New Aston Martin boss focused on restarting production April 20, 2020 Aston Martin’s new chairman Lawrence Stroll has said that his priority is to restart the firm’s manufacturing operations as he takes over the company in the midst of the coronavirus crisis. The Canadian billionaire, who agreed in January to take a 20 per cent stake in the luxury car maker, said he was taking charge [...]
DFS mulls equity issue to soften impact of extended coronavirus lockdown April 20, 2020 DFS has confirmed it is in the process of negotiating additional funding and is preparing a equity issue in order to cushion the blow of the coronavirus pandemic. The sofa retailer said it was negotiating an additional debt facility of £60-70m with its existing lenders, to supplement the existing bank facility of £250m. Alongside this [...]
Coronavirus: London finance jobseekers surge by 43 per cent April 20, 2020 The number of London finance professionals seeking employment has surged over 40 per cent in the first three months of 2020 even as coronavirus hit salaries and vacancies, new data showed today. Jobseekers in the UK finance industry rocketed 43 per cent compared to the first quarter of 2019, according to Morgan McKinley’s Spring London [...]
Coronavirus: Decision to cut Tube services caused overcrowding, say transport watchdogs April 20, 2020 A decision made by Sadiq Khan and Transport for London (TfL) to reduce Tube services has caused overcrowding during the coronavirus lockdown, according to the UK’s two largest transport watchdogs. The mayor of London, on numerous occasions, blamed overcrowding on some Tube lines to people using the network unnecessarily at peak times. This caused a [...]
Coronavirus: Knight Frank and Rightmove call for stamp duty holiday to reignite market April 20, 2020 Estate agent Knight Frank and property platform Rightmove have both backed a stamp duty holiday as part of a package of measures to reignite the housing market after the coronavirus lockdown is lifted. The companies have separately called for a stamp duty holiday to be among a range of measures designed to stimulate the market, [...]
Financial advice industry grew in 2019 despite rising costs and regulation April 20, 2020 The financial advice industry grew last year despite rising costs and widening regulation, research published today showed. The sector’s growth has been driven by ever more complex financial needs, low growth in DIY investing and a lack of alternatives to spending time with a professional adviser, the survey from fund data provider FE fundinfo found. [...]
Wage subsidy scheme opens as start-ups get new £1.25bn package April 20, 2020 Applications open today for the government’s coronavirus wage subsidy scheme as the Treasury also announces a further £1.25bn package for start-ups and research and development firms. The job retention scheme will see the government pay 80 per cent of wages, up to £2,500 a month, to furloughed employees unable to work because of the coronavirus [...]
UK retail parks fare better in lockdown than high streets and shopping centres April 20, 2020 The number of shoppers visiting the UK’s retail destinations plunged by a record amount last month due to coronavirus, however a surge in supermarket demand helped to shield retail parks. UK retail footfall plummeted 44.7 per cent in March due to the mandatory lockdown which restricted movement and forced all non-essential stores to close. In [...]
Coronavirus: European IPO market ‘virtually inactive’ since March April 20, 2020 The initial public offering (IPO) market in Europe has been “virtually inactive” since March due to coronavirus, however secondary equity raises have spiked as companies seek to shore up their finances during the crisis. Only seven public offerings were launched on European exchanges between early March and mid-April, according to the latest research. European IPOs [...]
Coronavirus hits hospitality: Loan scheme leaves restaurants high and dry April 19, 2020 Ranald MacDonald is Managing Director of Boisdale’s Restaurants In newspapers, so I’m told, a cracking story is known as a “marmalade dropper,” so named because it stops you – and indeed your toast – in your tracks. And that’s exactly what Rishi Sunak’s announcement of a £330bn rescue package for British business to get through [...]