Investors seek greater clarity from boards amid coronavirus outbreak April 3, 2020 Investors are calling for greater clarity from boards as the coronavirus crisis wreaks havoc on the markets and upends financial guidance and AGMs. Investors are expecting more communication, whether through public disclosures or direct contact with management, to weather the storm over the next few months. Some investors have highlighted the lack of communication coming [...]
Ladbrokes and Coral withhold rent payments to landlords April 3, 2020 Ladbrokes and Coral have refused to pay rent on more than 3,000 shops, dealing a fresh blow to high street landlords who have been hit hard by the coronavirus lockdown. The two bookmakers, which are owned by GVC Holdings, withheld rent payments last week, according to Sky News. The firm insisted it would make up [...]
UK coronavirus death toll jumps 684 to 3,605 April 3, 2020 The UK’s coronavirus death toll jumped 684 today to 3,605, the Department of Health said. As of 9am today, a total of 173,784 people have been tested of which 38,168 tested positive, the department said. As of 5pm yesterday, 3,605 of those hospitalised who tested positive in the UK for coronavirus have died, the biggest [...]
Banks welcome Chancellor’s revamp of coronavirus loan scheme April 3, 2020 A revamp of the coronavirus loan scheme for businesses has been welcomed by banks after they faced criticism for delays. The government has pledged to guarantee £330bn of loans but only £14bn has been lent so far. The coronavirus business interruption loan scheme means businesses with a turnover of up to £45m can apply for [...]
Woman wrongly charged under new coronavirus legislation April 3, 2020 British Transport Police has admitted wrongly charging a woman who was fined under new coronavirus legislation. Following a joint review with the Crown Prosecution Service (CPS), the British Transport Police (BTP) said Marie Dinou had been charged under the incorrect section of the Coronavirus Act. She had been fined £660 by magistrates for breaching coronavirus [...]
Labour asks how Hancock’s coronavirus testing pledge will be met April 3, 2020 The government is under pressure to explain how it will increase its coronavirus testing ten-fold by the end of the month. Yesterday health secretary Matt Hancock said he wants 100,000 tests to be carried out every day, up from the 10,000 currently. However the Labour Party has said there is little detail on how this [...]
Fuller’s suspends dividend during closure of pub estate April 3, 2020 Fuller’s has suspended its dividend as part of cost-cutting measures during the closure of its entire pub estate amid the coronavirus lockdown. Like a number of firms exposed to the impact of the coronavirus lockdown, the Fuller’s board has decided to preserve further cash and suspend the final dividend. The pub firm said it had [...]
Stagecoach furloughs staff as government bails out bus firms April 3, 2020 Stagecoach has furloughed more than half of its regional bus staff after bus sales plunged amid the coronavirus lockdown. With commercial sales at local regional bus companies at around 15 per cent of “normal” levels, Stagecoach has already furloughed around 55 per cent of its bus drivers and engineering staff. Stagecoach’s update came as the [...]
Coronavirus selloff helps CMC Markets double revenue April 3, 2020 Online trading firm CMC Markets said it nearly doubled its annual net trading revenue, bolstered by last month’s coronavirus-induced selloff. In a pre-close trading update, the firm said it expects revenue from its contracts for difference business to be around £241m, up from £110.2m a year earlier. CMC said it had had “strong underlying performance” [...]
Watchdog eases cash call cap to help firms raise cash amid coronavirus outbreak April 1, 2020 The Pre-Emption Group (PEG) has said existing investors in UK-listed companies should be allowed to buy a bigger share of rights issues, in a move that could make it easier for firms to raise cash amid the coronavirus pandemic. The Financial Reporting Council (FRC) said the Pre-Emption Group (PEG) of listed companies, investors and intermediaries [...]
