Housebuilder Vistry to cut jobs after acquisition of Galliford Try’s homes unit May 20, 2020 UK housebuilder Vistry warned it will cut more jobs as it continues to consolidate operations following Bovis Homes’ acquisition of and Galliford Try’s residential business. The firm, which was called Bovis until the merger last year, said a consultation on reducing its employee headcount was ongoing, and it expected the cuts to result in annual [...]
UK house prices jumped before coronavirus lockdown brought market to standstill May 20, 2020 UK house prices jumped in March before the coronavirus lockdown brought the housing market to a standstill. The average UK house price increased 2.1 per cent in the year to March, up from two per cent in February. London house prices soared 4.7 per cent, the largest 12-month growth recorded in the capital since December [...]
Experian says coronavirus lockdowns could hit first quarter revenue May 20, 2020 Data credit company Experian said today it could take a 10 per cent revenue hit in the first quarter if government coronavirus lockdown policies persist through the period. The London-listed business said it was not providing financial guidance for the current financial year because of the unpredictability of the crisis which had caused major disruption [...]
Severn Trent ups dividend but warns of coronavirus impact May 20, 2020 Severn Trent today said it would pay a final dividend but warned the coronavirus pandemic was likely to lead to unpaid bills and a decline in sales to businesses over the next year. Severn Trent proposed a final dividend of 60p, up from 56p last year. The water company booked a bad debt charge of [...]
Superdrug launches UK coronavirus test to check for antibodies May 20, 2020 Superdrug has launched a UK coronavirus test to allow the general public to check whether they have already had Covid-19. The high street retailer will sell the coronavirus antibody test, which it said is accurate and reliable, through its Online Doctor service for £69 from today. The UK coronavirus test will not be on sale [...]
Marks & Spencer shares rise on coronavirus revamp, despite blow to profit May 20, 2020 Marks & Spencer’s full-year profit sank 21 per cent as it took a £212m hit from coronavirus at the end of March, the retailer revealed today. However, investors pushed M&S’ share price up 4.6 per cent to 89.8p as the pandemic forced the British high street brand into an overhaul to save over £1bn. The [...]
Rolls-Royce to swing axe at 9,000 employees over coronavirus May 20, 2020 Rolls-Royce warned today it will look to make at least 9,000 workers to cut £1.3bn in annual costs as it copes with the economic downturn from coronavirus. The British engine-maker warned it will swing the axe mostly at staff in its civil aerospace division as it begins consulting unions. That prompted the government to say [...]
Bloomsbury print book sales drop during coronavirus lockdown May 20, 2020 Publishing group Bloomsbury warned this morning that print revenue has plummeted during the coronavirus pandemic as book shops around the world have closed during lockdowns. In Bloomsbury’s worst case scenario, print revenue, which comprised 79 per cent of total sales last year, could fall between 60 per cent to 65 per cent this year. In [...]
Coronavirus: Over half of UK firms cannot reopen fully, survey shows May 20, 2020 Almost 50 per cent of UK firms are only ready to partially reopen their businesses as the government lifts the coronavirus lockdown, a survey has shown, with one in 10 saying they cannot restart at all due to Covid guidelines. The survey, from the British Chambers of Commerce (BCC), also showed that 85 per cent [...]
£500m Future Fund launch mired by fears startups will miss out May 20, 2020 Future Fund, the government’s £500m answer to startups’ need for cash to survive coronavirus, is set to launch today – but risks freezing out a swathe of British firms, entrepreneurs and investors have warned. That many startups cannot yet demonstrate a turnover, and that they typically rely on equity investment for cash flow, excludes most [...]