Saga shares jump on proposed £150m equity raise backed by former boss September 1, 2020 Shares in over-50s insurance and travel business Saga rose today after it confirmed plans to raise £150m via an equity placing backed by its former chief executive. The company said Sir Roger De Haan – its former chief executive and son of the company’s founder – was planning on investing £100m in the company. De [...]
Eurozone manufacturing grows for second month running September 1, 2020 The Eurozone manufacturing sector saw “modest growth” for the second month running in August, according to a new survey, as the bloc’s economic recovery continued. However, the factory sectors in Spain and France stagnated while Greek manufacturing declined for the sixth month in a row. The IHS Markit Eurozone manufacturing purchasing managers’ index – a [...]
Wizz Air to fly at 60 per cent capacity in second quarter due to new restrictions September 1, 2020 Low-cost carrier Wizz Air this morning said that it expected to carry 60 per cent of its capacity in the second quarter due to new travel restrictions being imposed as a result of the coronavirus pandemic. In Hungary, the budget airline’s home market, foreign travellers will from today only be able to enter the country [...]
How might stocks react to a Biden win? September 1, 2020 Our analysis suggests such an assumption would be premature. It’s not just Covid-19 and the economic slump it has caused that are on investors’ minds. They’re also beginning to worry about the risks surrounding the 2020 US presidential election. The latest polls show that the presumptive Democratic nominee, Joe Biden, is poised to win and the [...]
Coronavirus: Government begins to wind down furlough scheme September 1, 2020 Companies using the coronavirus furlough scheme will now have to contribute to workers’ wages as the government begins to wind down its emergency support. The job retention scheme, introduced in March, has paid 80 per cent of salaries for workers on temporary leave, capped at £2,500 per month. From today this will be reduced to [...]
AI and Big Data: Can they guide investors through the pandemic? September 1, 2020 The defeat of the top human Go player by the AlphaGo artificial intelligence (AI) in 2017 revealed to the public the world of possibilities that AI scientists had been quietly exploring for years. Driverless cars, AI doctors, and robo-advisers, among other innovations, all seemed within reach. Amid such promise and possibility, Roy Amara’s famous law was [...]
‘Chaotic’ quarantine regime ‘destroying’ economy, says Willie Walsh September 1, 2020 The boss of British Airways’ parent company IAG has accused the government of destroying the economy through its “chaotic approach” to imposing coronavirus quarantine restrictions. Writing in the Times, Willie Walsh said that the “ever-shifting list” of countries requiring travellers to self-isolate meant that the UK has “officially hung up the closed sign”. Walsh’ comments [...]
Astrazeneca expands tie-up with Oxford Biomedica for Covid-19 vaccine September 1, 2020 Astrazeneca today said it has expanded its previous agreement with Oxford Biomedica to mass produce a potential vaccine for the Covid-19 virus. Gene and cell therapy firm Oxford Biomedica said the FTSE-listed pharma giant will give it £15m to reserve manufacturing capacity at its plant. Under the terms of the 18-month agreement Astrazeneca could pay [...]
Sweet treats: Cake Box to repay furlough money after rise in sales September 1, 2020 Cake Box today said it will repay the money it received under the government’s coronavirus furlough scheme and pay a special dividend after posting a sharp rise in sales in the last three months. The cream cake specialist said it would hand back £156,000 it had secured and would make no further claims under the [...]
