Pearson issues 2020 profit warning on coronavirus closures March 23, 2020 Education publisher Pearson today issued a profit warning for 2020 and paused a £350m share buyback as a result of the coronavirus pandemic. The firm, already suffering from a difficult transition from print to digital, warned it expects a “negative impact” on 2020 profit from closing its testing centres. The postponement of US state exam [...]
Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 March 20, 2020 The government will pay up to 80 per cent, or £2,500, of the salaries of British workers hit by the UK coronavirus crisis in a huge wage bailout. Chancellor Rishi Sunak announced the extraordinary measures today after Prime Minister Boris Johnson ordered all pubs and restaurants, cafes and gyms to shut their doors tonight and [...]
Coronavirus: Marks & Spencer warns on profit as it considers store closures March 20, 2020 Marks & Spencer issued a coronavirus-related profit warning today and alerted investors it may close stores temporarily amid the UK’s Covid-19 outbreak. Its clothing and home divisions have suffered a big hit already from the UK coronavirus crisis, Marks & Spencer warned. As a result profit could fall below expectations of £440m to £460m. “The [...]
London coronavirus outbreak: Tube travel plunges 70 per cent March 20, 2020 The number of Londoners taking the Tube has plummeted 70 per cent amid the coronavirus outbreak, Transport for London (TfL) confirmed today. The number of London Underground commuters will fall even further as people are urged not to take public transport, TfL also warned. Bus journeys have fallen 40 per cent too, London’s transport body [...]
Coronavirus: US stocks lift on stimulus measures despite Europe turmoil March 20, 2020 US stocks lifted slightly on the open this afternoon as traders reacted to massive amounts of government stimulus aimed at containing the coronavirus crisis. The S&P 500 dipped 0.5 per cent before rising just 0.1 per cent and the tech-heavy Nasdaq rose 1.3 per cent. The Dow Jones posted a 0.5 per cent rise shortly [...]
Chancellor Rishi Sunak to announce wage bailout plan March 20, 2020 Chancellor Rishi Sunak is set to announce a massive wage bailout package today to battle the UK coronavirus outbreak. Business groups yesterday pressed the government to step in to help pay workers’ wages. They want protection for millions of jobs as the number of UK coronavirus cases spiked again. Britain’s death toll from coronavirus reached [...]
CMA launches coronavirus taskforce to stamp down on over-pricing March 20, 2020 The Competition and Markets Authority (CMA) has launched a taskforce to prevent businesses from taking advantage of shoppers during the UK coronavirus outbreak. The UK competition watchdog warned the outbreak has “prompted many concerns that businesses might exploit the situacion to take advantage of people”. Amid stockpiling of food and toilet roll across the UK, [...]
Coronavirus: Wetherspoon scraps dividend and warns on profit March 20, 2020 Wetherspoon boss Tim Martin has scrapped the pub chain’s dividend and issued a profit warning after Boris Johnson urged Brits not to visit pubs and restaurants amid the UK coronavirus outbreak. A rapid escalation in UK coronavirus cases has already seen a 4.5 per cent decline in Wetherspoon pub sales in the week to 15 [...]
Next warns of coronavirus blow to online and high street sales March 19, 2020 High street titan Next has warned coronavirus will produce a “very significant” sales blow in the coming year as travel restrictions dramatically damage the retail sector. Next, considered an economic bellwether, said it is now preparing for a “significant downturn” in 2020. “When the pandemic first appeared in China, we assumed that the threat was [...]
TfL to shut 40 Tube stations as Londoners told ‘don’t travel’ over coronavirus March 19, 2020 As many as 40 Tube stations are set to close today as London attempts to curb the spread of coronavirus across the capital. Transport for London (TfL) announced the partial shutdown of the Tube late last night, warning passengers it will come into effect from this morning. “Up to 40 London Underground stations that do [...]
