Coronavirus: British companies rush to mothball results after City watchdog calls for delay March 23, 2020 British companies are rushing to delay the publication of their results following an unprecedented call from the financial regulator for results to be suspended due to the coronavirus crisis. The Financial Conduct Authority (FCA) said late on Saturday that listed firms planning to report preliminary results in the next few days should mothball them for [...]
Adbreaks during an outbreak: How to advertise during coronavirus lockdown March 23, 2020 After a week in which the coronavirus outbreak has turned life on its head for everyone in the UK, companies are having to learn quickly about how best to operate over the coming months. Some, like toilet roll manufacturers, find themselves in prime position to both help society and make huge steps forward commercially from [...]
Stagecoach and Go-Ahead scrap dividends over coronavirus March 23, 2020 Stagecoach has issued a coronavirus profit warning today as both it and Go-Ahead scrapped their dividends as travel restrictions bite. The operator warned it will now miss its target for adjusted earnings per share for the 12 months to the start of May. “The quickly developing Covid-19 situation means we no longer expect to achieve [...]
Government launches £330bn coronavirus business loan scheme March 23, 2020 The government has launched the first stage of a £330bn loan guarantee scheme for businesses, to help small and medium-sized firms borrow up to £5m to help them weather the impact of coronavirus. “Any viable business” with a turnover of up to £45m will be able to apply to banks for an 12-month interest-free loan, [...]
Pearson issues 2020 profit warning on coronavirus closures March 23, 2020 Education publisher Pearson today issued a profit warning for 2020 and paused a £350m share buyback as a result of the coronavirus pandemic. The firm, already suffering from a difficult transition from print to digital, warned it expects a “negative impact” on 2020 profit from closing its testing centres. The postponement of US state exam [...]
Coronavirus: PM to rush emergency legislation through the Commons March 23, 2020 The Prime Minister is hoping to rush sweeping new coronavirus legislation through the House of Commons, as the country faces the prospect of a lockdown. MPs will return to the Commons today to debate the government’s emergency coronavirus bill, which was set out last week. Under the proposals, which would be time-limited for two years, [...]
DEBATE: Should government pay wages to workers affected by coronavirus? March 23, 2020 Should the government pay wages to workers whose incomes have been affected by the coronavirus crisis? YES – Sam Bowman, director of competition policy at the International Centre for Law & Economics. This is a very unusual recession. It is self-inflicted, and will hit highly productive and less productive businesses alike. To allow them to [...]
McDonalds, Topshop and New Look close stores due to coronavirus March 23, 2020 High street retailers have begun to shut stores in response to the coronavirus pandemic in the UK. Topshop, New Look and H&M are among the major UK retail chains to temporarily shut all branches over the weekend. The government ordered all pubs, bars, clubs and restaurants to close on Friday as the public were encouraged [...]
London Stock Exchange pushes for virtual AGMs due to coronavirus March 22, 2020 The London Stock Exchange Group is lobbying for companies to be allowed to hold remote annual general meetings during the coronavirus pandemic. LSE and other City groups are pushing for the government to make emergency amendments to the Companies Act to avoid disruption during the AGM season, Sky News reported. The broadcaster said that law [...]
Coronavirus: UK airlines await government rescue package March 22, 2020 The UK’s airlines are hopeful that the government will unveil its special package of measures to combat the financial impact of the coronavirus outbreak in the coming days as they struggle to remain airborne due to the slump in air travel. The aviation sector remains in talks with transport secretary Grant Shapps over the shape [...]