Coronavirus pushes Santander to €11bn loss July 29, 2020 Santander suffered a record loss of €11bn (£10bn) in its latest half-year, it revealed today, as coronavirus provisions tanked its bottom line. The figures A massive €12.6bn impairment relating to coronavirus meant Santander swung to a €10.8bn loss for the first half of 2020. Underlying profit before tax halved to €3.8bn year on year. And [...]
Deutsche Bank boosted by bond trading amid pandemic July 29, 2020 Deutsche Bank reported its biggest surge in fixed income trading revenue in eight years amid the coronavirus crisis. The figures Deutsche Bank reported pre-tax profit of €158m compared to a pre-tax loss of €946m in the second quarter of 2019. It also reported net profit of €61m compared to a net loss of €3.1bn in [...]
UK mortgage approvals beat expectations as housing market reopens July 29, 2020 UK mortgage approvals beat expectations and rocketed in June as the housing market reopened from the coronavirus lockdown, the latest figures have shown. The number of mortgages approved by UK banks rose to 40,000 in June after May’s record crash to just 9,300, the Bank of England said today. Analysts had predicted a rise to [...]
Barclays braces for pandemic blow with extra £1.6bn cushion July 29, 2020 Barclays has set aside £1.6bn to insulate itself against further loan losses in the coronavirus-hit second quarter of 2020, it revealed today, a higher sum than analysts expected. Bank forecasts had pointed to a £1.42bn total but the £1.6bn figure for April to June brings Barclays’ total provisions to £3.7bn. That sum could reach £5.79bn [...]
Taylor Wimpey swings to a loss in first half July 29, 2020 Housebuilder Taylor Wimpey swung to a loss in the first half of the year after costs related to the coronavirus pandemic reached £39.2m. The figures The developer’s share price fell more than seven per cent this morning as it reported an operating loss of £16.1m, compared to a profit of £311.9m in 2019, and loss [...]
Weir Group profit slumps due to oil price plunge July 29, 2020 Engineering firm Weir Group suffered a 41 per cent drop in pre-tax profit in the first half of the year, its results showed today, as oil and gas revenues slumped amid falling prices. The figures The FTSE 250-listed firm’s profit before tax fell 41 per cent in the six months ending 30 June compared to [...]
Funeral provider Dignity reports profit increase due to coronavirus deaths July 29, 2020 Funeral services provider Dignity reported an increase in profits in the first half of the year due to a surge in deaths during the coronavirus pandemic. Dignity’s share price jumped more than seven per cent this morning. The figures Dignity said the number of deaths rose 23 per cent and its underlying pretax profit grew [...]
Wizz Air shareholders revolt against CEO bonus July 29, 2020 Wizz Air shareholders have voted down its directors’ executive pay for the year, a week after shareholders raised concerns about a possible bonus payment to its chief executive. CEO Jozsef Varadi was set to receive a £485,000 bonus despite Wizz Air missing its profit target for the year to 31 March. More than half of [...]
Jupiter Fund Management profit halves as outflows decline July 29, 2020 Jupiter Fund Management reported that profit halved in the first half of the year as net assets fell after outflows jumped during the pandemic. The figures Jupiter reported pre-tax profit fell by 50 per cent to £40.8m and assets under management (AUM) was down 8 per cent to £39.2bn as net fund outflows jumped to [...]
