Second wave of nudge letters seeking offshore funds lands from HMRC April 2, 2020 In last month’s Budget, chancellor Rishi Sunak declared that the Treasury would raise an additional £4.7bn over five years by further combating tax evasion and avoidance. Thousands of letters were sent at the end of February by HMRC, asking individuals suspected of not disclosing offshore assets to review their affairs. This is sent along with [...]
Zoom vows to fix security issues as daily user numbers surge to 200m April 2, 2020 Zoom has vowed to focus its resources on fixing a string of security issues as the video conferencing app reported a surge in user numbers during the coronavirus crisis. The popular video service has faced fierce scrutiny over its security and practices in recent weeks after a number of bugs were exposed. The company today [...]
Coronavirus: Online prices rise for medicines and stockpiled goods April 2, 2020 The online prices of essential household products and long-life food increased as demand soared due to the coronavirus outbreak. The latest data showed that online prices for high-demand products increased 1.1 per cent on average between the weeks ending 22 March and 29 March as consumers faced restrictions on visiting physical stores. According to the [...]
MPs call for clarity over coronavirus support for film and TV workers April 2, 2020 MPs have urged the government to clarify what support it will offer to people in the UK’s entertainment sector who are unable to work due to the coronavirus outbreak. The Digital, Culture, Media and Sport (DCMS) Select Committee warned there was a loophole in government measures that meant many workers could be excluded from existing [...]
Coronavirus: Carnival shares sink as cruise operator raises equity April 2, 2020 Cruise ship owner Carnival saw its shares sink over 8 per cent this morning after the firm said it had raised new equity at a higher cost than expected as the firm covers itself against the coronavirus disruption. Although its cruise ships are currently moored due to extensive restrictions on travel, the firm managed to [...]
Coronavirus: Saga seeks debt holiday and warns cruises could be suspended for six months April 2, 2020 Saga, the cruise operator and insurance provider for over-50’s, said this morning it plans to ask for a debt holiday as it warned that it could be forced to postpone holidays for up to six months. Saga’s share price dropped more than five per cent after it said full year revenue could be down around [...]
Wework threatens to sue Softbank over ditched $3bn share buyout April 2, 2020 Wework has threatened to sue Softbank after the Japanese investment giant abandoned plans to buy $3bn (£2.4bn) worth of additional shares in the company. Softbank, which owns a controlling stake in the coworking firm, agreed to the share tender last year as part of a rescue package following Wework’s botched public listing. The company said [...]
Calls grow for coronavirus loans rethink as almost half of UK firms see revenues sink April 2, 2020 Nearly half of all UK businesses have seen their revenue fall due to the coronavirus pandemic, a new survey has shown, amid calls for government to make it easier for struggling businesses to access loans critical to their survival. Office of National Statistics (ONS) data found 45 per cent of UK businesses saw revenues drop [...]
Coronavirus: National Grid suffers ‘delays and disruptions’ to capital programme April 2, 2020 Shares in National Grid are down almost five per cent this morning, after it said it was experiencing delays and disruption to its capital works programme. The FTSE 100 company said today that it expected its 2019-20 results to be in line with pre-Covid-19 expectations and that the virus would not have a “material impact” [...]
Coronavirus: Hotel Chocolat scraps dividend after £20m share placing April 2, 2020 Hotel Chocolat is the latest company to cancel its dividend in a bid to save cash during the coronavirus crisis. The high street chain said this morning that it has scrapped the proposed interim dividend, which was due to be paid to shareholders on 15 April, after raising an extra £20m through a share placing [...]