S4 Capital shares rise as advertising firm shrugs off Covid-19 hit May 7, 2020 Shares in S4 Capital rose as much as six per cent in early trading as the advertising firm boosted first-quarter revenue despite the impact of the coronavirus crisis. S4 Capital’s like-for-life revenue increased 17 per cent in the first three months of the year to £71m, while gross profit was up 22 per cent on [...]
BT scraps dividend as Covid-19 and full-fibre rollout hit profit May 7, 2020 BT today scrapped its dividend as the coronavirus crisis and full-fibre broadband costs weighed on profit. The telecoms giant said it had taken the “exceptionally difficult” decision to suspend the payout until 2022, when it will be reduced 50 per cent to 7.7p per share. It came as BT posted a two per cent dip [...]
Alan Sugar bares his teeth in dental row with advertising watchdog May 6, 2020 Lord Alan Sugar today launched a biting attack on the advertising watchdog as he clashed with regulators over a tweet promoting a teeth whitening kit. The Apprentice star had a brush with the law after he failed to clarify the commercial intent behind a tweet advertising a Stylsmile teeth whitening product. The dental brand was [...]
New York Times hits 6m subscribers but warns of advertising slump May 6, 2020 The New York Times has posted a record rise in new subscribers for the first quarter but warned of a slump in advertising revenue caused by the Covid-19 crisis. The newspaper added 587,000 new digital subscriptions in the first three months of the year, taking its total to more than 6m across digital and print. [...]
Analysis: Can Disney Plus rescue the House of Mouse? May 6, 2020 Disney last night laid bare the extent of the damage from the coronavirus crisis, which has sent shockwaves through all parts of the entertainment giant’s business. Chairman Bob Iger warned of “unprecedented challenges” as the company reported a $1.4bn (£1.3bn) hit to first-quarter operating income. With lockdown shutting down its theme parks, cruises and its [...]
Nine new lenders approved under coronavirus loan scheme May 6, 2020 Investec is among a group of nine lenders that have today been approved for accreditation under the government’s coronavirus business interruption loan scheme (CBILS). Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social Investment Business, Tower Leasing, Ultimate Finance and White Oak UK will now be able to provide financial support to small businesses across the [...]
Smith & Nephew revenue slumps as Covid-19 hits elective surgeries May 6, 2020 Medical equipment firm Smith & Nephew saw its revenue almost halve in April as elective surgeries were put on hold due to the coronavirus outbreak. Revenue fell 7.6 per cent to $1.1bn (£885m) in the first quarter as the Covid-19 crisis took its toll in all three of the firm’s global franchises. Smith & Nephew [...]
Barclaycard signs concert sponsorship deal with Global May 6, 2020 Barclaycard has inked a three-year deal with Global to sponsor its flagship pop concerts as the companies turn their focus to live events after the coronavirus lockdown. The partnership includes headline sponsorship of the Capital Summertime Ball and Jingle Bell Ball — the first time the two events have been sponsored together. The Summertime Ball [...]
ITV advertising revenue collapses in April amid Covid-19 crisis May 6, 2020 ITV has warned of a slump in advertising revenue for April as the coronavirus crisis ravages the broadcaster’s business model. ITV’s total revenue fell seven per cent in the first quarter to £694m as the pandemic began to take its toll. Revenue from ITV Studios dropped 11 per cent as the company was forced to [...]
Competition watchdog blocks JD Sports’ £90m takeover of Footasylum May 6, 2020 The competition watchdog has provoked a furious response from JD Sports after blocking the retailer’s £90m takeover of rival Footasylum. Following an in-depth investigation, the Competition and Markets Authority (CMA) ruled the tie-up would lead to a “substantially” lessening of competition nationally. As a result, consumers would be left with fewer discounts and could receive [...]
