European regulators scrutinise investment fund liquidity sparked by sell-off April 20, 2020 Asset managers across Europe are coming under increased scrutiny as regulators ask for new information about their ability to meet investor withdrawals. The French and German financial regulators are asking for daily updates of investor redemptions as they seek to stave off a liquidity crunch sparked by the coronavirus-induced market sell-off. It comes after investors [...]
US oil prices plummet to 21-year low as demand dries up April 20, 2020 US oil prices have plunged 40 per cent to their lowest level since 1999 as demand dries up and storage facilities struggle to cope with the surplus of oil. The price of a barrel of West Texas Intermediate (WTI) – the benchmark for US oil – dropped to $11.65 today, amid fears production might have [...]
City grandees demand cash calls accommodate private investors April 20, 2020 Senior City figures are calling for listed companies seeking equity capital to accommodate private investors, amid a fundraising rush. In an open letter to chief executives of UK plc, City stakeholders said they fear rules giving existing stockholders first refusal on new shares will mean private investors will lose out. The letter, first reported in [...]
Plus500 chief executive Asaf Elimelech resigns with immediate effect April 20, 2020 Plus500 chief executive Asaf Elimelech has resigned from the company with immediate effect, after four years at the helm. The group’s chief operating officer, David Zruia, will assume the role of interim boss alongside his day to day responsibilities until a permanent replacement is found. Elimelech has a notice period of 12 months and will [...]
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: When are supermarket opening times for NHS and pensioners? April 17, 2020 As the UK heads into lockdown because of the coronavirus outbreak, supermarkets have enforced tighter restrictions and changed opening hours. Prime Minister Boris Johnson yesterday ordered all “non-essential” shops to close, leaving supermarkets one of the few stores to remain open. In recent weeks supermarkets have struggled to keep shelves replenished as consumers embarked on [...]
Nearly half of UK companies have scrapped dividend payments April 9, 2020 Nearly half of UK companies have scrapped dividend payouts as the coronavirus crisis batters business. The pace of dividend cuts has accelerated since the FTSE 100 slumped to its lowest point in over 25 years last month. Link Group’s UK dividend monitor shows 45 per cent of UK companies have scrapped payments, worth £28.2bn. It [...]
Invesco chiefs warn listed companies over cash calls April 8, 2020 Invesco has told listed companies they must make a convincing case for raising “precious and expensive” equity during the coronavirus pandemic. A letter sent by the co-heads of UK equities at Invesco, obtained by Sky News, sets out their expectations for corporate fundraising. It came after the Financial Conduct Authority (FCA) announced temporary measures to [...]
FCA eases rules to speed up company capital raising April 8, 2020 The Financial Conduct Authority (FCA) has set out temporary measures to help listed companies raise cash quickly during the coronavirus crisis. The watchdog said it was likely many companies will turn to capital markets to raise money to support their recovery. Since lockdown measures prevent more than two people meeting, it’s harder to obtain shareholder [...]
Boris Johnson stable after second night in intensive care April 8, 2020 Prime Minister Boris Johnson spent a second night in intensive care but is in a stable condition after receiving oxygen support. Johnson tested positive for coronavirus nearly two weeks ago and was admitted to St Thomas’ hospital in London on Sunday night. On Monday evening he was admitted into intensive care after his condition deteriorated. [...]
