Watches of Switzerland beats expectations due to surge in online sales May 14, 2020 Watches of Switzerland saw sales smash £590m in the UK as the luxury group beat expectations for full-year revenue despite the coronavirus shutdown. Despite a slowdown in the last six weeks of the year due to the coronavirus, the firm said revenue had risen 5.9 per cent to £819.3m. The figures In the 46 weeks [...]
House price decline hurts Just Group’s solvency ratio May 14, 2020 Specialist pension provider Just Group posted a drop in its solvency ratio today after interest rates plunged around the world over the economic fallout of coronavirus. The insurer told investors its Solvency II coverage ratio has dropped three points to 138 per cent at the end of April 2020. European Solvency II rules stipulate how [...]
Donald Trump extends US Huawei ban by another year May 14, 2020 US President Donald Trump has extended his country’s ban on controversial Chinese tech firm Huawei for a further year. Trump last year declared a national emergency and signed an executive order banning US companies from using telecoms kit made by firms that posed a national security risk. The order, which is aimed primarily at Chinese [...]
English authorities give green light to Roche coronavirus antibody test May 14, 2020 England’s public health body has given the green light to a coronavirus antibody test made by Swiss drugmaker Roche, in what could be a crucial step in Britain’s effort to trace the outbreak. An antibody test is a blood test that can tell whether somebody has had coronavirus, even if they have recovered. Up to [...]
UK housebuilders race to return to work after government eases restrictions May 14, 2020 Some of the UK’s biggest housebuilders have revealed plans to return to work after the government removed lockdown restrictions on the property market. FTSE 100 housebuilder Persimmon said this morning that its sales offices in England will reopen from tomorrow with social distancing measures in place. It comes after the government removed restrictions to allow [...]
Wincanton sees revenue fall 15 per cent amid signs of ‘gradual’ recovery May 14, 2020 Logistics firm Wincanton said that revenue in April was down 15 per cent on a year-on-year basis, though it said it was beginning to see encouraging signs of a “gradual increase” in activity levels. In a trading update, the haulage company said that “considerable uncertainty” remained over the financial disruption it would suffer due to [...]
Private equity firm 3i Group holds dividend despite profit slump May 14, 2020 Buyout firm 3i Group today said it will pay its 2020 dividend as planned despite a collapse in profit caused by the coronavirus crisis. 3i said it would keep its total dividend of 35p per share for this year, with a dividend of 17.5p per share to be granted in July subject to shareholder approval. [...]
UK ready to slash tariffs on US agricultural imports in free trade talks – report May 14, 2020 The UK is ready to cut tariffs on US agricultural imports in order to move talks closer to securing a free trade deal, it is reported. The Department for International Trade is looking at a “big concession package” to US negotiators in the next few months to cut the cost of some agricultural imports, the [...]
Square Mile lockdown: City firms plot staff’s return to work May 14, 2020 City banks and professional services firms are drawing up plans to send staff back to the office as the UK begins to ease its coronavirus lockdown. Earlier this week Prime Minister Boris Johnson announced that people who can work from home should continue to do so, as he laid out guidance to make workplaces “Covid-secure”. [...]
