Singapore Air to cut a fifth of workforce amid pandemic chaos September 11, 2020 Singapore Air today said it will cut roughly a fifth of its workforce due to the catastrophic impact of the coronavirus outbreak on aviation demand. The airline will slash 4,300 positions — the largest job losses in its history — with the cuts impacting its main brand as well as its Silkair and Scoot divisions. [...]
Ashmore posts rise in profit despite assets under management dip September 11, 2020 Ashmore Group today reported a rise in profits despite suffering a fall in assets under management due to market turmoil caused by the coronavirus crisis. The figures Ashmore’s assets under management fell nine per cent to $83.6bn (£65.1bn) in the year to the end of June. Net revenue rose five per cent to £330.5m. Pre-tax [...]
Rio Tinto boss steps down after Aboriginal cave blast September 11, 2020 The chief executive of Rio Tinto will step down following criticism of the mining giant’s destruction of Aboriginal heritage sites in Australia. Jean-Sebastien Jacques will remain in his role until the appointment of his successor or 31 March 2021, whichever is earlier, the company said this morning. The FTSE 100 boss has been under fierce [...]
Social media abuse to be made illegal under new online harms proposals September 11, 2020 Sending abusive messages over social media, messaging services or email could be made illegal under new proposals tabled today. The Law Commission has outlined a number of reforms designed to protect people from harmful behaviour online. The reforms, set out in a consultation paper, would criminalise any communications likely to cause harm. This includes personal [...]
Dixons Carphone mulls Nordic float as online sales surge September 10, 2020 Dixons Carphone today said it was mulling a stock market listing for its Nordics business as domestic sales surged on increased online demand. The company reported a 12 per cent rise in electricals sales in the UK and Ireland in the 17 weeks to the end of August. This was driven by booming online sales, [...]
Morrisons profit sinks as Covid costs outweigh sales boost September 10, 2020 Morrisons today reported higher sales for the first half of the year but said costs related to Covid-19 safety measures had hit profit. The figures Morrisons reported total revenue of £8.73bn, down 1.1 per cent on the same period last year. But like-for-like sales excluding fuel rose 8.7 per cent. Statutory profit before tax fell [...]
S4 Capital plots further expansion despite Covid-19 profit hit September 9, 2020 Advertising firm S4 Capital today said it was plotting further aggressive expansion despite taking a hit to its first-half profit due to the coronavirus outbreak. The figures S4 Capital’s revenue increased 6.9 per cent on a like-for-like basis to £141.3m in the six months to the end of June. Adjusted pre-tax profit was £13.9m, down [...]
Packaging firm DS Smith on track as Covid-19 drives ecommerce growth September 8, 2020 Packaging group DS Smith today reported trading in line with expectations as growth in its ecommerce business offset the impact of coronavirus. The FTSE 100-listed company said its like-for-like corrugated box volume performance had improved since the outbreak of the virus and had seen a return to positive group. The firm added that its fast-moving [...]
Vistry Group’s forward sales boom following first-half loss September 8, 2020 Vistry Group swung to a pre-tax loss in the first half of the year but said it expected sales to bounce back in the aftermath of the coronavirus lockdown. The figures Vistry Group posted revenue of £606.4m in the six months to the end of June, up 28 per cent on the same period last [...]
Travis Perkins shares slide as building site closures hit profit September 8, 2020 Shares in Travis Perkins dropped this morning after the builders’ merchant reported a huge decrease in operating profit for the first half. The figures Travis Perkins reported revenue of £2.8bn in the six months to the end of June, down 20 per cent on the same period last year. Adjusted operating profit plunged 80 per [...]
