Coronavirus risks UK economic downgrade, Mark Carney warns February 28, 2020 The UK faces the prospect of faltering economic growth as a result of the coronavirus outbreak, Bank of England governor Mark Carney warned today. The Bank has already spotted a squeeze on world supply chains from the coronavirus epidemic that started in China at the turn of the New Year, Carney said. While it is [...]
Coronavirus: Global stocks spill $3 trillion as Covid-19 sends FTSE 100 staggering February 27, 2020 European stocks tumbled yet again today as fresh coronavirus concerns saw the FTSE 100 sink three per cent this afternoon as stock markets across the world dropped sharply. London’s blue-chip index plunged far below 7,000 points to 6,831.2 today after Australia’s Prime Minister warned the world is on the brink of a coronavirus pandemic. Cases [...]
Two new UK coronavirus cases confirmed to bring total to 15 February 27, 2020 Two more British patients have tested positive for the coronavirus, raising the total number of UK coronavirus cases to 15. The new patients did not pick up the coronavirus in China but it was passed onto them in Italy and Tenerife. They are now being treated at the NHS’ specialist infection centres in Royal Liverpool [...]
Topps Tiles shares plunge on half-year profit warning February 27, 2020 Topps Tiles issued a warning today that first half profit will fall “materially” below market expectations due to Brits dodging home improvement and a 2019 full of Brexit uncertainty. Shares plunged 25 per cent in early trading, after investors had expected a profit in the range of £13.5m to £14.5m. The home improvement retailer said [...]
Paddy Power owner Flutter’s profit falls on UK tax blow February 27, 2020 Betfair and Paddy Power owner Flutter posted tumbling 2019 profit today as UK gaming taxes and the firm’s increased investment in the US both took their toll. The figures Profit before tax plunged 38 per cent year on year to £136m despite a 14 per cent hike in revenue to £2.14bn. Earnings per share also [...]
Persimmon CEO to depart after just 15 months in role February 27, 2020 Persimmon’s CEO signalled his intention to step down today just over a year after replacing the housebuilder’s former boss Jeff Fairburn, who left in 2018 amid outrage over a huge £75m bonus. Group chief executive Dave Jenkinson will depart “in due course”, he said today as Persimmon revealed a drop in 2019 profit as it [...]
Metro Bank shares plumb new depths after challenger bank swings to £131m loss February 26, 2020 Metro Bank will slash its growth plans after plunging to a £131m pre-tax loss in 2019, a devastating year in which an accounting scandal sent shares plunging and led to an exodus of the bank’s top brass. Shares in the company fell as much as 19 per cent in morning trading to an all-time low [...]
Coronavirus: Chevron tells Canary Wharf staff to work remotely February 26, 2020 Chevron has told 300 UK staff to work from home over fears a British employee in its Canary Wharf office may have contracted the coronavirus. Traders, as well as exploration and refining staff, must all work remotely until Chevron gets the test results on the affected member of staff, a source told Reuters. “Chevron continues [...]
Taylor Wimpey warns of squeezed profit margin for 2020 February 26, 2020 Flat house prices amid 2019’s prolonged Brexit uncertainty hurt Taylor Wimpey’s profit margin last year, with no recovery expected in 2020, it revealed today. The figures Taylor Wimpey’s profit before tax climbed 3.1 per cent year on year to £835.9m in 2019. But weak house price growth and building costs knocked the firm’s operating profit [...]
McColl’s suspends dividend as it swings to £100m loss February 26, 2020 Convenience store McColl’s sank to a huge £100m loss in 2019 as it warned investors it will cancel their dividend today. McColl’s swung deep into the red last year, falling to a loss of £98.6m before tax, down from a 2018 profit of £7.9m. The retailer warned in December that it would miss profit expectations [...]
