PM warns Mike Ashley – obey the rules or face the consequences March 25, 2020 Prime Minister Boris Johnson has warned Sports Direct boss Mike Ashley to “obey the rules or to expect the consequences”, after the retailing heavyweight insisted staff must continue working during the coronavirus outbreak. During a bumper PMQs, Johnson was repeatedly asked about the situation facing workers, particularly self-employed, who currently have no additional support beyond [...]
ECSC shares rise as cybersecurity firm boosts revenue March 25, 2020 Shares in ECSC jumped almost 10 per cent this morning after the cybersecurity firm posted a sharp rise in revenue for the year. The figures ECSC’s organic revenue grew 10 per cent to £5.91m in the year to 31 December 2019. Revenue from its managed services division jumped 48 per cent to £2.59m. Adjusted earnings [...]
Qantas raises over AU$1bn to guard against coronavirus disruption March 25, 2020 Australian flag carrier Qantas has secured over AU$1bn (£501m) worth of new funding as the airline seeks to bolster its financial position against the ongoing coronavirus disruption. The debt, which has been taken out against seven of the airlines’ 787-9 planes, will hold for 10 years at an interest rate of 2.75 per cent. This [...]
London Stock Exchange to allow dividend delay over coronavirus disruption March 25, 2020 The London Stock Exchange is to allow companies listed on its market to delay the payment of dividends by up to 30 days as markets grapple with the impact of coronavirus. “As a result of market conditions and issuers implementing their contingency plans, the Exchange has received enquiries from issuers and their advisers regarding deferral [...]
Coronavirus: Parliament to shut down for four weeks March 25, 2020 Parliament will be suspended from tonight for at least four weeks in response to the government’s new coronavirus measures. The House of Commons is set to pass an emergency bill today that will bring forward the beginning of Easter recess by one week. It comes after some MPs were reportedly concerned that it was a [...]
Debate: Is it appropriate for businesses to invoke a ‘wartime spirit’ during the coronavirus outbreak? March 25, 2020 As the coronavirus outbreak curtails practically every aspect of our daily lives, some have compared efforts to fight it to the fabled “wartime spirit” of World War II. Is this appropriate, asks City A.M.? Yes, says Rob Nowell, global marketing director at Edge by Ascential Around 80 years ago, World War II caused entire sectors [...]
Coronavirus: Whatsapp usage jumps 40 per cent during lockdown March 25, 2020 Whatsapp usage has surged since the outbreak of coronavirus as people increasingly turn to the social media app to stay connected. Overall, the messaging platform has enjoyed a 40 per cent increase in usage, rising to 51 per cent for countries in the late phase of the pandemic. The largest rise came in Spain, where [...]
Coronavirus: Bellway scraps dividend and warns of ‘substantial disruption’ March 25, 2020 Bellway has warned of a period of “substantial disruption” during the coronavirus outbreak, as it cancels its interim dividend to preserve its balance sheet. Bellway said the coronavirus outbreak had threatened liquidity across the economy and as such, the board is taking immediate action to preserve the balance sheet. The housebuilder’s interim dividend will be [...]
Coronavirus advice for workers must be clearer, says business committee chair Rachel Reeves March 25, 2020 The government needs to issue clearer coronavirus guidance for workers to address concerns employees are being unnecessarily forced to go into work, said Rachel Reeves, chair of the business select committee. In a letter to business secretary Alok Sharma, Reeves said the committee had received hundreds of messages from workers concerned about their employers’ response [...]
UK retailers most pessimistic since financial crisis amid coronavirus outbreak March 25, 2020 UK retailers are at their most pessimistic since the financial crisis as sales of non-essential goods plummet due to coronavirus containment measures, a survey has shown. However, grocers and other food firms have seen a surge in demand as Brits stockpile during the coronavirus lockdown, the CBI said today. This divergence of fortunes for Britain’s [...]