from Android devices and Windows PCs. Apple’s video-calling service previously had been available only on iPhones, Macs and its other company devices, making it impossible to carry out video calls with friends and colleagues who do not use Apple products. – The Times
America’s top markets watchdog has said that it is closely monitoring volatility around so-called meme stocks for signs of illicit activity. The US Securities and Exchange Commission did not name any companies, but issued its statement as shares in AMC Entertainment, the world’s largest cinema chain, rallied by a fifth. – The Times
