The next pandemic?

The 1-minute read to get all the money news plus expert adviser views.

Global treaty

20 world leaders including Boris Johnson have called for countries to work together to defeat future pandemics. They say the coronavirus crisis has been a reminder that “nobody is safe until everyone is safe”. The treaty would be similar to the post-WW2 agreement, and would aim to share resources, data, and research between countries to build resilience.

Deliveroo IPO

Deliveroo will float its shares on the London Stock Exchange tomorrow. It’ll be the UK’s biggest initial public offering (IPO) in a decade. With a strong year of lockdown business under its belt, it was fully subscribed within hours. But many big investors are sitting this one out, over concerns about riders’ working conditions and the threat of strike action.

Even more Spoons

Wetherspoon has announced plans to open 18 new pubs and create 2,000 new jobs, starting within weeks of pubs reopening. It’s investing £145 million to boost its business across the UK, and says it’s just the start of a 10-year expansion plan. Spoons boss Tim Martin did warn that the investment is conditional on the UK reopening its hospitality sector permanently, with no further lockdowns.

Tube squeeze

Transport for London (TfL) is facing a 12% hit to revenue with passenger numbers predicted never to return to pre-pandemic levels. 1 in 5 will no longer need TfL’s services, according to analyst Moody’s. London transport relies on fares to cover 70% of its costs, more than the likes of Paris and New York where fares make up just 35% of income.