Coronavirus: Guinness owner Diageo pauses £4.5bn shareholder returns scheme April 9, 2020 Guinness owner Diageo has scrapped its financial guidance and suspended a £4.5bn shareholder returns programme after bars and restaurants across the world closed due to coronavirus. The drinks giant has not scrapped its interim dividend, however it has paused a three-year shareholder returns programme after governments ordered pubs to shut. Diageo said it had seen [...]
Coronavirus: Arcadia races to raise £50m to secure immediate future April 9, 2020 Sir Philip Green’s Arcadia retail empire is scrambling to raise £50m to secure its future amid the coronavirus crisis, which has forced stores to close indefinitely. Arcadia, which owns Topshop and Dorothy Perkins, has reportedly approached banks and hedge funds as it seeks to borrow around £50m against its Daventry distribution centre, Sky News reported. [...]
Calls for stamp duty holiday as UK house prices set to fall amid coronavirus crisis April 9, 2020 The government has been urged to take action to support the housing market, including a stamp duty holiday, as UK house prices are forecast to drop due to coronavirus. The Royal Institution of Chartered Surveyors (Rics) has called for a stamp duty holiday as a “short term measure”. It said it could encourage potential buyers [...]
Wagamama owner The Restaurant Group raises £57m amid coronavirus crisis April 9, 2020 Wagamama owner The Restaurant Group has raised £57m through a share placing to shore up its finances amid the coronavirus pandemic. Restaurant Group completed the equity raise this morning after announcing it last night. In a statement the company said: “The placing is expected to provide sufficient liquidity for the Company to deal with this [...]
Oil prices: Opec and Russia to discuss production cuts April 9, 2020 Opec and Russia will meet today to try to negotiate cuts to production cuts in a bid to address a drop in oil prices during the coronavirus crisis. Demand for fuel has plunged as much as 30 per cent after lockdowns and travel restrictions forced airlines to ground their plans and car usage slumped amid [...]
Coronavirus: Global fashion industry set to contract 30 per cent this year April 8, 2020 The global fashion industry is set to contract by up to 30 per cent this year due to the coronavirus outbreak, according to the latest research. The luxury personal goods sector, including jewellery, watches and beauty products, is set to shrink by 35 to 39 per cent. Eight out of 10 listed fashion companies in [...]
Coronavirus: Morrisons partners with Deliveroo to boost order capacity April 8, 2020 Morrisons has partnered with Deliveroo as the supermarket scrambles to increase delivery capacity to meet a surge in demand during the coronavirus pandemic. Customers can now order from a selection of 70 essential items from 130 Morrisons stores across the UK using the Deliveroo app. The range of products will be priced the same as [...]
Coronavirus: Ikea opens Swedish food markets for key workers April 8, 2020 Ikea has opened the food markets at its London stores to serve key workers during the coronavirus pandemic. The Swedish retail giant has opened food halls at its Tottenham and Greenwich sites, which are located close to local hospitals. The Ikea markets will be open to NHS and emergency service workers as well as the [...]
Coronavirus: Holland & Barrett under pressure to close stores April 8, 2020 Health food shop Holland & Barrett is facing pressure to close its stores due to safety concerns amid the coronavirus pandemic. Holland & Barrett has been allowed to stay open as an essential retailer during the UK’s coronavirus lockdown. However, an online petition calling for the high street chain to shut its stores has received [...]
Asos shares jump after it raises £247m to beat coronavirus April 8, 2020 Fast fashion retailer Asos’ shares shot up today after raising £247m to strengthen its financial position amid the coronavirus crisis. The online retailer announced the fundraise last night as it warned of a “prolonged downturn” due to the outbreak. It said it has placed 15.8m new shares at a price of 1,560p per share. That [...]
