Coronavirus: Gilead drug remdesivir sparks optimism about treatment April 17, 2020 Shares in US pharmaceutical firm Gilead have surged after a report said its drug remdesivir had shown encouraging signs in the treatment of coronavirus in a clinical trial. A University of Chicago hospital that is part of a wider trial of the drug said its patients taking the medicine were rapidly recovering from fever and [...]
FCA pushes car finance firms to halt repossessions amid coronavirus April 17, 2020 The UK’s financial watchdog has proposed a freeze on car finance repayments, ruling out repossessions of vehicles during the coronavirus crisis. The Financial Conduct Authority (FCA) told car leasing firms today to offer three-month repayment pauses for customers in financial difficulty as a result of coronavirus. “We are very aware of the continued struggle people [...]
Man Group funds slump $14bn on coronavirus market chaos April 17, 2020 Hedge fund manager Man Group said today that its funds under management fell 11.5 per cent to $104.2bn (£83.8bn) in the first quarter because of the slump in the markets caused by the coronavirus pandemic. Man Group said it lost $10.7bn on negative investment performance and $3.3bn on currency and other movements. Man’s computer-driven long-only [...]
Coronavirus: Could crisis be a tipping point for compliance and ‘RegTech’? April 17, 2020 We are living in unprecedented times. Due to the human disruption caused by the coronavirus pandemic, a financial downturn is upon us. Against this difficult backdrop, it is my belief that ‘Regtech’, regulatory technology, is very well positioned to weather the storm. Regtech does what it says on the tin: it uses new technology, often [...]
Coronavirus: SMEs will need more than a slow-moving loan scheme to recover April 17, 2020 Britain was once disparagingly described as a nation of shopkeepers and now, over two centuries later, small, and medium-sized enterprises are the backbone of the British economy. According to the Federation of Small Businesses, SMEs account for the vast majority of the UK business population; three fifths of employment and around half of the UK’s [...]
Coronavirus: Wine dealers cheers return of confidence in China April 17, 2020 Sales of fine wine and spirits in China recovered quickly in March after a sharp contraction due to the coronavirus epidemic, a rare sign of optimism that confidence could return to the global economy sooner rather than later. Sales through global merchant BI Wine & Spirits were up by 25 per cent in March as [...]
Paddy Power-owner Flutter says revenue resilient despite sport shutdown April 17, 2020 Paddy Power Betfair’s parent company Flutter today said its revenue had not been hit as hard as expected by the shutdown in sport across the world because of coronavirus. In its results for the first quarter the gambling group said continued horse racing in Australia and the US meant that revenue decline had not been [...]
Foxtons targets £22m equity raise amid London house prices blow April 17, 2020 Foxtons estate agent has proposed a major £22m share sale representing about 20 per cent of issued stock as it furloughs staff. The £22m equity raise will allow Foxtons to repay its revolving credit facility and to boost its liquidity in the face of the coronavirus shutdown. The share sale would bolster its cash balance [...]
China’s economy shrinks for first time in decades on coronavirus hit April 17, 2020 China’s economy shrank for the first time in nearly three decades of records in the first quarter as the coronavirus pandemic hit spending and production. Gross domestic product (GDP) fell 6.8 per cent in the quarter ended March compared to the same period the previous year, official data showed today, slightly larger than the 6.5 [...]
