British Airways extends China flight cancellations until after Easter February 25, 2020 British Airways (BA) has extended its suspension of flights to China until after Easter, the airline announced, after increased fears over the spread of the deadly coronavirus. BA, which had previously said it would cancel all flights to and from Beijing and Shanghai until 1 April, has now said it is extending the ban for [...]
Petrofac posts $73m profit as one-off charges bite February 25, 2020 Oilfield services giant Petrofac posted a $73m (£56.4m) profit last year as a number of exceptional charges limited the firm’s growth in 2019. Shares in the firm rose 1.1 per cent as marketts opened. The figures Reported profit was roughly 10 per cent higher year-on-year, increasing from $64m in 2018 to $73m last year. Net [...]
Coronavirus: Countries step up preventative measures as death toll rises February 25, 2020 Countries around the world are stepping up efforts to prevent the spread of the coronavirus as the number of confirmed global cases hit 80,000. After the World Health Organization (WHO) warned yesterday that the world should prepare for a possible pandemic, worst-hit countries outside of China such as Italy, South Korea and Japan have all [...]
US PMI: Factory output contracts for the first time in six years February 21, 2020 US economic output shrank for the first time since October 2013 today as the service sector reported its worst performance for four years. According to IHS Markit Purchasing Managers’ Index (PMI) data, the composite output index fell to 49.6 from 53.3 in January, reaching a 76-month-low. The drop was driven by services, which fell to [...]
Royal Mail to raise price of stamps from 23 March February 21, 2020 The Royal Mail will raise the prices of its stamp from 23 March as the former postal monopoly continues to struggle against a “challenging business environment”. A first class stamp will increase by 6p to 76p, while the price of a second class stamp will increase by 4p to 65p. The postal service said that [...]
Islamic State supporter admits plot to bomb St Paul’s Cathedral February 21, 2020 A supporter of the Islamic State (IS) terror group has today pleaded guilty to plotting to bomb St Paul’s Cathedral and a hotel. Saffiya Shaikh, 36, from Hayes in west London, appeared at the Old Bailey where she admitted preparation of terrorist acts and dissemination of terrorist publications. Shaikh, who was born Michelle Ramsden, had [...]
Strike on the cards for Royal Mail workers despite pay rise offer February 21, 2020 Royal Mail’s workers are set for its first national strike in a decade as the postal service’s largest union said it could call a stoppage as early as next month. Yesterday Royal Maul proposed a six per cent three-year pay deal to the Communications Workers Union in a bid to avoid such strike action. However, [...]
UK PMI: Manufacturing grows at fastest rate in 10 months despite coronavirus February 21, 2020 UK manufacturing grew at its fastest rate in 10 months in February, according to a flash Purchasing Managers’ Index (PMI) reading, but services fell to a two-month low. According to IHS Markit / CIPS data, manufacturing hit 52.8, up from January’s final rate of 50.1, whilst services fell to 53.3, down from 53.9 last month. [...]
Chinese passenger car sales fall 92 per cent in February February 21, 2020 Chinese sales of passenger cars collapsed 92 per cent on an annual basis in the first 16 days of February as the coronavirus outbreak halted business output across the country. According to China Passenger Car Association (CPCA), only 4,909 vehicles were sold in the period, down from 59,930 in the same period a year earlier. [...]
Hammerson sells seven retail parks to Orion for £400m February 21, 2020 Hammerson has sold seven retail parks to Orion’s European real estate fund for £400m, the largest sale of its kind in the UK for a decade. The parks are dotted around the country in places such as Didcot, Falkirk, Rugby and Telford. The deal, which is expected to raise proceeds of £395m, takes the total [...]
