Virgin Atlantic joins calls for airport testing regime September 9, 2020 Virgin Atlantic’s chief executive has added his voice to calls for airport testing to replace the government’s blanket quarantine regime, saying it is the “only way” to get the economy going again. Speaking to the BBC this morning, Shai Weiss said: “The economy, which is already in deep recession will not take off unless we [...]
Haulage firm Wincanton sees shares jump on home delivery surge September 9, 2020 Shares in logistics firm Wincanton jumped over 10 per cent this morning as the haulage specialist said that full year profit was on course to be “materially ahead” of forecasts. In a trading update, the FTSE 250 firm said that it had seen a “continued improvement in profitability in July and August, with a particularly [...]
Tullow Oil falls to $1.3bn loss after massive oil price writedown September 9, 2020 Tullow Oil fell to a $1.3bn loss in the first half of the year after it was forced to write down $1.4bn due to a lowering of its price outlook. With a mounting debt pile, the oil exploratory firm said that it was in the process of evaluating refinancing options, with a capital markets day [...]
Business leaders back switch to airport testing September 9, 2020 The majority of UK business leaders believe the government should scrap the current quarantine regime on air travel and replace it with airport testing, new data has shown. According to a survey by London City Airport, 71 per cent of senior executives think that removing the current restrictions in favour of a testing programme would [...]
Listed law firm DWF sees revenue jump after coronavirus chaos September 8, 2020 Listed law firm DWF said that strong trading in the first three months of the new financial year had helped offset the impact of the coronavirus. In a first quarter trading update released this morning, the firm said both revenue and earnings were “materially ahead” of where they were last year. DWF also released its [...]
Four challenges facing new BA owner IAG’s boss Luis Gallego September 8, 2020 Taking over a multinational corporation is a daunting prospect even at the best of times, but when the corporation is in a sector that is currently undergoing its worst ever crisis, the challenge takes on several extra layers of difficulty. That’s the situation facing Luis Gallego, the 51-year-old Spaniard who today takes over the reins [...]
Easyjet to reduce flying capacity amid quarantine chaos September 8, 2020 Budget carrier Easyjet today said that it would reduce flying capacity for the fourth quarter due to changes to the UK’s quarantine regime. In a statement, the airline said that the “constantly evolving” restrictions, including yesterday’s decision to add seven Greek islands to the “red list”, was “negatively affecting” customer confidence. As a result, Easyjet [...]
Oil prices fall to lowest levels since July amid signs of stalling demand September 8, 2020 Global oil prices fell to their lowest levels since the start of July this morning amid fears that demand is stalling as coronavirus infections surge around the world. Worldwide standard Brent crude fell over two per cent to trade at $41.13, the lowest it has changed hands in two months. US benchmark West Texas Intermediate [...]
Meggitt cancels dividend as profit falls over a third September 8, 2020 Aerospace engineer Meggitt this morning cancelled its interim dividend as profit at the FTSE 250 firm tumbled more than a third in a “very challenging” second quarter. Although the figure was better than anticipated after the coronavirus pandemic decimated the aviation industry, shares in the company fell 3.6 per cent in the morning’s trading. The [...]
Ashtead sees profit fall a third as construction recovery slows September 8, 2020 Construction equipment hire firm Ashtead saw profit fall over a third in the first quarter as the coronavirus pandemic squeezed building activity around the world. Despite what it called a “resilient” performance over the coronavirus lockdown period, revenue and profit both fell in the period. Shares slipped nearly one per cent as markets opened. The [...]
