Property stocks jump as restrictions on UK housing market ease May 13, 2020 Estate agent and housebuilder stocks soared this morning after the government last night loosened lockdown restrictions on the UK housing market. Shares in London estate agent Foxtons surged 8.31 per cent to 43.65p and online platform Purplebricks’ stock soared 11 per cent to 37.86p. LSL Property Services, the owner of Your Move and Reeds Rains, [...]
Exiting lockdown: where’s ready, where’s not, and where risks a second wave? May 13, 2020 In collaboration with Schroders’ Data Insights Unit, we’ve looked into the global state of lockdown and compared this with estimated reproduction numbers (R) to identify who is ready to exit lockdown, who is not and who is potentially exiting prematurely. Here’s what we found in summary: While China and Korea were the first to exit [...]
Rishi Sunak: UK set for ‘significant recession’ May 13, 2020 Chancellor Rishi Sunak has said the UK will be plunged into a “significant recession” in the wake of figures showing the economy contracted in the first quarter. It was the first time during the crisis that Sunak has admitted a recession is on its way, telling The Telegraph that “we’re at a time of unprecedented [...]
UK GDP shrinks: Economists warn worst yet to come as lockdown persists May 13, 2020 The UK economy shrank by a record 5.8 per cent in March, thanks almost entirely to just over a week of coronavirus lockdown that began on the 23rd. In the first quarter as a whole GDP contracted by two per cent, the Office for National Statistics (ONS) said today. This was its worst performance since [...]
L&G agrees two pension risk transfer transactions with IHS Markit May 13, 2020 Legal & General has today announced it has agreed two pension risk transfer transactions with information provider IHS Markit, one in the UK and one in the US. The UK transaction was for £37.8m, covering around 150 members, while the US transaction was £78.4m, covering around 1,200 members. The financial services group also confirmed it [...]
Bowling alley operator Ten Entertainment prepares for coronavirus lockdown to lift May 13, 2020 Bowling alley operator Ten Entertainment said it was preparing to reopen to customers with social distancing measures in place, and also said it had the resilience to face a second wave of coronavirus. Ten Entertainment this morning announced it has secured personal protective equipment for staff and its sites were being configured for social distancing. [...]
Coronavirus public transport advice: What do lockdown rules say? May 13, 2020 The government has released new public transport advice for would-be commuters as the UK takes its first tentative steps out of seven weeks of lockdown. Although it once again stresses that people should avoid travelling it is totally necessary, the measures lay out steps people can take to keep themselves and others safe when making [...]
Brewin Dolphin’s profit dips despite increased demand for advice May 13, 2020 Wealth manager Brewin Dolphin’s profit took a hit in the first half of the year, despite an increase in demand for financial advice during the market turbulence. In a market update for the six months to March, Brewin Dolphin reported that statutory profit before tax had dropped 5.1 per cent to £28.2m, down from £29.7m [...]
Premier Oil to seek lower price for BP North Sea fields acquisition May 13, 2020 Premier Oil will seek a lower price for its acquisition of two North Sea oil fields from BP due to the decline in prices for the commodity, its chief executive has said. In January the oil explorer announced a $625m (£509m) deal to buy Andrew Area and Shearwater assets from the major, based on a [...]
Young’s pub chain to secure extra £100m financing to survive coronavirus crisis May 13, 2020 Pub chain Young’s said it is in the process of securing an additional £100m of financial headroom to help sustain the business throughout the coronavirus crisis. The company said it has issued paper with a value of £30m and a maturity date of 13 May 2021 under the government’s Covid Corporate Financing Facility. It is [...]
