UK coronavirus: Tesco restricts online orders to 80 items each March 27, 2020 Tesco has said online customers will have their deliveries capped at 80 items, in the latest move to safeguard supplies during the coronavirus outbreak. In an email to customers the supermarket said the aim was “to increase the number of customers we can safely deliver to”. Tesco urged customers to visit stores during the nationwide [...]
Mitie unlikely to pay dividend as it cuts costs March 27, 2020 Mitie does not expect to pay a dividend this year if overall trading does not improve and has pledged cost-cutting measures due to the coronavirus outbreak. The outsourcing firm said it had identified £25m in savings and would be cutting board and executive pay to mitigate the impact of the pandemic on its finances. All [...]
Royal Mail expects UK parcels business to make a loss as uncertainty deepens March 27, 2020 Royal Mail has warned of “significant uncertainty” during the coronavirus outbreak, as it predicts its UK parcels business will make a loss next year. The postal service warned of the “potential for sharp and sustained economic downturns” for the next financial year. Royal Mail has predicted its UK parcels, international and letters (UKPIL) business will [...]
Coronavirus: Mike Ashley ‘deeply apologetic’ for series of mistakes March 27, 2020 Frasers Group boss Mike Ashley has said he is “deeply apologetic” for a series of blunders in the company’s handling of the coronavirus outbreak. The Sports Direct owner wrote an open letter in which he apologised for his own personal actions and those of the Frasers Group business. Earlier this week, the group had pledged [...]
Number of coronavirus cases in US overtake Italy and China March 27, 2020 The US has become the global epicentre of the coronavirus outbreak, as the number of confirmed cases surpassed China and Italy. The US has more than 86,000 positive tests, surpassing China’s 81,782 cases and Italy, the epicentre of the outbreak in Europe, which has confirmed 80,589 cases. However, the death toll in the US, which [...]
Investors flee UK funds for cash with bond funds the worst hit March 26, 2020 Record amounts have flowed out of UK funds this month with bond funds hit the hardest as investors flocked towards cash. As the coronavirus crisis deepens and fears of a recession mount, UK funds have shed £4.4bn in the month to date, according to figures from global funds network Calastone. This week there was a [...]
Topps Tiles warns on profit and suspends dividend March 26, 2020 Topps Tiles has issued a profit warning and does not expect to pay a dividend this year as it closes stores amid the coronavirus outbreak. The tile specialist said the pandemic will result in a “material reduction” to expectations for revenue and profit and is not expecting to pay an interim dividend this financial year. [...]
British Land scraps dividend and defers £40m in rent March 26, 2020 British Land has suspended its dividend and will defer £40m in rents this quarter and spread repayment in response to the coronavirus outbreak. The firm is deferring March quarter day rents and spreading repayment over the six quarters from September 2020. The financial impact of this is expected to be £40m. The company added it [...]
Non-Standard Finance cuts lending amid coronavirus outbreak March 26, 2020 Non-Standard Finance is cutting lending across its divisions in a bid to mitigate the effects of the coronavirus outbreak on its financial performance. The sub-prime lender said it is reducing lending volumes across all three of its divisions to shift resources to managing collections. The group said it would continue to offer credit, subject to [...]
BoE and Treasury to resume coordinated response to prevent coronavirus slump March 26, 2020 The Bank of England (BoE) and Treasury will resume their coordinated drive to prevent the coronavirus-related economic shutdown from triggering a deep recession. The BoE, which has already made two emergency cuts to interest rates this month, is reportedly likely to hold off on further action when it makes a statement at noon after its [...]
